End of era: WWE’s Vince McMahon sells majority stake

The World Wrestling Entertainment (WWE), the world’s foremost professional wrestling promotion, has bid farewell to an era as Vince McMahon lost a majority stake in the company.

Endeavor successfully concluded its acquisition of a majority stake in WWE, merging a historic union that brings together WWE and the Ultimate Fighting Championship (UFC), the planet’s largest mixed martial arts (MMA) promotion, under the banner of TKO Group Holdings.

With this deal, Endeavor assumes ownership of 51 per cent  of the newly formed entity, leaving McMahon with a 16.4 per cent stake in TKO.

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Vince McMahon has held sway over WWE since 1982 when he acquired it from his father. Under his leadership, the 78-year-old transformed the company from a regional business into a national powerhouse and, eventually, an international phenomenon.

In response to this momentous development, CEO of Endeavor Ariel Emanuel commented, “The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment. Leveraging their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE now united, we will deliver unparalleled experiences to over a billion passionate fans worldwide.”

The WWE is renowned for its intricate storytelling and a multitude of characters, raising questions about potential creative directions and crossover possibilities with UFC. As of now, there have been no reported changes in WWE’s creative and talent management teams.