After seven decades in the McMahon family, WWE will reportedly have a new owner.
WWE will be absorbed into the Endeavor Group, according to a Sunday afternoon report from Alex Sherman of CNBC. The Endeavor Group is the parent company of the UFC, which it acquired in 2016.
According to Sherman, "(the) UFC and WWE are expected to form a new publicly traded company as part of the agreement." Endeavor is said to value WWE at $9.3 billion.
WWE executive chairman Vince McMahon has been attempting to sell the company for months, following a tumultuous 2022 in which McMahon temporarily stepped aside as company CEO amid sexual misconduct and hush money scandals.
The company has been in the McMahon family since 1953, when they founded the Capitol Wrestling Corporation in New York City. It evolved over time into the WWF, which changed its name to WWE in 2002.
Ari Emanuel, CEO of Endeavor, will reportedly lead the company in both its present and future state.
