Endeavor Group to acquire WWE in $9.3 billion deal

The Endeavor Group Holdings Inc. (EDR) logo hangs from the New York Stock Exchange on the morning of its public listing at the NYSE in New York City. Credit: Reuters Photo

Endeavor Group Holdings Inc said on Monday it would acquire entertainment firm World Wrestling Entertainment Inc in a deal valued at $9.3 billion.

Shares of WWE were down 4.5 per cent in trading before the bell, while Endeavor, the parent of the popular UFC mixed martial arts franchise, was up 4 per cent.

Under the agreement, Endeavor shareholders will own 51 per cent of the combined company, while WWE shareholders would get 49 per cent.

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