WWE AND UFC TO Merge, Creating $21 Billion Giant

World Wrestling Entertainment (WWE) and mixed martial arts franchise UFC, owned by Endeavor Group, will merge to create a new entertainment giant valued at around $21 billion, the companies announced today.

The deal marks the conclusion of WWE's months-long sale process overseen by co-founder Vince McMahon. The newly formed company, to be majority-owned by Endeavor with a 51% stake, will be listed under the ticker symbol "TKO" on the New York Stock Exchange.