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According to the complaint filed by investors, WWE board members “conjured up a sham sales process” designed to favor Endeavor and “exclude other bidders seeking to axe” McMahon, disregarding at least two all cash offers with betters terms.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eThe complaint extensively details McMahon’s turbulent tenure as head of WWE, culminating in September with the formation of TKO Group through a $21 billion merger between UFC and WWE. He had returned to the company in January after having stepped down as chief executive amid a sexual misconduct investigation into $17.4 million in hush money payments to four different women formerly employed by the company. McMahon, as WWE’s controlling stockholder, removed and replaced three then-serving board members with himself and former executives George Barrios and Michelle Wilson.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003e“If McMahon was found to have breached his duty of loyalty, WWE stockholders could have sought his removal as a director,” states the suit. “Such scrutiny appears to have prompted McMahon to seek a ‘quick’ sale of the Company that also allowed him to continue running WWE.”\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eWWE announced on the same day as McMahon’s return in January a review of strategic options. In a statement, he said that he wanted to lead any talks about a possible sale or rights negotiations himself. Investors claim that he immediately turned to Emanuel, his former agent whom he “knew would allow him to remain at the helm” of the merged entity. They say that both the process and price point were unfair, alleging there were betters deals on the table.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eAccording to the complaint, this included undisclosed companies submitting cash offers at $95-$100 and $90-$97.50 per share. But because they contemplated cashing out WWE stockholders and barred McMahon from rolling over his shares, which would’ve signaled his “complete ouster” from the wrestling world, the board “never bothered to make” counterproposals, the suit states.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eInstead, WWE exclusively negotiated with Endeavor, proposing an all-stock deal that was contingent upon McMahon serving as executive chairman of the combined company, the complaint says. Endeavor ultimately agreed, with it owning 51 percent of the post-deal firm and former WWE stockholders owning the remaining 49 percent. Investors allege that merger was consummated at $95.66 per share, which fell below two competing, all-cash offers. (Those WWE suitors were redacted in the complaint. But the companies were described as “major institutions with significant access to capital” that had “compelling reasons to close an acquisition of WWE.” One of them likely had “significant runway to increase its offer due to the outsized synergies it could generate in a combination with” the company, the suit says.)\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003e“Not only did he secure a future for himself at post-merger WWE, McMahon also stuffed his pockets and those of his loyalists before agreeing to a deal,” states the complaint, which points to he and former chief executive Nick Kahn securing so-called golden parachutes, along with Khan, McMahon’s son-in-law and WWE chief content officer Paul Levesque (known professionally as “Triple-H”) and WWE president Frank A. Riddick getting a combined $25 million in cash bonuses.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eThe suit argues that the $21 billion price tag undervalues WWE. It’s “far below the offers” the board could’ve obtained from multiple other bidders had it “made any effort to negotiate in good faith,” investors claim.