Endeavor Group In Advanced Talks To Acquire World Wrestling Entertainment : Reports

(RTTNews) - Endeavor Group Holdings Inc (EDR), the parent of company UFC, is in advanced talks to acquire Vince McMahon's World Wrestling Entertainment Inc (WWE) in an all-stock deal, according to several media citing people familiar with the matter.

As per the reports, the deal could be announced as early as this week. UFC and WWE are expected to form a new publicly traded company as part of the agreement. Endeavor shareholders will own 51% of the combined company, while WWE shareholders would get 49%. The Endeavor deal gives WWE an enterprise value of $9.3 billion.

In January, WWE said it retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support WWE's management team and its Board of Directors in connection with a review of strategic alternatives to maximize value for all WWE stockholders and other stakeholders.