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Endeavor-UFC deal is the next evolution of WWE, says Vince McMahon (CNBC Television YouTube)

Tag team deal: WWE to merge with UFC (CNBC Television YouTube)

Endeavor to merge UFC with WWE in $21 billion deal (CNBC Television YouTube)

WWE in talks to sell to UFC parent Endeavor (CNBC Teleivion YouTube)



UFC in shock $13.5 billion takeover of WWE to create combat sport juggernaut (FOX Sports)


April 3, 2023


New, Publicly Listed Company to be 51% Owned by Endeavor and 49% by Existing WWE Shareholders

Endeavor to Contribute UFC into Company at Enterprise Value of $12.1 Billion

BEVERLY HILLS, Calif. and STAMFORD, Conn. (April 3, 2023) – Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced that they have signed a definitive agreement to form a new, publicly listed company consisting of two iconic, complementary, global sports and entertainment brands: UFC and WWE. Upon close, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.

Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution. On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4 billion and a 10% annual revenue growth rate since 2019.

“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Ariel Emanuel, CEO of Endeavor. “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.”

“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – 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 Vincent K. McMahon, Executive Chairman of WWE.

McMahon continued, “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. The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”

The new company will be led by Emanuel (Chief Executive Officer), who will also continue in his role as Chief Executive Officer of Endeavor, McMahon (Executive Chairman of the Board) and Mark Shapiro, who will be President and Chief Operating Officer of both Endeavor and the new company. Dana White will continue in his role as President of UFC and Nick Khan will serve as President of WWE. The Board of Directors will consist of 11 members who will be appointed at a later date, six of whom will be appointed by Endeavor and five of whom by WWE.

Together, UFC and WWE expect to deliver an estimated $50 million to $100 million in annualized run rate cost synergies by leveraging, among other things, Endeavor’s back office and robust infrastructure. Endeavor also expects significant growth across revenue areas including domestic and international media rights, ticket sales and yield optimization, event operations, sponsorship, licensing and premium hospitality. Endeavor’s success at UFC, including increasing commercial opportunities that have driven more than 2x Adjusted EBITDA growth since its acquisition in late 2016, demonstrates the significant value creation opportunity and upside potential of having UFC and WWE under one roof.

Transaction Details and Approvals

The transaction values UFC at an enterprise value of $12.1 billion and WWE at an enterprise value of $9.3 billion. The transaction represents a contribution price of WWE of approximately $106 per share (before any post-closing dividend). Additionally, UFC and WWE will each contribute cash to the new company so that it holds approximately $150 million. At closing, Endeavor intends to sweep all excess cash at UFC, and shareholders of the new company (other than Endeavor) are expected to receive a post-closing dividend.

Under the terms of the transaction, existing WWE shareholders will roll all existing equity into the new entity that will be the parent company of UFC and WWE (“NewCo” until it is named at a later date) and intends to list on the New York Stock Exchange under the ticker symbol “TKO”. The listing of NewCo will expand the collective investor base to allow for broad market participation across Endeavor and NewCo.

The transaction has been unanimously approved by the Executive Committee of the Board of Directors of Endeavor and by the Board of Directors of WWE. The transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals. The transaction is expected to close in the second half of 2023.

This marks the successful conclusion of WWE’s strategic alternatives review process. WWE embarked on this process to take advantage of the company’s unique position in the entertainment ecosystem as well as the inflection point coming with its media rights renewals, both of which were widely recognized in the marketplace through this process.


Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are serving as financial advisors to Endeavor, and Latham & Watkins LLP is serving as legal advisor to Endeavor. The Raine Group is acting as lead financial advisor to WWE. J.P. Morgan and Moelis & Company LLC are also acting as financial advisors to WWE. The Raine Group, J.P. Morgan, and Moelis & Company LLC each rendered fairness opinions to the Board of Directors of WWE. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to WWE, and Kirkland & Ellis LLP is serving as legal advisor to WWE’s controlling stockholder, McMahon.


Endeavor and WWE will make public a recorded audio webcast at 8:00 a.m. ET today discussing this transaction. The event and accompanying presentation materials can be accessed at or The link to the webcast, as well as a recording, will also be available on those websites after the call concludes.

# # #

About Endeavor

Endeavor is a global sports and entertainment company, home to many of the world’s most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.