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eAccording to the complaint, McMahon and his allies on the board “timed negotiations” to favor a deal with Endeavor, including by providing early due diligence and backchanneling information to the company so that it was able to make an early offer. During this process, WWE only secured a budget for UFC’s current fiscal year rather than insisting on a full set of multi year projections, as is customary, despite agreeing to merger consideration that depended on valuing UFC accurately, the suit says. By rushing to secure a merger with Endeavor without conducting adequate due diligence, investors argue the board got an unfavorable deal in agreeing to a 51-49 split.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eThe complaint, filed by an Ohio pension fund, names McMahon, Khan, Levesque, Barrios and Wilson, among others. It contains various claims for breach of contract and seeks to represent all stockholders who cashed out their shares in the merger.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eWWE didn’t respond to a request for comment.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003esource: Hollywood Reporter\u003c/div\u003e\u003cdiv class\u003d\"blogger-post-footer\"\u003e\u003cscript expr:src\u003d'\"http://feeds.feedburner.com/~s/Klq?i\u003d\" + data:post.url' type\u003d\"text/javascript\" charset\u003d\"utf-8\"\u003e\u003c/script\u003e\u003c/div\u003e"},"link":[{"rel":"replies","type":"text/html","href":"https://www.klqwrestling.com/2023/11/wwe-ufc-merger-challenged-in-lawsuit.html#comment-form","title":"0 Comments"},{"rel":"edit","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/5221972267142987951"},{"rel":"self","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/5221972267142987951"},{"rel":"alternate","type":"text/html","href":"https://www.klqwrestling.com/2023/11/wwe-ufc-merger-challenged-in-lawsuit.html","title":"WWE-UFC Merger Challenged In Lawsuit Alleging “Sham Sales Process” for Megadeal"}],"author":[{"name":{"$t":"Kaliqo~"},"uri":{"$t":"https://www.blogger.com/profile/16883827855779815366"},"email":{"$t":"noreply@blogger.com"},"gd$image":{"rel":"http://schemas.google.com/g/2005#thumbnail","width":"32","height":"32","src":"//images-blogger-opensocial.googleusercontent.com/gadgets/proxy?url\u003dhttp://1.bp.blogspot.com/_GAU61F_GcXw/Sq5xKvM2cyI/AAAAAAAAALA/SD6S9DAAU3M/S220-s100/allura-logo.jpg\u0026container\u003dblogger\u0026gadget\u003da\u0026rewriteMime\u003dimage/*"}}],"thr$total":{"$t":"0"}},{"id":{"$t":"tag:blogger.com,1999:blog-7964262.post-271131118064272793"},"published":{"$t":"2023-09-12T12:28:00.012-04:00"},"updated":{"$t":"2023-10-11T19:44:02.842-04:00"},"category":[{"scheme":"http://www.blogger.com/atom/ns#","term":"Shane McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"WWE"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Stephanie McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Endeavor"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Wrestling News"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Linda McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"TKO Group Holdings"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Wrestling History"},{"scheme":"http://www.blogger.com/atom/ns#","term":"UFC"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Vince McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Triple H"}],"title":{"type":"text","$t":"Endeavor Announces Close of UFC® And WWE® Transaction To Create TKO Group Holdings, A Premium Sports And Entertainment Company"},"content":{"type":"html","$t":"\u003cdiv class\u003d\"separator\" style\u003d\"clear: both; text-align: center;\"\u003e\u003ca href\u003d\"https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF0FEf__TVLa0w6FksJdhzApTwJq2Qs3FaMiRI-Bj6V7Lp_8cwxnhj4Fk-pSwsUsS8fUpY-n3_1tqC74rprMTLQ1da39ygOQvEehtlnwci-RB7xLwDChawGL4FuFRxtK-qx1yrgbUIi7EZ7hZVUWXhEy-DjE5qMfyeTXRv6Oj7-_-P9AABfK3iuw/s1200/F50kmVJXoAA4Zjn.jpeg\" style\u003d\"margin-left: 1em; margin-right: 1em;\"\u003e\u003cimg