WATCH: How WWE's merger with UFC is already changing EVERYTHING
Endeavor closed a US$21 billion merger between UFC and WWE, forming a new combined company named TKO Group Holdings. This transaction brought an end to decades of majority ownership of the company by Vince McMahon earlier this month on September 12, 2023. The new company is said to be valued at $21 billion, with WWE being worth $9 billion, according to a press release from Endeavor at the beginning of the takeover process, which has now been floated on the New York Stock Exchange.
This merger came with a lot of layoffs as over 100 backstage staff were let go, and over 20 WWE Superstars were released from their contracts. Some notable names who were released from the Stamford-based promotion are Dolph Ziggler, Mustafa Ali, Shelton Benjamin, Elias, Rick Boogs, Riddick Moss, Emma, Top Dolla, Dabba-Kato, Dana Brooke, Mansoor, Mace and many others on September 21. On the very next day, September 22, Matt Riddle also announced his release from the company.
WWE was bound for a change when the deal was announced back in April, with Endeavor Group Holdings, which is an American media conglomerate, taking a 51 percent stake in TKO.
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