Wrestling giant WWE secures martial arts collaboration with UFC

WORLD Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) are teaming up in a multi-billion dollar collaboration.

Vince McMahon, CEO and controlling shareholder of pro-wrestling advertising company WWE, has struck a deal with Endeavor Group, owner of mixed martial arts organization UFC, to combine the two brands.

The newly merged company will be spun off into a publicly traded company valued at over £17 billion.

Fit for the fight: Vince McMahon, head of pro wrestling company WWE, has struck a deal with Endeavor Group, owners of mixed martial arts organization UFC, to combine the two brands

Beverly Hills-based Endeavor will own 51 percent of the new business, while WWE investors will control the remaining 49 percent. The deal values ​​the latter at £7.5bn. Endeavor boss Ari Emanuel will become chief executive of the conglomerate, while McMahon will serve as executive chairman.

The deal marks a stunning comeback for McMahon, 77, who was forced out last July amid allegations of sexual misconduct and hush money payments.

He was succeeded by his daughter Stephanie.

But in January, he clawed his way back to the board in a coup that led to Stephanie’s resignation.