TKO put scripted wrestling and real cage fighting under one company
One stages choreographed storylines; the other began as a nearly rule-free contest to find the most effective martial art. In September 2023 WWE and the UFC merged into TKO Group Holdings, and for the first time in over 70 years the McMahon family no longer controlled professional wrestling's biggest promotion.
WWE traces back to the Capitol Wrestling Corporation, founded in 1953 and run by Vincent J. McMahon. His son Vince and daughter-in-law Linda bought it in 1982 and tore up the old system of regional territories, touring and televising shows worldwide. Hulk Hogan's title win at Madison Square Garden in January 1984 fuelled a boom, and WrestleMania, first held on March 31, 1985, became the flagship event and a pay-per-view pioneer. A legal dispute with the World Wildlife Fund forced the switch from WWF to WWE in 2002.
The UFC started in Denver on November 12, 1993, pitting fighters from different disciplines against each other without weight classes. As rules tightened, competitors borrowed techniques across styles, and modern mixed martial arts emerged. The Fertitta brothers' company Zuffa bought it in 2001 and swallowed rivals such as Pride and Strikeforce. In 2016 a group led by the talent agency that became Endeavor paid $4.025 billion for Zuffa.
Endeavor's chief, Ari Emanuel, then turned to WWE, which had put itself up for sale in early 2023. The merged company listed on the New York Stock Exchange on September 12, 2023, with Endeavor holding 51% and WWE shareholders 49%, valuing WWE at $9.3 billion. Emanuel became chief executive, while Dana White and Nick Khan kept running the UFC and WWE. Vince McMahon became executive chairman but resigned in January 2024, a day after a former employee filed a lawsuit accusing him of sexual misconduct and trafficking.
By 2023 the two brands each earned about $1.4 billion a year, Forbes ranking them the most valuable combat sports organisations. TKO has since absorbed Professional Bull Riders, the hospitality firm On Location and parts of IMG, and is launching a boxing promotion.
Source: TKO Group Holdings
