The news follows a two-day Wrestlemania event.
Emanuel will now be chief executive of both Endeavor and a new, publicly traded company that will run both WWE and UFC. WWE's executive chairman Vince McMahon will stay on in that role, sharing duties with Mark Shapiro.
Nick Khan will stay as CEO of WWE and president of wrestling operations, with Dana White remaining as president of UFC., Emanuel said:"This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed. "For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
McMahon added:"Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders."
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