border\u003d\"0\" data-original-height\u003d\"1200\" data-original-width\u003d\"909\" height\u003d\"400\" src\u003d\"https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF0FEf__TVLa0w6FksJdhzApTwJq2Qs3FaMiRI-Bj6V7Lp_8cwxnhj4Fk-pSwsUsS8fUpY-n3_1tqC74rprMTLQ1da39ygOQvEehtlnwci-RB7xLwDChawGL4FuFRxtK-qx1yrgbUIi7EZ7hZVUWXhEy-DjE5qMfyeTXRv6Oj7-_-P9AABfK3iuw/w349-h400/F50kmVJXoAA4Zjn.jpeg\" width\u003d\"349\" /\u003e\u003c/a\u003e\u003c/div\u003e\u003cbr /\u003e\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cp\u003eEndeavor Announces Close of UFC® and WWE® Transaction to Create TKO Group Holdings, a Premium Sports and Entertainment Company\u003c/p\u003e\u003cp\u003eNew Company to Begin Trading Today, September 12, on the New York Stock Exchange Under “TKO” Ticker Symbol\u003c/p\u003e\u003cp\u003eBEVERLY HILLS, Calif. \u0026amp; STAMFORD, Conn.--(BUSINESS WIRE)--Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (previously NYSE: WWE) (“WWE”) today announced the close of their previously announced agreement and the launch of TKO Group Holdings, Inc. (NYSE: TKO) (“TKO”).\u003c/p\u003e\u003cp\u003eTKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans1, reaching viewers in 180 countries, and producing more than 350 annual live events. Through this combination, TKO will leverage Endeavor’s expertise in areas including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.\u003c/p\u003e\u003cp\u003e“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ariel Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”\u003c/p\u003e\u003cp\u003e“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” said Vince McMahon, Executive Chairman of TKO. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”\u003c/p\u003e\u003cp\u003eTKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO,” with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.\u003c/p\u003e\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cp\u003eAs previously announced, TKO is led by:\u003c/p\u003e\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cp\u003eAriel Emanuel, Chief Executive Officer, who continues as Chief Executive Officer of Endeavor;\u003c/p\u003e\u003cp\u003eMark Shapiro, President and Chief Operating Officer, who continues as President and Chief Operating Officer of Endeavor;\u003c/p\u003e\u003cp\u003eAndrew Schleimer, Chief Financial Officer; and\u003c/p\u003e\u003cp\u003eSeth Krauss, Chief Legal Officer, who continues as Chief Legal Officer of Endeavor.\u003c/p\u003e\u003cp\u003eDana White is now Chief Executive Officer of UFC and Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.\u003c/p\u003e\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cp\u003eThe Board of Directors of TKO is led by Vince McMahon as Executive Chairman of the Board and consists of 11 members, including Mr. Emanuel, Mr. Shapiro, and Mr. Khan, in addition to the following directors:\u003c/p\u003e\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cp\u003ePeter C.B. Bynoe, Senior Advisor at DLA Piper LLP;\u003c/p\u003e\u003cp\u003eEgon P. Durban, Co-Chief Executive Officer of Silver Lake;\u003c/p\u003e\u003cp\u003eSteven R. Koonin, Chief Executive Officer of the Atlanta Hawks, LLC;\u003c/p\u003e\u003cp\u003eJonathan A. Kraft, President of the Kraft Group LLC;\u003c/p\u003e\u003cp\u003eSonya E. Medina, President and Chief Executive Officer of Reach Resilience;\u003c/p\u003e\u003cp\u003eNancy R. Tellem, Executive Chairperson and Chief Media Officer of Eko; and\u003c/p\u003e\u003cp\u003eCarrie Wheeler, Chief Executive Officer and a board member of Opendoor Technologies Inc.