Endeavor and WWE® Deal to Create TKO Group Holdings Expected to Close September 12
07 Setembro 2023 - 9:00AM
Business Wire
Upon close, TKO will list on New York
Stock Exchange, begin public trading
Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World
Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced
they expect to close the previously announced transaction to form
TKO Group Holdings, Inc. (“TKO”) on September 12, 2023, at which
time TKO will begin trading on the New York Stock Exchange under
the ticker symbol “TKO”.
About Endeavor
Endeavor (NYSE: EDR) is a global sports and entertainment
company, home to many of the world’s most dynamic and engaging
storytellers, brands, live events and experiences. The company is
comprised of industry leaders including entertainment agency WME;
sports, fashion, events and media company IMG; and premier mixed
martial arts organization UFC. The Endeavor network specializes in
talent representation, sports operations & advisory, event
& experiences management, media production & distribution,
experiential marketing and brand licensing.
About UFC®
UFC® is the world’s premier mixed martial arts organization
(MMA), with more than 700 million fans and 228 million social media
followers. The organization produces more than 40 live events
annually in some of the most prestigious arenas around the world,
while broadcasting to over 900 million TV households across more
than 170 countries. UFC’s athlete roster features the world’s best
MMA athletes representing more than 80 countries. The
organization’s digital offerings include UFC FIGHT PASS®, one of
the world’s leading streaming services for combat sports. UFC is
owned by global sports and entertainment company Endeavor, and is
headquartered in Las Vegas, Nevada. For more information, visit
UFC.com and follow UFC at Facebook.com/UFC, Twitter, Snapchat,
Instagram and TikTok: @UFC.
About WWE®
WWE, a publicly traded company (NYSE: WWE), is an integrated
media organization and recognized leader in global entertainment.
The Company consists of a portfolio of businesses that create and
deliver original content 52 weeks a year to a global audience. WWE
is committed to family-friendly entertainment on its television
programming, premium live events, digital media, and publishing
platforms. WWE’s TV-PG programming can be seen in more than 1
billion homes worldwide in 25 languages through world-class
distribution partners including NBCUniversal, FOX Sports, BT Sport,
Sony India and Rogers. The award-winning WWE Network includes all
premium live events, scheduled programming and a massive
video-on-demand library and is currently available in more than 180
countries. In the United States, NBCUniversal’s streaming service,
Peacock, is the exclusive home to WWE Network. Additional
information on WWE can be found at wwe.com and
corporate.wwe.com.
Website Disclosure
Investors and others should note that Endeavor announces
material financial and operational information to its investors
using press releases, SEC filings and public conference calls and
webcasts, as well as its Investor Relations site at
investor.endeavorco.com. Endeavor may also use its website as a
distribution channel of material Company information. In addition,
you may automatically receive email alerts and other information
about Endeavor when you enroll your email address by visiting the
“Investor Email Alerts” option under the Resources tab on
investor.endeavorco.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements generally include statements
regarding the potential transaction between Endeavor and WWE to
launch TKO, including statements regarding the expected timetable
for closing the transaction and the listing of TKO on the New York
Stock Exchange. Statements that do not relate to matters of
historical fact should be considered forward-looking statements,
including, without limitation, the expected closing of the
transaction and post-transaction listing. All statements other than
statements of historical facts contained in this communication may
be forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as “may,” “will,”
“outlook,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “targets,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative
of these terms or other similar expressions. The forward-looking
statements in this communication are only predictions. Endeavor and
WWE management have based these forward-looking statements largely
on their current expectations and projections about future events
and financial trends that management believes may affect its
business, financial condition and results of operations. These
statements are neither promises nor guarantees and involve known
and unknown risks, uncertainties and other important factors that
may cause actual results, performance or achievements to be
materially different from what is expressed or implied by the
forward-looking statements, including, but not limited to: the
transaction will not be consummated; there may be difficulties with
the integration and in realizing the expected benefits of the
transaction; Endeavor and WWE may need to use resources that are
needed in other parts of its business to do so; there may be
liabilities that are not known, probable or estimable at this time;
the transaction may result in the diversion of management’s time
and attention to issues relating to the transaction and
integration; expected synergies and operating efficiencies
attributable to the transaction may not be achieved within its
expected time-frames or at all; there may be significant
transaction costs and integration costs in connection with the
transaction; the possibility that neither WWE nor Endeavor will
have sufficient cash at close to distribute to shareholders (or
that the amount of cash available for distribution will be less
than what the parties expect); unfavorable outcome of legal
proceedings that may be instituted against WWE and Endeavor
following the announcement of the transaction; and risks inherent
to the business may result in additional strategic and operational
risks, which may impact Endeavor’s, TKO’s and WWE’s risk profiles,
which each company may not be able to mitigate effectively. In
addition, a number of important factors could cause Endeavor’s or
TKO’s actual future results and other future circumstances to
differ materially from those expressed in any forward-looking
statements, including but not limited to those important factors
discussed in Part I, Item 1A “Risk Factors” in Endeavor’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2022, as
any such factors may be updated from time to time in the Company’s
other filings with the SEC, including without limitation, the
Company’s Quarterly Report on Form 10-Q for the quarterly period
ended June 30, 2023, and in WWE’s final prospectus on Form
424(b)(3) filed with the SEC on August 22, 2023, as any such
factors may be updated from time to time in its other filings with
the SEC, accessible on the SEC’s website at www.sec.gov, Endeavor’s
investor relations site at investor.endeavorco.com and WWE’s
investor relations site at https://corporate.wwe.com/.
Forward-looking statements speak only as of the date they are made
and, except as may be required under applicable law, neither
Endeavor nor WWE undertakes any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230906574317/en/
Investor Contacts: For Endeavor James Marsh
investor@endeavorco.com
Media Contacts: For Endeavor Brunswick Group
Endeavor@brunswickgroup.com
For WWE (and subsequently for TKO) Seth Zaslow
seth.zaslow@wwecorp.com
For WWE Chris Legentil chris.legentil@wwecorp.com
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