About UFC®

UFC® is the world’s premier mixed martial arts organization (MMA), with more than 700 million fans and 228 million social media followers. The organization produces more than 40 live events annually in some of the most prestigious arenas around the world, while broadcasting to over 900 million TV households across more than 170 countries. UFC’s athlete roster features the world’s best MMA athletes representing more than 80 countries. The organization’s digital offerings include UFC FIGHT PASS®, one of the world’s leading streaming services for combat sports. UFC is owned by global sports and entertainment company Endeavor, and is headquartered in Las Vegas, Nevada. For more information, visit and follow UFC at, Twitter, Snapchat, Instagram and TikTok: @UFC.

About WWE®

WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network. Additional information on WWE can be found at and

Cautionary Statement Regarding Forward-Looking Statements

This communication contains, and oral statements made from time to time by our representatives may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements regarding the potential transaction between Endeavor and WWE, including statements regarding the expected timetable for completing the potential transaction, the ability to complete the potential transaction, expected synergies, impacts and benefits of the potential transaction, projected financial information, future opportunities, expected cash distributions and other statements regarding NewCo’s and WWE’s future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Statements that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, the expected market opportunity, growth, financial performance, realizable synergies and closing of the transaction. All statements other than statements of historical facts contained in this communication may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “outlook,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this communication are only predictions. Endeavor and WWE management have based these forward-looking statements largely on their current expectations and projections about future events and financial trends that management believes may affect its business, financial condition and results of operations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from what is expressed or implied by the forward-looking statements, including, but not limited to: the transaction will not be consummated; there may be difficulties with the integration and in realizing the expected benefits of the transaction; Endeavor and WWE may need to use resources that are needed in other parts of its business to do so; there may be liabilities that are not known, probable or estimable at this time; the transaction may result in the diversion of management’s time and attention to issues relating to the transaction and integration; expected synergies and operating efficiencies attributable to the transaction may not be achieved within its expected time-frames or at all; there may be significant transaction costs and integration costs in connection with the transaction; the possibility that neither WWE nor Endeavor will have sufficient cash at close to distribute to shareholders (or that the amount of cash available for distribution will be less than what the parties expect); unfavorable outcome of legal proceedings that may be instituted against WWE and Endeavor following the announcement of the transaction; and risks inherent to the business may result in additional strategic and operational risks, which may impact Endeavor’s, NewCo’s and WWE’s risk profiles, which each company may not be able to mitigate effectively. In addition, a number of important factors could cause Endeavor’s or NewCo’s actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements, including but not limited to those important factors discussed in Part I, Item 1A “Risk Factors” in Endeavor’s or WWE’s respective Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as any such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at, Endeavor’s investor relations site at and WWE’s investor relations site at Forward-looking statements speak only as of the date they are made and, except as may be required under applicable law, neither Endeavor nor WWE undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Important Information For Investors And Stockholders

This communication is for informational purposes only and is not intended to, and does not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any issuance or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. In connection with the transaction, NewCo expects to file a registration statement on Form S-4 with the SEC, which will include an information statement of WWE and a preliminary prospectus of NewCo. After the registration statement is declared effective, WWE will mail to its stockholders a definitive information statement that will form part of the registration statement on Form S-4. This communication is not a substitute for the information statement/prospectus or registration statement or for any other document that WWE may file with the SEC and send to its stockholders in connection with the transaction. INVESTORS AND SECURITY HOLDERS OF WWE ARE URGED TO READ THE INFORMATION STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the information statement/prospectus (when available) and other documents filed with the SEC by WWE through the website maintained by the SEC at Copies of the documents filed with the SEC by WWE will be available free of charge on WWE’s website at

Non-GAAP Financial Information

In addition to the financials presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release includes certain non-GAAP financial information. Non-GAAP metrics have limitations as analytical tools and you should not consider them in isolation or as a substitute for or superior to the most directly comparable financial measures prepared in accordance with U.S. GAAP. There are a number of limitations related to the use of non-GAAP metrics versus their nearest GAAP equivalents. Other companies, including those in Endeavor’s and WWE’s industry, may calculate non-GAAP metrics differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the non-GAAP metrics used in this press release as tools for comparison. Endeavor and WWE urge you to not rely on any single financial measure to evaluate the Company and its business. See the presentation available on Endeavor’s investor relations site at and WWE’s investor relations site at for a reconciliation of these non-GAAP financial measures.


