WWE McMahon’s slugfest loss is shareholder win

Endeavor group

13/11/2023 18:28

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
    By Streisand  Neto and Jennifer Saba
       LONDON and NEW YORK, Nov 13 (Reuters Breakingviews) -
T he person behind the professional wrestling firm is selling
shares just after it merged with Endeavor’s UFC. That could be a
precursor to him bowing to Hollywood mogul Ari Emanuel. McMahon
may feel it’s anticlimactic. But giving investors clarity on
leadership is a victory.        
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    CONTEXT NEWS
Vince McMahon, the executive chair of the $14 billion WWE-owner
TKO Group, said on Nov. 9 he intends to sell 8.4 million Class A
shares of the wrestling and mixed martial arts company. McMahon
holds 28.8 million shares, or 34.6% of TKO, which was formed in
September when McMahon merged his professional wrestling firm
WWE with entertainment company Endeavor’s Ultimate Fighting
Championship. Endeavor holds 51% of TKO.
    In connection with the offering, TKO CEO Ari Emanuel and TKO
President and COO Mark Shapiro purchased 12,531 and 10,650 Class
A shares, respectively.

 (Editing by Lauren Silva Laughlin and Aditya Sriwatsav)
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