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00:36

WWE and UFC to merge in new $21bn sports entertainment brand

WWE and the owners of the UFC are set to form a new $21bn sports entertainment brand.

An official statement on Monday 3 April confirmed Endeavor is merging with the biggest professional wrestling promotion in the world, just hours after the conclusion of WrestleMania 39.

“[Endeavor] and [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,” the statement read.

Endeavor will own a controlling 51 per cent stake in the company while existing WWE shareholders will own the other 49 per cent.

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