Vince McMahon Sells WWE

WWE has been sold by former CEO Vince McMahon to Ari Emanuel’s Endeavor Group and will join with UFC to form a new publicly-traded company.

After being initially reported by CNBC on Sunday, it has now been made official: WWE has been purchased by Ari Emanuel’s Endeavor Group and will join with UFC to form a new publicly-traded company, holding a supposed collective value of more than $21 billion. Former WWE CEO Vince McMahon, who re-joined the company’s Board of Directors as executive chairman in January, reportedly to help facilitate a sale, called the move “the best outcome for our shareholders and other stakeholders.”

“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,” McMahon said. “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.”

A bill introduced in the state legislature proposes to supplement Texas’ existing grant program with a new, uncapped scheme targeted at big-budget projects of at least $15 million, which could bring Hollywood to Texas.

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