Endeavor Group Holdings, the parent company of both WWE and UFC, announced the initiation of a formal review to evaluate strategic alternatives for the company.

In a press release, Endeavor made it clear that as part of the strategic alternative, it will not consider the sale or disposition of the company’s interest in TKO Group Holdings, Inc. TKO is the company which consists of WWE and UFC.

“Given the continued dislocation between Endeavor’s public market value and the intrinsic value of Endeavor’s underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders,” said Ariel Emanuel, CEO of Endeavor.

Endeavor has not set a deadline or definitive timetable for the completion of the strategic alternatives review process, and there can be no assurance that this process will result in any particular outcome. The Company does not intend to comment further regarding the review of strategic alternatives until it determines disclosure is necessary or advisable.