‘Powerhouse’: WWE, UFC merge to create $31b sporting giant

April 4, 2023


WWE is saying goodbye to existing as a family-run business as it joins with the company that runs Ultimate Fighting Championship to create a $US21.4 billion ($31 billion) sports entertainment company.

The deal announced between Endeavor and World Wrestling Entertainment, on the heels of its biggest event of the year, catapults WWE into a new era after spending decades under the control of the McMahon family.

Vince McMahon purchased Capitol Wrestling from his father in 1982, and took the regional wrestling business to a national audience with stars such as Andre the Giant, Hulk Hogan, “Stone Cold” Steve Austin, John Cena and Dwayne “The Rock” Johnson. The company, which changed its name to World Wrestling Federation and later World Wrestling Entertainment, hosted its first WrestleMania in 1985.

McMahon, in an interview with CNBC, addressed doubts among some WWE fans and industry experts that he would ever make a deal for the business. “It’s the right time to do the right thing. And it’s the next evolution of WWE,” he said.

In a presentation after the deal was announced, the WWE and Endeavor said that they will cross-promote to drive brand awareness and deepen penetration of their overlapping fan base, more than 700 million UFC fans and 1.2 billion WWE fans worldwide.

Ties already exist talent-wise between WWE and UFC, with stars such as Brock Lesnar and Ronda Rousey crossing over between the two organisations.

A new publicly traded company will house the UFC and WWE brands, with Endeavor Group Holdings taking a 51 per cent controlling interest in the new company. Existing WWE shareholders will hold a 49 per cent stake.

The companies put the enterprise value of UFC at $US12.1 billion and WWE’s value at $US9.3 billion.

The new business, which does not yet have a name, will be led by Endeavor chief executive officer Ari Emanuel. McMahon, executive chairman at WWE, will serve in the same role at the new company. Dana White will continue as president of UFC and Nick Khan will be president at WWE.

“Together, we will be a $US21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity,” McMahon said in a prepared statement.

He also provided some idea of where the focus of the new company will be, saying that it will look to maximise the value of combined media rights, enhance sponsorship monetisation, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster their brands.

Confirmation that WWE is being sold comes after McMahon, a majority shareholder of WWE, returned to the company in January and said that it could be on the block with viewership continuing to rise.

Rumours swirled about who would possibly be interested in buying WWE, with Endeavor, Disney, Fox, Comcast, Amazon and Saudi Arabia’s Public Investment Fund all in the mix.

McMahon said on CNBC that there were several buyers interested in WWE, but that combining with Endeavor is the right move.

“It makes all the sense in the world for all these synergies that we have to extract all of the value that we can out of the marketplace,” he explained.

Media industry analysts viewed WWE as an attractive target given its global reach and loyal fanbase.

The company held its marquee event, WrestleMania, over the weekend. The two-day spectacular, held at SoFi Stadium in California, topped the existing global viewership record by 28 per cent on the first night. On the second night, it beat the existing global viewership record by 33 per cent. Merchandise sales for WrestleMania 39 climbed 20 per cent from a year earlier. Last year, WWE booked revenue of $US1.3 billion.

The company is also a social media powerhouse. It surpassed 16 billion social video views in the final quarter of last year. It has nearly 94 million YouTube subscribers and more than 20 million followers on TikTok. Its female wrestlers comprise five out of the top 15 most followed female athletes in the world, across Facebook, Twitter & Instagram, led by Rousey with 36.1 million followers.

WWE had more than 7.5 billion digital and social media views in January and February of this year, up 15 per cent from the same time frame a year ago. And WrestleMania 39 had more than 500 million views and 11 million hours of video consumed over the two days of the event, a 42 per cent increase over last year.

The new company plans to trade on the New York Stock Exchange under the “TKO” ticker symbol. Its board will have 11 members, with six being appointed by Endeavor and five being appointed by WWE.

“We like the assets of UFC and also WWE in a world where linear TV is losing market share to streaming, thus live sport content is in high demand,” wrote Jeffries analyst Randal Konik said in a note to clients.

The transaction, which was approved by the boards of Endeavor and WWE, is targeted to close in the second half of the year. It still needs regulatory approval.

Shares of World Wrestling Entertainment, based in Stamford, Connecticut, are up 33 per cent this year, but fell nearly 4 per cent in Monday afternoon trading. Shares of Endeavor, based in Beverly Hills, California, slipped more than 7 per cent.