\u003c/p\u003e\u003cdiv class\u003d\"blogger-post-footer\"\u003e\u003cscript expr:src\u003d'\"http://feeds.feedburner.com/~s/Klq?i\u003d\" + data:post.url' type\u003d\"text/javascript\" charset\u003d\"utf-8\"\u003e\u003c/script\u003e\u003c/div\u003e"},"link":[{"rel":"replies","type":"text/html","href":"https://www.klqwrestling.com/2023/09/endeavor-announces-close-of-ufc-and-wwe_12.html#comment-form","title":"0 Comments"},{"rel":"edit","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/271131118064272793"},{"rel":"self","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/271131118064272793"},{"rel":"alternate","type":"text/html","href":"https://www.klqwrestling.com/2023/09/endeavor-announces-close-of-ufc-and-wwe_12.html","title":"Endeavor Announces Close of UFC® And WWE® Transaction To Create TKO Group Holdings, A Premium Sports And Entertainment Company"}],"author":[{"name":{"$t":"Kaliqo~"},"uri":{"$t":"https://www.blogger.com/profile/16883827855779815366"},"email":{"$t":"noreply@blogger.com"},"gd$image":{"rel":"http://schemas.google.com/g/2005#thumbnail","width":"32","height":"32","src":"//images-blogger-opensocial.googleusercontent.com/gadgets/proxy?url\u003dhttp://1.bp.blogspot.com/_GAU61F_GcXw/Sq5xKvM2cyI/AAAAAAAAALA/SD6S9DAAU3M/S220-s100/allura-logo.jpg\u0026container\u003dblogger\u0026gadget\u003da\u0026rewriteMime\u003dimage/*"}}],"media$thumbnail":{"xmlns$media":"http://search.yahoo.com/mrss/","url":"https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF0FEf__TVLa0w6FksJdhzApTwJq2Qs3FaMiRI-Bj6V7Lp_8cwxnhj4Fk-pSwsUsS8fUpY-n3_1tqC74rprMTLQ1da39ygOQvEehtlnwci-RB7xLwDChawGL4FuFRxtK-qx1yrgbUIi7EZ7hZVUWXhEy-DjE5qMfyeTXRv6Oj7-_-P9AABfK3iuw/s72-w349-c-h400/F50kmVJXoAA4Zjn.jpeg","height":"72","width":"72"},"thr$total":{"$t":"0"}},{"id":{"$t":"tag:blogger.com,1999:blog-7964262.post-5861550032800987919"},"published":{"$t":"2023-09-11T18:51:00.008-04:00"},"updated":{"$t":"2023-09-11T18:56:40.749-04:00"},"category":[{"scheme":"http://www.blogger.com/atom/ns#","term":"Shane McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"WWE"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Stephanie McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Endeavor"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Wrestling News"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Linda McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"TKO Group Holdings"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Wrestling History"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Raw"},{"scheme":"http://www.blogger.com/atom/ns#","term":"UFC"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Vince McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Triple H"}],"title":{"type":"text","$t":"End Of An Era"},"content":{"type":"html","$t":"\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cdiv class\u003d\"separator\" style\u003d\"clear: both; text-align: center;\"\u003e\u003ca href\u003d\"https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXnu0N1GwJUsdypFXlmIt2R3aVi54R__kWgi37DFeYrThQ6GQXOgp0MkTs60fmoQjhHeIn9Y_AlGzurXvBQXeOAyqKJstoGzxdkojLipRUng94MhjzsKGHAoSTObGssX6_QbRdByM29Lka4pNDW1LjaLB7bMuJspRwRVlW0biYBCOL82CvriZdkg/s1200/FsyNcvIaMAAD9C1.0.jpg\" imageanchor\u003d\"1\" style\u003d\"margin-left: 1em; margin-right: 1em;\"\u003e\u003cimg border\u003d\"0\" data-original-height\u003d\"800\" data-original-width\u003d\"1200\" height\u003d\"213\" src\u003d\"https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXnu0N1GwJUsdypFXlmIt2R3aVi54R__kWgi37DFeYrThQ6GQXOgp0MkTs60fmoQjhHeIn9Y_AlGzurXvBQXeOAyqKJstoGzxdkojLipRUng94MhjzsKGHAoSTObGssX6_QbRdByM29Lka4pNDW1LjaLB7bMuJspRwRVlW0biYBCOL82CvriZdkg/s320/FsyNcvIaMAAD9C1.0.jpg\" width\u003d\"320\" /\u003e\u003c/a\u003e\u003c/div\u003e\u003cbr /\u003e\u003cp\u003e\u003cbr /\u003e\u003c/p\u003e\u003cp\u003eTonight's WWE Raw will be the last WWE show under the full majority control of Vince McMahon. End of an era.\u003c/p\u003e\u003cdiv class\u003d\"blogger-post-footer\"\u003e\u003cscript expr:src\u003d'\"http://feeds.feedburner.com/~s/Klq?i\u003d\" + data:post.url' type\u003d\"text/javascript\" charset\u003d\"utf-8\"\u003e\u003c/script\u003e\u003c/div\u003e"},"link":[{"rel":"replies","type":"text/html","href":"https://www.klqwrestling.com/2023/09/end-of-era.html#comment-form","title":"0 Comments"},{"rel":"edit","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/5861550032800987919"},{"rel":"self","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/5861550032800987919"},{"rel":"alternate","type":"text/html","href":"https://www.klqwrestling.com/2023/09/end-of-era.html","title":"End