Updated, Nov. 10: Vince McMahon is cashing out a big chunk of the stock he received from the sale of WWE.
McMahon, the former CEO of WWE, intends to sell 8.4 million shares of Class A common stock in Tko Group Holdings, the company formed by the merger of WWE and UFC, which was engineered by Endeavor (owner of UFC).
Early Friday, Tko announced McMahon’s shares would be priced at $79.80 per share, making the stock sale worth $670.3 million. McMahon “will receive all of the net proceeds from this offering,” Tko said in a filing Thursday with the SEC. The stock he’s selling represents about 30% of the 28 million shares McMahon previously owned in Tko, per a regulatory filing.
Tko said it would repurchase approximately $100 million of shares of its Class A common stock from the underwriters in the stock sale by McMahon.
McMahon, who has the role of executive chairman of Tko Group,...
McMahon, the former CEO of WWE, intends to sell 8.4 million shares of Class A common stock in Tko Group Holdings, the company formed by the merger of WWE and UFC, which was engineered by Endeavor (owner of UFC).
Early Friday, Tko announced McMahon’s shares would be priced at $79.80 per share, making the stock sale worth $670.3 million. McMahon “will receive all of the net proceeds from this offering,” Tko said in a filing Thursday with the SEC. The stock he’s selling represents about 30% of the 28 million shares McMahon previously owned in Tko, per a regulatory filing.
Tko said it would repurchase approximately $100 million of shares of its Class A common stock from the underwriters in the stock sale by McMahon.
McMahon, who has the role of executive chairman of Tko Group,...
- 11/9/2023
- by Todd Spangler
- Variety Film + TV
The marriage of UFC and WWE is complete: Endeavor and WWE announced the close of their deal to create Tko Group Holdings, merging the wrestling entertainment company and Mma leader UFC.
The hope is that by tag-teaming as a unified force, UFC and WWE together will become stronger than they could be separately. Tko together boasts more than 1 billion fans around the world, reaching viewers in 180 countries, and producing more than 350 annual live events. The company’s new website is at tkogrp.com.
Shares in Tko will begin trading Tuesday (Sept. 12) on the New York Stock Exchange under the ticker symbol “Tko.” Endeavor holds a 51% controlling interest in the new company and existing WWE shareholders hold a 49% interest on a fully diluted basis. With the launch of Tko, WWE shares will cease trading on the NYSE; WWE closed up 2.7% Monday, to $100.65/share. The price of Tko shares is pegged to WWE’s stock price,...
The hope is that by tag-teaming as a unified force, UFC and WWE together will become stronger than they could be separately. Tko together boasts more than 1 billion fans around the world, reaching viewers in 180 countries, and producing more than 350 annual live events. The company’s new website is at tkogrp.com.
Shares in Tko will begin trading Tuesday (Sept. 12) on the New York Stock Exchange under the ticker symbol “Tko.” Endeavor holds a 51% controlling interest in the new company and existing WWE shareholders hold a 49% interest on a fully diluted basis. With the launch of Tko, WWE shares will cease trading on the NYSE; WWE closed up 2.7% Monday, to $100.65/share. The price of Tko shares is pegged to WWE’s stock price,...
- 9/12/2023
- by Todd Spangler
- Variety Film + TV
UFC, the mixed martial arts powerhouse, has officially tied the knot with Vince McMahon’s professional wresting juggernaut WWE, creating a new company called Tko Group that started trading on the New York Stock Exchange today.
Execs from both sides rang the NYSE opening bell to celebrate “a new premium sports and entertainment company serving more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events,” according to UFC parent Endeavor, which is banking on new content, international expansion and an easy-to-understand investment thesis for Wall Street.
The deal was announced before market open this morning. Tko Group Holding shares are up 0.78% at $101.44 in mid-morning trade, off their highs but bucking a ho-hum market
It’s an epic moment as McMahon, who built the company his father founded into a powehouse and has been the face of WWE for decades, as well as its biggest shareholder,...