Updates on the WWE Sale and Potential Buyers Going Into WrestleMania 39 Weekend


CNBC analyst David Faber reports that the WWE sale “is expected to conclude in the not too distant future,” which could mean the company is sold earlier than mid-summer as initially expected by some.

Faber noted today that the WWE sale process is “going quite well.”

“I am hearing from people close to the situation that it’s a pretty good sales process with some saying it’s hot and heavy,” he said.

Faber added that people he’s spoken with who were doubtful a deal would happen, are less so now. Part of the doubt has to do with concern that WWE Chairman Vince McMahon will be reluctant to step aside if a deal is made. Faber played a clip of WWE CEO Nick Khan previously stating that McMahon is willing to step aside.

It was also reiterated that Comcast (NBCU parent company, owners of USA Network and Peacock) is not in the running.

Faber said “we can all take our educated guesses” on potential buyers, mentioning Endeavor Group, Saudi Arabia’s Public Investment Fund, a private equity interest that could be in partnership with a well-known name in the sport, and perhaps Liberty Media, an investment firm based in Colorado. It was noted that Endeavor would do a reverse Morris trust, which would see them spin-off the UFC into a new company and merge that with WWE.



Raw results, Jan. 23, 2023: Brock Lesnar returns to send a message to Bobby Lashley!


Raw XXX delivers highest domestic gate in history of Monday Night Raw


Raw XXX was a defining night for the red brand and delivered the highest domestic gate in the history of Monday Night Raw.

A sell-out crowd at the Wells Fargo Center in Philadelphia witnessed Sami Zayn's Tribal Court, an iconic moment shared between Bray Wyatt and The Undertaker, a joining of DX and Kurt Angle, the return of The Beast Brock Lesnar and much more.

Thank you WWE Universe for an unforgettable Raw XXX!





Vince McMahon: News


WWE - Vince McMahon WWE Corporate - Who We Are

Vince McMahon - Wikipedia


Wrestling Promoters

Vince McMahon Takes Actions in Support of Plan for WWE to Undertake a Review of Strategic Alternatives and Capture Unique Opportunity to Maximize Long-term Value for All Shareholders


Submits written consent to WWE Board electing himself and Company veterans George Barrios and Michelle Wilson as Directors

Actions are necessary to ensure McMahon's full participation in upcoming media rights negotiations and review of strategic alternatives

GREENWICH, Conn., Jan. 5, 2023 /PRNewswire/ -- Vince McMahon, the founder and controlling shareholder of World Wrestling Entertainment Inc. ("WWE" or the "Company") (NYSE: WWE), announced today that he has taken necessary actions to position the Company to capitalize on a unique opportunity to maximize long-term value for all WWE shareholders. The actions, communicated to WWE's Board of Directors today via written consent, include the election to the Board of Mr. McMahon, as well as Michelle Wilson and George Barrios – former WWE Co-Presidents and Board members, and currently the Co-Founders and Co-CEOs of Isos Capital Management – and the requisite removal from the Board of three directors. Mr. McMahon expects to assume the role of Executive Chairman of the Board.

Mr. McMahon's new role will enable unified decision making through the Company's upcoming media rights negotiations and a parallel full review of the Company's strategic alternatives, which Mr. McMahon believes is the right course of action and in the best interests of WWE and WWE shareholders amidst the current dynamics in the media and entertainment industry. As Mr. McMahon has communicated to the Board, he believes there is a narrow window of opportunity to create significant value for all shareholders and that to do so, the strategic alternatives review must occur in tandem with the media rights negotiations. He also expressed to the Board that he believes these two initiatives require Mr. McMahon's direct participation, leadership, and support as controlling shareholder.

"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," said Mr. McMahon. "The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder."

Prior to delivering written consent, Mr. McMahon sent two separate letters to the Board in late December in which he expressed the urgency of his return to the Company as Executive Chairman and his desire to work collaboratively with the Board and management team. Following conversations with representatives of the Company both before and after Mr. McMahon's most recent letter on December 31, Mr. McMahon determined, consistent with his rights as controlling shareholder, that the steps announced today are necessary to maximize value for all WWE shareholders.

