World Wrestling Entertainment Inc. (WWE) is nearing a deal to be acquired by Endeavor Group Holdings Inc. Bloomberg was first to report on the ongoing acquisition deal. The report states that ̶…
to the company as executive chairman in January. McMahon had exited his WWE leadership role last year amid investigations into sexual misconduct allegations, leaving his daughter, Stephanie McMahon, to take on offices as chairman and co-CEO alongside Nick Khan, who previously served as the company’s president.
“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” Vince McMahon said in a statement coinciding with his return to the company.
Although reports of McMahon’s troubled history have placed an unflattering spotlight on corporate leadership, the WWE still represents a desirable asset for entertainment companies looking to add professional sporting event broadcasts and their dedicated audiences to their arsenal. WWE shares have climbed 33% this year as speculation surrounding an acquisition has mounted.
Endeavor, the entertainment agency powerhouse led by Ari Emanuel, has a blueprint for incorporating the WWE into its assets. Endeavor mounted a successful integration of the Ultimate Fighting Championship after acquiring 100% of the martial arts promotion company in 2021.
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