Of An Era"}],"author":[{"name":{"$t":"Kaliqo~"},"uri":{"$t":"https://www.blogger.com/profile/16883827855779815366"},"email":{"$t":"noreply@blogger.com"},"gd$image":{"rel":"http://schemas.google.com/g/2005#thumbnail","width":"32","height":"32","src":"//images-blogger-opensocial.googleusercontent.com/gadgets/proxy?url\u003dhttp://1.bp.blogspot.com/_GAU61F_GcXw/Sq5xKvM2cyI/AAAAAAAAALA/SD6S9DAAU3M/S220-s100/allura-logo.jpg\u0026container\u003dblogger\u0026gadget\u003da\u0026rewriteMime\u003dimage/*"}}],"media$thumbnail":{"xmlns$media":"http://search.yahoo.com/mrss/","url":"https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXnu0N1GwJUsdypFXlmIt2R3aVi54R__kWgi37DFeYrThQ6GQXOgp0MkTs60fmoQjhHeIn9Y_AlGzurXvBQXeOAyqKJstoGzxdkojLipRUng94MhjzsKGHAoSTObGssX6_QbRdByM29Lka4pNDW1LjaLB7bMuJspRwRVlW0biYBCOL82CvriZdkg/s72-c/FsyNcvIaMAAD9C1.0.jpg","height":"72","width":"72"},"thr$total":{"$t":"0"}},{"id":{"$t":"tag:blogger.com,1999:blog-7964262.post-2868962051633597750"},"published":{"$t":"2023-09-07T13:30:00.026-04:00"},"updated":{"$t":"2023-09-07T13:41:52.299-04:00"},"category":[{"scheme":"http://www.blogger.com/atom/ns#","term":"WWE"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Wrestling News"},{"scheme":"http://www.blogger.com/atom/ns#","term":"TKO Group Holdings"},{"scheme":"http://www.blogger.com/atom/ns#","term":"UFC"}],"title":{"type":"text","$t":"UFC And WWE To Close Merger Next Week, Make NYSE Debut As TKO Group"},"content":{"type":"html","$t":"UFC parent Endeavor Group and World Wrestling Entertainment said today they expect to close the planned merger of UFC and WWE on September 12. That’s on the earlier end of expectations as Endeavor said in August it expected the deal to close in mid-to-late September.\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eEndeavor and WWE announced a deal last spring for the Ari Emanuel-led company to take control of WWE and merge it into a new, stand-alone entity with UFC. The professional wrestling and mixed martial arts powerhouse will be called TKO Group Holdings and trade on the New York Stock Exchange. Valued at $21 billion, TKO will be a subsidiary of Endeavor, with 51% control. WWE (Raw, SmackDown) will control 49%.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eEmanuel will be CEO. continue as president of UFCVince McMahon, WWE’s longtime leader, executive chairman and major shareholder, who orchestrated the deal with Endeavor, was set as executive chair of the new company’s board.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003eIn early August, WWE announced federal law enforcement agents had executed a search warrant and served a federal grand jury subpoena on McMahon although no charges had been brought. WWE CEO Nick Khan also said then that McMahon was on a medical leave of absence until further notice following spinal surgery. launched an internal probe of McMahon in 2022 to investigate allegations of payments to women, which it found had totaled close to $20 million and that caused it to revise several quarterly financial statements. The probe wrapped up last November and McMahon paid the company $17.4 million for costs incurred.\u003c/div\u003e\u003cdiv\u003e\u003cbr /\u003e\u003c/div\u003e\u003cdiv\u003e\u003ci\u003esource:\u0026nbsp; deadline.com\u003c/i\u003e\u003c/div\u003e\u003cdiv class\u003d\"blogger-post-footer\"\u003e\u003cscript expr:src\u003d'\"http://feeds.feedburner.com/~s/Klq?i\u003d\" + data:post.url' type\u003d\"text/javascript\" charset\u003d\"utf-8\"\u003e\u003c/script\u003e\u003c/div\u003e"},"link":[{"rel":"replies","type":"text/html","href":"https://www.klqwrestling.com/2023/09/ufc-and-wwe-to-close-merger-next-week.html#comment-form","title":"0 Comments"},{"rel":"edit","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/2868962051633597750"},{"rel":"self","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/2868962051633597750"},{"rel":"alternate","type":"text/html","href":"https://www.klqwrestling.com/2023/09/ufc-and-wwe-to-close-merger-next-week.html","title":"UFC