Mr. McMahon said, "Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives. As former WWE Co-Presidents and Board members, they are intimately familiar with industry dynamics and the organization's operations and have helped guide the Company through past successful media rights negotiations. I look forward to working closely again with Michelle and George – as well as the Company's remaining directors and management team, who have my full support and confidence. WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."

In conjunction with the changes to WWE's Board, Mr. McMahon's written consent also includes certain amendments to the Company's bylaws to ensure that WWE's corporate governance continues to properly enable and support shareholder rights. These changes will be detailed in a Schedule 13D amendment to be filed by Mr. McMahon and a Form 8-K to be filed by the Company in the coming days.

No assurances can be given regarding the outcome or timing of the review process. Mr. McMahon does not intend to comment further until the process has concluded or Mr. McMahon has otherwise determined that further disclosure is appropriate or required.

Michelle Wilson Biography

Ms. Wilson is Co-Founder and Co-CEO of Isos Capital Management. She is a leading sports and entertainment c-suite executive and, prior to founding Isos with Mr. Barrios, most recently served as Co-President and Board Member of WWE until January 2020. In 2018, Forbes named Ms. Wilson one of the 10 Most Powerful Women in Sports. She also was featured on the Adweek 50 list, which highlights the leading executives in Media, Marketing and Technology, and named one of Sports Illustrated's 10 Most Influential Women in Sports. She joined WWE in 2009 and prior to her appointment as Co-President, served as Chief Revenue and Marketing Officer.

Previously, Michelle served as the Chief Marketing Officer of the United States Tennis Association, oversaw all marketing efforts for the launch of the XFL, a partnership between WWE and NBC, and held consumer products and brand management positions at the NBA and Nabisco, respectively. She received her MBA from Harvard Business School and currently serves on the Boards of Bowlero Corporation and Turtle Beach Corporation.

George Barrios Biography

Mr. Barrios serves as Isos Capital Management's Co-Founder and Co-CEO. He is an award-winning c-suite executive and most recently served as Co-President and Board Member of WWE until January 2020. In 2017, Institutional Investor ranked George among the Top 3 CFOs in the Media Industry as part of its All-America Executive team rankings. He joined WWE in 2008 as its Chief Strategy and Financial Officer.

Previously, he held leadership roles in finance, strategy and operations at the New York Times, Praxair, Time Warner and HBO. He received his MBA from the University of Connecticut School of Business and currently serves as the National Board Chair of the Make-A-Wish Foundation.

Kirkland & Ellis is serving as legal counsel to Mr. McMahon.

Forward Looking Statements

This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding Mr. McMahon's return to the Board as Executive Chairman, the impact of Mr. McMahon, Ms. Wilson and Mr. Barrios as members of the Board, the timing and success of the Company's media rights negotiations and the Company's review of strategic alternatives. In addition, the words "may," "will," "could," "anticipate," "plan," "continue," "project," "intend," "estimate," "believe," "expect," "outlook," "target," "goal," "guidance" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These statements relate to future possible events, as well as plans, objectives, expectations and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from future results expressed or implied by such forward-looking statements. These forward-looking statements are subject to uncertainties relating to, without limitation, the matters referred to in this release, the complexity of the Company's rights agreements across distribution mechanisms and geographical areas and the Company's review of strategic alternatives. Forward-looking statements speak only as of the date made and are subject to change without any obligation to update or revise them. Undue reliance should not be placed on these statements.

SOURCE Vince McMahon




Full Transcript from Today’s WWE Meeting Led By Stephanie McMahon, Nick Khan and Frank Riddick - January 6th, 2023


As noted, WWE Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan, and President & CFO Frank A. Riddick III led a meeting via call earlier this afternoon to address the return of Vince McMahon to the WWE Board of Directors, and his plans to pursue a sale of the company, among other issues. The meeting was held at 3:45pm ET today, and was for all employees, but not talent. The meeting went for around 10 minutes.

Courtesy of Wrestlenomics, a full transcript of what was said by Stephanie, Riddick and Khan has been revealed. You can use the links below the transcript to read the absolute latest on Vince and WWE, the recent reports and press releases, backstage reactions, and more.

