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WWE and UFC to Merge in $21 Billion Deal, Forming New Global Live Sports and Entertainment Company
- Client News
- April 3, 2023
Paul, Weiss is advising World Wrestling Entertainment, Inc. (WWE) in its agreement with Endeavor Group Holdings, Inc. to form a new publicly listed company comprised of two iconic complementary global sports and entertainment brands: UFC and WWE. Under the terms of the deal Endeavor will hold a 51% controlling interest and existing WWE shareholders will hold a 49% interest in the new company.
The transaction values the combination of WWE and UFC at more than $21 billion. The deal, which is expected to close in the second half of 2023, is subject to customary closing conditions and regulatory approvals.
The Paul, Weiss team is led by partners Kyle Seifried, Scott Barshay, Daniel Kramer and Jean McLoughlin, and counsel Benjamin Goodchild, and includes corporate partners Raphael Russo and John Kennedy, and counsel Jason Tyler, David Sobel and Patricia Vaz de Almeida; executive compensation counsel Cynthia Akard; tax partner Brian Krause; intellectual property and entertainment partner Charles Googe; litigation partners Andre Bouchard, Geoffrey Chepiga, Joshua Soven and Mark Mendelsohn, and counsel Steven Herzog, Matthew Stachel and Mitchell Webber; antitrust counsel Marta Kelly; and environmental counsel William O'Brien.