Execs from both sides rang the NYSE opening bell to celebrate “a new premium sports and entertainment company serving more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events,” according to UFC parent Endeavor, which is banking on new content, international expansion and an easy-to-understand investment thesis for Wall Street.
The deal was announced before market open this morning. Tko Group Holding shares are up 0.78% at $101.44 in mid-morning trade, off their highs but bucking a ho-hum market
It’s an epic moment as McMahon, who built the company his father founded into a powehouse and has been the face of WWE for decades, as well as its biggest shareholder,...
- 9/12/2023
- by Jill Goldsmith
- Deadline Film + TV
The Ufc — in a major jump to digital away from traditional pay TV — inked an expanded pact with ESPN under which all of the mixed martial arts promoter’s pay-per-view events will be available exclusively on ESPN+ in the U.S. for the next seven years.
Under the agreement, the ESPN+ subscription streaming service will be the only way for Mma fans in America to purchase and watch the Ufc’s 12 annual PPV tentpole events through 2025. The deal kicks off with Ufc 236 on April 13, featuring a lightweight title fight between Max Holloway and Dustin Poirier. Ufc will continue to sell its PPV events to commercial establishments (like bars and restaurants) but individual fans will need to be ESPN+ paying customers to buy the pay-per-views going forward.
Ufc, majority owned by Endeavor, originally struck a $1.5 billion, five-year deal last year with the Disney-owned sports programmer, which nabbed the TV rights from Fox Sports.
Under the agreement, the ESPN+ subscription streaming service will be the only way for Mma fans in America to purchase and watch the Ufc’s 12 annual PPV tentpole events through 2025. The deal kicks off with Ufc 236 on April 13, featuring a lightweight title fight between Max Holloway and Dustin Poirier. Ufc will continue to sell its PPV events to commercial establishments (like bars and restaurants) but individual fans will need to be ESPN+ paying customers to buy the pay-per-views going forward.
Ufc, majority owned by Endeavor, originally struck a $1.5 billion, five-year deal last year with the Disney-owned sports programmer, which nabbed the TV rights from Fox Sports.
- 3/18/2019
- by Todd Spangler
- Variety Film + TV
The Ufc is poised for a big year in 2019, starting with the kickoff next month of its broad five-year rights pact with ESPN.
Lawrence Epstein, chief operating officer of Ufc parent company Zuffa, LLC, has no shortage of growth ambitions for the sports league that is the marketing leader in the growing arena of mixed martial arts leagues.
In the latest episode of “Strictly Business,” Variety‘s weekly podcast featuring conversations with industry leaders about the business of entertainment, Epstein discusses his high expectations for a busy 2019. He emphasizes the brand-building “credibility” that the ESPN partnership will confer on Ufc and the astronomical earnings power of Ufc superstars such as Conor McGregor. Epstein also offers a behind-the-scenes look at the sale process that lead to the company’s $4 billion acquisition by Endeavor in 2016. And he optimistically looks at the expanding field of Mma competitors as a rising tide that should...
Lawrence Epstein, chief operating officer of Ufc parent company Zuffa, LLC, has no shortage of growth ambitions for the sports league that is the marketing leader in the growing arena of mixed martial arts leagues.
In the latest episode of “Strictly Business,” Variety‘s weekly podcast featuring conversations with industry leaders about the business of entertainment, Epstein discusses his high expectations for a busy 2019. He emphasizes the brand-building “credibility” that the ESPN partnership will confer on Ufc and the astronomical earnings power of Ufc superstars such as Conor McGregor. Epstein also offers a behind-the-scenes look at the sale process that lead to the company’s $4 billion acquisition by Endeavor in 2016. And he optimistically looks at the expanding field of Mma competitors as a rising tide that should...
- 11/28/2018
- by Cynthia Littleton
- Variety Film + TV
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