And WWE To Close Merger Next Week, Make NYSE Debut As TKO Group"}],"author":[{"name":{"$t":"Kaliqo~"},"uri":{"$t":"https://www.blogger.com/profile/16883827855779815366"},"email":{"$t":"noreply@blogger.com"},"gd$image":{"rel":"http://schemas.google.com/g/2005#thumbnail","width":"32","height":"32","src":"//images-blogger-opensocial.googleusercontent.com/gadgets/proxy?url\u003dhttp://1.bp.blogspot.com/_GAU61F_GcXw/Sq5xKvM2cyI/AAAAAAAAALA/SD6S9DAAU3M/S220-s100/allura-logo.jpg\u0026container\u003dblogger\u0026gadget\u003da\u0026rewriteMime\u003dimage/*"}}],"thr$total":{"$t":"0"}},{"id":{"$t":"tag:blogger.com,1999:blog-7964262.post-4002317591307266483"},"published":{"$t":"2023-08-11T19:15:00.003-04:00"},"updated":{"$t":"2023-08-30T05:41:54.144-04:00"},"category":[{"scheme":"http://www.blogger.com/atom/ns#","term":"Shane McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"WWE"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Stephanie McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Endeavor"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Television Ratings"},{"scheme":"http://www.blogger.com/atom/ns#","term":"WWE NXT"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Linda McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"TKO Group Holdings"},{"scheme":"http://www.blogger.com/atom/ns#","term":"UFC"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Vince McMahon"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Triple H"}],"title":{"type":"text","$t":"Details On Endeavor Deal, WWE-UFC Merger And Plans For NXT"},"content":{"type":"html","$t":"\u003cdiv\u003eFollowing the news from earlier this week that the WWE-UFC merger under Endeavor is expected to close next month, Dave Meltzer's latest Wrestling Observer Newsletter offers up some additional details. The report states that layoffs and other efforts to save money are expected to begin within the company very soon. Additionally, Meltzer indicates that people within Endeavor are hoping to work with WWE to make NXT more of a \"sustainable third brand.\"\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eThe idea behind that is to increase the show's ratings, allowing it to bring in higher TV rights fees. According to Meltzer, the company hopes to make NXT a touring brand once again, with both live events and TV taped on the road. However, there is no timeline for when this will become a reality.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eAs for the previously discussed revival of \"NXT U.K.,\" there is reportedly an idea for a full-time Performance Center in London, as well as the introduction of a new show focused on all of Europe. However, there will be no updates on that until at least next year.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eWWE's stock price hit another record-high earlier this week, reaching $114 per share, giving the company a market valuation of nearly $8.5 billion. When the dust settles, the board of TKO will include six individuals from Endeavor and five from WWE. On the WWE side, that includes both Vince McMahon and current WWE CEO Nick Khan, as well as Steve Koonin, Nancy Teliem, and one more individual who has yet to be revealed.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eIn addition to remaining on the Board of Directors, Vince McMahon will own 16.4% of the stock for the new company, which will be called TKO. Stephanie McMahon will own 1.1% while Linda McMahon will have 0.3% of the company's stock. There was no word on how many shares Shane McMahon will own.