UFC parent company Endeavor Group is close to a deal to acquire World Wrestling Entertainment, according to a report Sunday.
CNBC reported that Ari Emanuel’s Endeavor is in advanced talks to acquire 51% of Vince McMahon’s WWE, giving WWE an enterprise value of about $9.3 billion. A deal could be announced Monday, according to CNBC.
According to the report, Endeavor CEO Emanuel would become chief executive of WWE, while McMahon would be its executive chairman. It also said Dana White would remain president of UFC.
WWE has reportedly been seeking a buyer for months, after McMahon rejoined the company as executive chairman in January, months after resigning amid sexual misconduct allegations. One case was reportedly settled last year, while another was reportedly settled in January.
In March, WWE said McMahon had agreed to repay the company about $17.4 million to cover costs related to the company’s investigation into the allegations.
WWE shares
WWE,
have surged 33% year to date, and are up 46% over the past 12 months. Endeavor shares
EDR,
are up 6% this year, and down 19% over the past year.
This post was originally published on Market Watch
