A deal of this magnitude takes a long time to finalize, but now there is an official closing date.
Here is the today’s press release with all the details, courtesy of WWE’s corporate web site:
BEVERLY HILLS, Calif. & STAMFORD, Conn. (September 7, 2023) – 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, after which time TKO will begin trading on the New York Stock Exchange under the ticker symbol “TKO”.
The rumor mill recently indicated there is “a sense of doom and gloom among some WWE employees” due to the expectation of post-merger layoffs. The closing date of Sept. 12 is next Tuesday, so we may begin to see what that looks like in short order.
What changes do you anticipate happening in the short-term as a result of the WWE sale to Endeavor, Cagesiders?