\u003c/div\u003e\u003cdiv class\u003d\"blogger-post-footer\"\u003e\u003cscript expr:src\u003d'\"http://feeds.feedburner.com/~s/Klq?i\u003d\" + data:post.url' type\u003d\"text/javascript\" charset\u003d\"utf-8\"\u003e\u003c/script\u003e\u003c/div\u003e"},"link":[{"rel":"replies","type":"text/html","href":"https://www.klqwrestling.com/2023/08/details-on-endeavor-deal-wwe-ufc-merger.html#comment-form","title":"0 Comments"},{"rel":"edit","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/4002317591307266483"},{"rel":"self","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/4002317591307266483"},{"rel":"alternate","type":"text/html","href":"https://www.klqwrestling.com/2023/08/details-on-endeavor-deal-wwe-ufc-merger.html","title":"Details On Endeavor Deal, WWE-UFC Merger And Plans For NXT"}],"author":[{"name":{"$t":"Kaliqo~"},"uri":{"$t":"https://www.blogger.com/profile/16883827855779815366"},"email":{"$t":"noreply@blogger.com"},"gd$image":{"rel":"http://schemas.google.com/g/2005#thumbnail","width":"32","height":"32","src":"//images-blogger-opensocial.googleusercontent.com/gadgets/proxy?url\u003dhttp://1.bp.blogspot.com/_GAU61F_GcXw/Sq5xKvM2cyI/AAAAAAAAALA/SD6S9DAAU3M/S220-s100/allura-logo.jpg\u0026container\u003dblogger\u0026gadget\u003da\u0026rewriteMime\u003dimage/*"}}],"thr$total":{"$t":"0"}},{"id":{"$t":"tag:blogger.com,1999:blog-7964262.post-7528467380432359047"},"published":{"$t":"2023-07-02T19:18:00.000-04:00"},"updated":{"$t":"2023-07-02T19:18:17.602-04:00"},"category":[{"scheme":"http://www.blogger.com/atom/ns#","term":"NXT UK"},{"scheme":"http://www.blogger.com/atom/ns#","term":"WWE"},{"scheme":"http://www.blogger.com/atom/ns#","term":"TKO Group Holdings"},{"scheme":"http://www.blogger.com/atom/ns#","term":"UFC"},{"scheme":"http://www.blogger.com/atom/ns#","term":"Triple H"}],"title":{"type":"text","$t":"Triple H Says UFC Merger Slowed Down NXT Europe Plans"},"content":{"type":"html","$t":"\u003cp\u003eTriple H gave an update on their NXT Europe plans following Money in the Bank on Saturday. WWE announced last year the new brand would be coming in 2023 and speaking at the post-Money in the Bank press conference, Triple H said that the plans have shifted due to Endeavor’s purchase of WWE.\u003c/p\u003e\u003cp\u003e“It’s just slowed down the process I think,” he said (courtesy of Wrestling Inc). “At some point, end of the year, last year, whatever it is, we said in ’23 it would happen. Not having a crystal ball to see where everything was headed in that moment in time, obviously this transition with this merger with UFC with Endeavor and TKO, it’s changed the timeframe. But I think the intent is still the same.”\u003c/p\u003e\u003cp\u003eHe continued, “I mentioned under the premise of WrestleMania and premium live events going global, we’re a global company. We’re looking to be everywhere. And I think … there are a lot of amazing talents here, internationally. And we’d love to explore that and give them opportunities to shine on the biggest stage possible and see what we can do with that. It’s just going to take a little bit of time.”\u003c/p\u003e\u003cdiv class\u003d\"blogger-post-footer\"\u003e\u003cscript expr:src\u003d'\"http://feeds.feedburner.com/~s/Klq?i\u003d\" + data:post.url' type\u003d\"text/javascript\" charset\u003d\"utf-8\"\u003e\u003c/script\u003e\u003c/div\u003e"},"link":[{"rel":"replies","type":"text/html","href":"https://www.klqwrestling.com/2023/07/triple-h-says-ufc-merger-slowed-down.html#comment-form","title":"0 Comments"},{"rel":"edit","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/7528467380432359047"},{"rel":"self","type":"application/atom+xml","href":"https://www.blogger.com/feeds/7964262/posts/default/7528467380432359047"},{"rel":"alternate","type":"text/html","href":"https://www.klqwrestling.com/2023/07/triple-h-says-ufc-merger-slowed-down.html","title":"Triple H Says UFC Merger Slowed Down NXT Europe Plans"}],"author":[{"name":{"$t":"Kaliqo~"},"uri":{"$t":"https://www.blogger.com/profile/16883827855779815366"},"email":{"$t":"noreply@blogger.com"},"gd$image":{"rel":"http://schemas.google.com/g/2005#thumbnail","width":"32","height":"32","src":"//images-blogger-opensocial.googleusercontent.com/gadgets/proxy?url\u003dhttp://1.bp.blogspot.com/_GAU61F_GcXw/Sq5xKvM2cyI/AAAAAAAAALA/SD6S9DAAU3M/S220-s100/allura-logo.jpg\u0026container\u003dblogger\u0026gadget\u003da\u0026rewriteMime\u003dimage/*"}}],"thr$total":{"$t":"0"}}]}});