Below is the transcript and aforementioned links:


Stephanie McMahon (WWE Co-CEO): Vince McMahon is coming back to the board of directors. He has made it clear upon his return what he’s really most excited about is the media rights opportunity in front of us that we’ve all been discussing and tying that to a strategic alternative process. And we wanted to make sure we got with everyone as soon as possible so you were aware of this message and also so we can explain a little bit more about it. And hopefully, we can answer questions moving forward. This format doesn’t allow for it. But, Frank, I kick it to you. I’m not going to attempt to explain strategic alternatives. I’d do a very basic level. Frank has the details, so go ahead, Frank.

Frank Riddick (WWE President, Chief Financial Officer): Sure, so at a very high level, what Vince has proposed and the process that would be followed would be to engage with a banker and prepare some background information on the company and present that to various potential partners for the company to evaluate whether there are any strategic transactions that would enhance the value of the company to all constituencies, including shareholders. And the idea is, as Steph said, the timing of this is largely driven around the upcoming media rights renewal and to do something that could enhance, in addition, those renewal discussions. So that would include — when we say “strategic initiatives”, “strategic alternatives” for the company — could include a broad range of potential transactions, everything from a combination with another company, an acquisition of the company by someone, or a take-private transaction, taking the company private and/or just simply some sort of cooperation joint venture agreement. So it’s pretty broad and I just would add a couple of things to that. One is, of course, there’s no assurance that any transaction will actually happen or any transaction will be forthcoming that makes economic and strategic sense for the company. And, of course, Vince is the controlling shareholder and controls the vote of the stock of the company is the ultimate decider as to whether there’s a transaction that can happen. So just to close out, all this from Nick and Steph and my perspective is very positive for the company. It’s a great time to look at alternatives and make sure that the company is well-positioned for the future. I think as everybody is aware, there’s a lot of changes that have happened in the media landscape in the last couple of years, even in the last six months. And there’s probably from a value of content perspective never a better time in history for the company to look at something like this. So hopefully that gives you a better perception of what that means.

Stephanie McMahon: Thanks, Frank. And then, Nick, how does that work as it’s tied to media rights and why is that a great strategic opportunity for us?

Nick Khan (WWE Co-CEO): Thanks, Steph, so these things work hand-in-hand with one another. For example, since our U.S. media rights are up in October of ‘24, for any conglomerate — so think Disney, Comcast, Netflix, etcetera — any conglomerate that might be interested in WWE would be interested in purchasing the company outright. They very well may be interested in doing a media rights deal, but obviously, we couldn’t do a media rights deal, let’s say, with Comcast and then go sell to Disney. Those sort of companies would want to make some sort of acquisition prior to those media rights being up. So the timing is spot on for that. In terms of the day-to-day of the company, nothing is changing. Steph is in her role, I’m in my role, Frank’s in his role, Paul is in his role, Kevin Dunn is in his role. And we would ask everyone to stay focused on the business as hand [sic]. We’re going to engage in this process. We’re going to look at it with open eyes and open hearts. We’re going to ultimately see what’s out there. And Vince will make his decision, as Frank said, as the controlling shareholder, as to what he wants to do with the company. For now, let’s focus on business as hand, if we could.

Stephanie McMahon: Great, thanks, Nick. This feels so formal since none of us are in the same room. And I just wanted to add also, rejoining the board is Michelle Wilson and George Barrios, who for those of you who were here remember them as co-presidents. They have so many years of experience here in WWE. And they’ve now been off on their own creating their own business and have a lot to offer from a media standpoint, certainly from an M&A standpoint. So they will be — and they’re very familiar with the company — so they will be joining the board, not management, as Nick was spelling out. So again the management structure stays the same, but Vince has joined the board, and obviously, as the controlling shareholder. And again, I just wanted to wrap up with reinforcing, a) there may have been a lag on this video, so just to let you know it has been recorded and will be shared if you missed anything; b) when Frank talks about how well-positioned WWE is and our performance, the reason why we’re doing so well is, again, because of all of you, because of our employees, who bring everything that they have to table every single day. And we’re just, we’re grateful, we’re appreciative, and we want you to know that our employees are incredibly important to us, and we recognize all of your contributions, and you will be well-informed throughout this process. We don’t want there to be — obviously there’s going to be some animosity — or not animosity, angst, natural emotions that you might feel, and we want to make sure that we’re on top of this and we’re communicating with you and everyone has all the information that they need. So again thank you to all of you. This is an exciting time. It shouldn’t be a scary time. It’s an exciting time for WWE. Our founder is back on the board and is going to help lead this process. And thank you to all of you. It’s an exciting way to kick-off 2023.





