The world of sports entertainment just got a major shakeup. On Monday, it was announced that WWE had been sold for a whopping $30 billion to create a sports giant. This deal marks the largest transaction in the history of the sports entertainment industry and will have far-reaching implications for the future of the business.
The new company, which will be called WWE Global Entertainment, will be a joint venture between WWE and Endeavor, a global entertainment, sports and content company. The deal will give Endeavor a majority stake in the company, with WWE retaining a minority stake.
The new company will be led by WWE Chairman and CEO Vince McMahon, who will remain in his current role. Endeavor CEO Ari Emanuel will serve as the company’s executive chairman.
The deal is expected to create a global powerhouse in the sports entertainment industry, with the potential to expand into other areas such as live events, digital media, and film and television production. It also gives WWE access to Endeavor’s vast network of talent, which includes athletes, entertainers, and other content creators.
The $30 billion deal is a major milestone for the sports entertainment industry and will likely have a lasting impact on the business. With the new company in place, WWE will be able to expand its reach and create even more opportunities for its fans and talent.
