Sporticast: UFC, WWE Team Up in $21 Billion Combat Venture
On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including a major wrestling acquisition. Endeavor has reached a deal to acquire WWE and package it alongside UFC in a new, combined publicly traded company.
The deal values UFC, which Endeavor acquired in 2016, at $12.1 billion. It values WWE at $9.3 billion. Endeavor will have a 51% stake in the new business, which will trade under the ticker symbol $TKO, with the other 49% held by current WWE shareholders. The hosts talk about the business synergies between WWE and UFC, perhaps the two most dominant brands in combat sports and entertainment, and how the two could maximize their strengths in media, streaming, marketing and live events.
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Next, the hosts discuss the growing popularity of the women’s NCAA basketball tournament. Caitlin Clark’s historic scoring and LSU’s championship run have drawn more people to watch this year’s event than any prior women’s tournament. And it comes as the NCAA considers a new approach to selling the tournament’s media rights.
Lastly, they talk about the NBA’s latest CBA agreement. The league and its players union agreed on a seven-year deal late Friday night, which will kick in for the 2023-24 season. Labor peace is often the precursor to a new media deal, because it gives networks confidence that games won’t be missed due to a lockout or a strike.
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