STAMFORD, Conn., January 6, 2023 – WWE (NYSE: WWE) is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives.

“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”

As Vince McMahon stated yesterday, “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."

In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.

Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.

The Board currently consists of:

Vince McMahon
Stephanie McMahon
Nick Khan
Paul Levesque
Steve Koonin
Michelle McKenna
Steve Pamon
George Barrios
Michelle Wilson

Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.

About WWE

WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TVPG programming can be seen in more than 1 billion homes worldwide in 30 languages through world class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.

Additional information on WWE can be found at and


Raw preview, Oct. 10, 2022: D-Generation X proudly present to you their 25th Anniversary Celebration

Don't miss all the action of a historic episode of the red brand on the season premiere of Monday Night Raw at 8/7 C on USA.

What’s streaming this week on Peacock and WWE Network

Matt Riddle def. Seth “Freakin” Rollins Inside the Fight Pit

Bray Wyatt makes a shocking return to WWE




Roman Reigns def. Logan Paul to retain the Undisputed WWE Universal Championship

November 5, 2022


Logan Paul made a grand entrance, dropping down on a massive podium before heading to the ring.

The two started off tensely, with Roman Reigns taking his time in his beatdown of the maverick.

Paul fought back with a superb clothesline that left Reigns down for a close two-count. Reigns called out YouTube stars as he had a crossface locked on The Media Megastar before Paul rallied by delivering a gut-wrench suplex.

Paul had been training with Shawn Michaels ahead of the match and emulated the two-time WWE Hall of Famer by tuning up the band. The Sweet Chin Music attempt was not so sweet, however, as the Undisputed WWE Universal Champion turned it around by planting Paul with a uranage.

Paul nearly shocked the world when he landed his one lucky punch followed by a Superman Punch, but Reigns was able to survive.

In shades of his win over The Miz at SummerSlam, Paul once again flew through the air, smashing Reigns with a frog splash through a table. This led to The Usos coming out to check on Reigns before pummeling Paul’s entourage with superkicks.

Logan’s brother Jake Paul came down to the ring, hitting both Usos with his powerful right hand. A huge frog splash from Logan Paul to Reigns couldn’t seal the deal, and Solo Sikoa hit the ringside area and started barking back and forth with Jake Paul.

During the commotion outside the ring between The Bloodline and the Paul brothers, Reigns recovered and nailed Logan Paul with a Superman Punch followed by a thunderous Spear to continue his legendary reign.

*click here for full article and multimedia




PHILADELPHIA (AP) — Daniel Cormier got physical as a guest WWE referee. He used a fist to the throat to pin Seth Rollins against the steel cage, and he issued a stern warning not to mess with the former MMA great.

After the match held inside a Fight Pit, Cormier chilled backstage with a replica championship belt and playfully declared he might not be done with WWE.

“I’m defending this thing on the way out,” Cormier said. “Bam! Right upside the head.”

Cormier laughed at the idea of knocking out a wrestler out with a belt. But the thought of the UFC Hall of Fame fighter following in the path of Ronda Rousey, Matt Riddle and others who crossed over from mixed martial arts to professional wrestler is a very real one for Cormier.

The lifelong fan — Randy Savage was his all-time favorite — wore a traditional referee’s uniform for his role in the match between Riddle and Rollins at the WWE “Extreme Rules” card Saturday night at the Wells Fargo Center. Cormier got in Rollins’ face here and there but largely stayed out of the fray in a fight won by Riddle — who spent five years with UFC — by submission.

“Those guys are so talented,” Cormier said in an interview with The Associated Press. “They knew exactly what they were going to do and I was just trying to stay out of the way. I didn’t want to get in the way and mess something up.”

The 43-year-old Cormier retired from MMA following his 2020 loss to Stipe Miocic in a bout for the UFC heavyweight championship. While Cormier did break his own deadline of not fighting past his 40th birthday, he largely left the sport on his own terms. Cormier simultaneously held the UFC heavyweight and light heavyweight championships, won championships in other MMA promotions, and built a reputation as one of the sport’s good guys. He’s a businessman and a burgeoning actor, and he stayed in the UFC game as a commentator with Joe Rogan for the biggest fight cards.

“I’m still a part of the show,” he said. “Then you do something like tonight and you get the crowd yelling for you, screaming.”

