The parent company of the UFC mixed martial arts league will buy professional wrestling giant WWE and merge the two corporations.
“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity,” said Vince McMahon, World Wrestling Entertainment executive chairman.
According to Ultimate Fighting Championship owner Endeavor Group Holdings, the companies will combine with Endeavor maintaining 51% controlling interest and WWE shareholders keeping the remaining 49% holdings.
The professional wrestling company formerly known as the WWF was purchased for $9.3 billion or approximately $106 per share, according to the the announcement.
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