WWE-UFC Merger Officially Closes, Endeavor Announces Launch Of TKO Group Holdings

The WWE-UFC merger has officially closed, with Endeavor today announcing the creation of TKO Group Holdings. The new premium sports and entertainment company has now begun trading on the New York Stock Exchange under the "TKO" ticker symbol.

In the official press release, Endeavor and TKO CEO Ari Emanuel described the creation of TKO Group Holdings as an "exciting new chapter for UFC and WWE as leaders in global sports and entertainment," while TKO's Executive Chairman Vince McMahon said that "WWE is optimally positioned for future growth and success as part of TKO." As per the previously agreed terms, Endeavor will hold 51 percent of the controlling interest in TKO, and existing WWE shareholders will hold 49 percent.

Moving forward, Dana White will become Chief Executive Officer of UFC, with Lawrence Epstein retaining his roles as Senior Executive Vice President and Chief Operating Officer of UFC. On the WWE side, Nick Khan will switch positions from WWE CEO to President of WWE.

McMahon, who retired amid several sexual misconduct allegations last summer, returned to WWE in January as Executive Chairman to seek a potential sale of the Stamford, Connecticut-based organization. Following weeks of speculation about possible buyers, it was announced on April 3 that WWE and UFC would be merging under the Endeavor umbrella to form a new sports and entertainment company.