$21 Billion Deal - WWE And UFC All Set To Merge And Form New Company

WWE will be merging with UFC and creating a new company after a 21-million-dollar deal was finalised, as per NDTV.

Endeavor Group Holdings, which is UFC's parent company, announced it will possess hold 51 percent controlling interest while WWE holds 49 percent.

WWE, owned by Vince McMahon, has made rounds in the media about a potential takeover and after the new deal, WWE will be valued at $9.3 billion and UFC at $12.1 billion.

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Dana White is in charge of UFC right now.

¡°This is a rare opportunity to create global live sports and entertainment pureplay built for where the industry is headed,¡± said Endeavor CEO Ari Emanuel in an official release.

¡°For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together,¡± Ari added.

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¡°Given the incredible work that Ari and Endeavor have done to grow the UFC brand ¨C nearly doubling its revenue over the past seven years ¨C and the immense success we've already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,¡± said McMahon in the joint statement.