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Tag: Endeavor Group Holdings

  • Silver Lake To Take Endeavor Private, TKO Share-Price Sees Dramatic Rise

    Silver Lake To Take Endeavor Private, TKO Share-Price Sees Dramatic Rise

    Endeavor, the parent company of TKO Group Holdings/WWE is to be taken private and will see all shares acquired by private equity firm Silver Lake. 

    As part of the deal, Endeavor stockholders will receive $27.50 per share in cash, representing a premium of 55% to the closing price of $17.72. This number was before Silver Lake said in October 2023 that they were working on a proposal to take the company private. 

    What This Means for TKO

    Endeavor has said that it would not consider a sale of its majority interest in TKO Group Holdings, which consists of both WWE and the UFC. TKO is not party to this transaction and will remain a publicly traded company, the companies said on Tuesday.

    While TKO is not expected to be directly involved with this move, the company is seeing a benefit from the change. After news of Endeavor’s privatization was announced, stock in the WWE company rose significantly. It had been trading at $86.66 a share before the news broke and rose to $90.78 a share within 90 minutes of the announcement. 

    TKO Group Holdings

    TKO was officially launched in September 2023. It was announced back in April 2023 that Endeavor was to acquire WWE as part of a historic $9.3 billion deal. The merger of WWE and UFC into TKO did not come without casualties as over 100 employees were let go last year in efforts to synchronize the two sports promotions. WWE would host its first wave of talent releases post-TKO launch that same month. 

  • Endeavor Expected to Cut Vince McMahon Associates To Ensure “Fresh Start” for WWE

    Endeavor Expected to Cut Vince McMahon Associates To Ensure “Fresh Start” for WWE

    Vince McMahon’s time with WWE and TKO has come to an end, and he may be just the first of many to exit both companies. 

    McMahon’s departure from WWE/TKO was announced mere hours ago. Earlier this week, Janel Grant, a former WWE employee, alleged that McMahon had sexually abused her and trafficked her during her tenure with the company. After his resignation was announced, McMahon continued to deny the claims made against him in the lawsuit, which he has previously described as “obscene made-up instances.”

    More Departures to Come? 

    There is a belief in WWE that Endeavor may sweep out anyone close to Vince McMahon following the billionaire’s resignation this week, PW Insider reports. The gist is that a complete “fresh start” for the company is needed going forward, which may mean cuts to his remaining team. 

    There were employees who exited WWE when McMahon initially re-signed in 2022 who would find a way back when he strong-armed his way back onto the Board of Directors in January 2023. There is also a belief among those PW Insider spoke to that anyone with a connection to McMahon may be seen as a major negative going forward, and that may affect their WWE status. 

    Backstage Reaction

    Those within WWE expected a fallout after Slim Jim paused their big-money sponsorship with the company due to the allegations. Sources within WWE added that anyone’s connection to McMahon may be seen as a “major negative going forward.” Those who left when McMahon did in 2022 and who returned when he returned in January 2023 could be on the chopping block. 

    Changing WWE Plans? 

    McMahon may be gone, but this situation could possibly change plans for tonight’s Royal Rumble Premium Live Event. Brock Lesnar is expected for tonight’s event, but this may change due to Grant’s lawsuit. While Lesnar isn’t mentioned by name, Grant alleges that she was trafficked to a former UFC Heavyweight Champion, believed to be Brock.