TKO suffers $249.5 million loss; what WWE earned
WWE has been hitting the fans with entertainment quality lately, but financial outcomes are a different story when it comes to revenue. TKO has posted its financial results for the first quarter of 2024 and unveiled how much revenue was earned, and it wasn't as good as one might expect it to be on paper.
It was announced in April 2023 that the Triple H-led company would join forces with UFC to form a multi-billion merger under the TKO Group Holdings Inc. umbrella. The deal was made for a staggering $21 billion, partnering the biggest martial arts promotion with the leading professional wrestling sports entertainment company in the world.
TKO has been adamant about shaping the combat sports and entertainment world for the next decade. It has allowed the two companies to run their respective shows and unveiled all the revenue for Q1 of 2024.
The financial results reported that TKO suffered a net loss of $259.5 million. Meanwhile, UFC brought in $313 million in revenue, and WWE earned a total of $316.7 million in revenue.
Much of the net loss posted in the financial results report came from the UFC anti-trust lawsuit settlement, which set them back a total of $335 million.
Major WWE name reportedly listed all his shares for sales after Vince McMahon
In a recent TKO filing, the current WWE President, Nick Khan, decided to sell all of his TKO shares. Mr. McMahon also sold all of his shares after his presence in the company was removed following lawsuits.
The filing from TKO reported that Nick Khan had put all 234,424 shares, including restricted ones, up for sale. However, it should be noted that just because the shares have been listed for sale doesn't necessarily mean that the sale will take place.
On the other hand, McMahon didn't hesitate to sell his shares: 8.4 million were sold in November, 5.35 million in March, and 3.5 million in April.
It's unclear whether Nick Khan will proceed with the sales of his shares, similar to Vince McMahon. We'll have to wait and see what this might mean for Khan's position in WWE and if it will go through any changes soon.