CNBC, the top pro wrestling and mixed martial arts promotions in the world would both be operated under a new joint company led by Endeavor CEO Ari Emanuel.
McMahon, who briefly stepped down from WWE this past July after the Wall Street Journal exposed years worth of hush money payments he made to several women to keep quiet about affairs and sexual misconduct, would serve as executive chairman of the new company.
Endeavor will get 51% of the new company while WWE shareholders would split the remaining 49%.UFC President Dana White would maintain his position in the new company while current WWE CEO Nick Khan would serve as WWE president.
Khan took over as co-CEO alongside McMahon’s daughter, Stephanie, but became the sole CEO after she departed the company upon her father’s return this past January.
Read more on thewrap.com
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