The reaction just tugs even more at his pro wrestling pull.

Like some of wrestling's greats, Cormier is pretty good on a microphone and tried for years to bait Brock Lesnar into a fight inside the UFC cage. Lesnar started in WWE before he jumped to UFC and won the heavyweight championship and then returned to WWE and became one of the company’s biggest stars. Cormier took the mic after he beat Miocic in July 2018 and issued a challenge to Lesnar.

“I never thought I would fight him, but Brock Lesnar, get your ass in here,” he said as the Las Vegas crowd roared.

Lesnar entered the cage and the fighters postured and pushed each other in some made-for-TV entertainment. Lesnar grabbed the mic and bellowed, “DC, I’m coming for you!” Cormier then ordered Lesnar to “get out of my octagon, I’ve got some pictures to take.”

Alas, the dream fight between the hulking heavyweights never happened in UFC.

But now, inside a WWE ring, where Lesnar is still a box office draw? Anything is possible.

Cormier said the matchup does intrigue him, but not right away.

“I’ve been retired for a couple of years and I look like it. But I’d have to get in shape if I ever want to do something like that," Cormier said. "The door is not closed on anything right now in my life.”

Cormier had UFC President Dana White’s blessing to dabble in WWE. WWE chief content officer Paul “Triple H” Levesque tweeted that Cormier “looks right at home inside the Fight Pit,” which was a fancy name for a steel cage match.

“You just hope that you did a good enough job that they ask you back,” Cormier said.

Cormier, who said he has no future commitments with WWE, is scheduled to soon start shooting his role in the “Warrior” TV series slated for the Paramount+ streaming service. But he’s ready to take the call to return to the squared circle and tangle with Lesnar, Rollins or any WWE star, if needed.

“I’m still at an age where there are some opportunities, but those opportunities need to start now if they’re going to be something I pursue,” he said.




WWE News: JBL on Shawn Michaels angle, Gagne tragedy, Working for his wife on Wall Street
(Credit: Pro Wrestling Torch)


WWE Wrestling JBL

-- JBL said in his latest blog on WWE Universe that he won't be facing The Undertaker at WrestleMania 25 after losing to Shawn Michaels on Raw, but he has other plans.

"I still believe I am destined to do something great at Mania so tune in Monday Night and you will see my plan start to unfold," JBL said.

-- On the tragic Verne Gagne story that is being investigated as a homicide, JBL said: Really sad to hear about the events regarding Mr. Gagne. I really wish him, the other family, and his family the best in the tragedy."

-- One of the big stories on Wall Street last week was his wife, renown investment analyst Meredith Whitney, starting her own firm specializing in Investment Banking. JBL is licensed to work in that area, so he will be helping Meredith advance her career in the financial industry.

Whitney made the decision following the government's recent intervention in the financial market and JBL believes they can compete against other Wall Street firms for business.

"I am now working for my wife-didn't think that would happen, but I am happy," he said.

Link: JBL blog on WWE Universe.

Greg Tingle comment...

JBL might just be the world's greatest active pro wrestler blogger! The way Layfield has diversified and has created numerous revenue streams and news worthy elements in the process is ultra impressive. If being a total package in the pro wresting industry is part of the key, like Hogan and The Rock were able to do so successfully, JBL is a champion all the way. I witnessed Layfield wrestling in Germany approximately 15 years ago and he worked his ass off. It goes not surprise me to see him going so well. His going on record regarding 'The Wrestler' were gutsy and showed insight that the wrestling business seldom sees. It appears that Layfield's goal to not end up broke like 'The Wrestler' and helping fuel his goals. I believe that Layfield is showing strong leadership in the professional wrestling business for taking on what he has, and it may inspire other wrestlers to diversify and think outside the square. Layfield's darn hard work and staying power, combined with his improved mic work has made him stand out from the pack which is part of the secret in the wrestling business. There may be a spot very close to the likes of Roddy Piper, Chris Jericho and The Funks. Layfield in a clique or tag team situation with Triple H might work, with them both being power players that WWE would be much worse off without, and I think the fans and WWE top brass know this. It appears he also has a great career ahead of him as a writer should Layfield do down that path, and in the current times I think one might do well to listen to his firms financial advise as apposed to some of the others on Wall Street. JBL used to be average, but these days he's a champion. The real deal and one major player for 2009, both in the WWE and in his other endeavours.



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