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☆ TechCheck Weekly #5: Sports Rights Sleeper Hold
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTechCheck Weekly #5: Sports Rights Sleeper HoldAri Emanuel & Vince McMahon. Apple & Major League Soccer? A whole lot of investors, owners, CEOs and companies are betting that the value of televised sports is going up. It's in limited supply. What Endeavor's deal to pull WWE & UFC together tells us about media valuations and where things are headed for the tech companies trying to get involved.

☆ WWE and UFC merger mania is quite the production: podcast
▼ + stars: | 2023-04-06 | by ( Jennifer Saba | ) www.reuters.com time to read: 1 min

NEW YORK, April 6 (Reuters Breakingviews) - The wrestling heavyweight has agreed to merge with Endeavor’s mixed martial arts franchise in a $21 bln deal. In this Viewsroom episode, Breakingviews columnists discuss why the transaction makes sense strategically, but the financial logic is contorted. Listen to the podcastFollow @jennifersaba on TwitterSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ The UFC-WWE deal could be the boost the M&A market needs to get back into gear
▼ + stars: | 2023-04-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Citigroup, JPMorgan, Wells Fargo, and Bank of America were among the banks advising on the deal. Earlier this year, some pegged the merger market getting back into the swing of things by mid-year. When you think about it, the WWE-UFC deal might be the best way to get the market going again. Fight for media rights: Both UFC and WWE have streaming deals with ESPN and NBCUniversal's Peacock, respectively. The crypto community is now pitching itself as playing a key role in AI development thanks to its decentralized nature.

☆ Here are Tuesday's biggest analyst calls: Apple, Amazon, Boeing, Chipotle, Rivian, Etsy, Exxon & more
▼ + stars: | 2023-04-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Piper Sandler reiterates Apple as overweight Piper said iPhone share remains at near record levels for Apple. Bank of America reiterates Endeavor as buy Bank of America said it's bullish on Endeavor's plan to merge WWE and UFC. Piper Sandler upgrades Etsy to overweight from neutral Piper said it sees "continued share gains" for the e-commerce company. Deutsche Bank reiterates Citizens Financial and PNC as buy Deutsche said it's cautious on bank stocks overall, but that it likes Citizens and PNC as top picks. Bank of America reiterates Analog Devices as buy Bank of America said Analog Devices has "best-in-class" free-cash flow returns.

☆ WWE to Combine With UFC Parent Endeavor
▼ + stars: | 2023-04-03 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

The deal to combine the companies is expected to close in the second half of 2023. World Wrestling Entertainment Inc. has reached a deal to combine with Endeavor Group Holdings Inc., the owner of the Ultimate Fighting Championship. The two companies said Monday that Endeavor will hold a 51% controlling interest in their newly formed, publicly traded entity, with WWE owning the remaining 49%.

☆ WWE Nears Sale to UFC’s Endeavor Group
▼ + stars: | 2023-04-03 | by ( Lauren Thomas | Joe Flint | ) www.wsj.com time to read: 1 min

The deal is expected to be announced Monday. World Wrestling Entertainment Inc. is nearing a deal to be sold to Endeavor Group Holdings Inc., which owns the Ultimate Fighting Championship, according to people familiar with the matter. As part of the deal, Endeavor’s UFC business and WWE will form a separate publicly traded entity, the people said, in which Endeavor shareholders would hold 51% and WWE shareholders would retain 49%.

Talent agency Endeavor (EDR.N), which owns the mixed martial arts business, will tag-team with Vince McMahon’s WWE in deal valued at some $21 billion. The merger unveiled on Monday creates a new publicly traded company 51% owned by Endeavor and 49% by WWE shareholders. On paper, the WWE enterprise gets the sweeter valuation, at around 24 times last year’s EBITDA, whereas UFC is pegged at 19 times. Instead, in the grand tradition of wrestling, McMahon and Endeavor boss Ari Emanuel are trying to appeal to shareholders with a more unconventional thriller. Under terms of the deal, WWE is being valued on the basis of $106 per share, implying an enterprise valuation of $9.3 billion, according to the companies.

☆ Investors have been valuing Endeavor too inexpensively, says Lightshed Partner's Ross
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors have been valuing Endeavor too inexpensively, says Lightshed Partner's RossBrandon Ross, Lightshed Partners partner, and media and technology analyst, joins 'Squawk Box' to discuss Ross' first reactions to the WWE and UFC deal, what UFC parent company Endeavor becomes long-term and more.

☆ WWE is combining with Endeavor Group's UFC to form a new company
▼ + stars: | 2023-04-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —World Wrestling Entertainment is merging with Endeavor Group, the parent company of competitor UFC, to form a new publicly traded company. The deal values the newly combined company at over $21 billion: UFC is worth $12.1 billion and WWE is valued at $9.3 billion. Endeavor shareholders will own 51% of the newly combined company, while WWE shareholders are getting 49%. Vince McMahon will retain his current WWE title of executive chairman at the new company, which doesn’t yet have name. Endeavor, which also owns Hollywood’s biggest talent agency William Morris Endeavor, became the outright owner of the UFC in 2021.

☆ 9 Middle Eastern funds and investors pouring money into US media, sports, and entertainment
▼ + stars: | 2023-04-03 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +9 min

Governments and investors in the Middle East are pouring money into Western media and entertainment. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they're finding plenty of takers. The channels for money from Saudi Arabia and other parts of the Middle East are complex. Insider broke down the key entities — their owners, leaders, and high-profile investments and joint ventures — in the top three Middle Eastern nations pouring money into US entertainment and media. It describes itself as the largest media company in the Middle East and North Africa and runs one of the largest TV news channels, Al Arabiya.

☆ Jim Cramer's top 10 things to watch in the stock market Monday: OPEC+ surprise, Macy's lift, Tesla miss
▼ + stars: | 2023-04-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

How are we approaching the market week ahead? I also explained that we are indeed in a bull market, but that things could get a bit rocky from here. Analyst Matthew Boss also increased his price target by a buck to $29, citing favorable risk-to-reward setup at current stock price. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Stocks making the biggest moves premarket: Marathon Oil, Macy's, WWE and more
▼ + stars: | 2023-04-03 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

A road is closed after an oil leak at Marathon Galveston Bay Refinery on October 6, 2021 in Texas City, Texas. Energy stocks — Energy stocks rose broadly Monday after OPEC surprised the market by announcing a production cut. Marathon Oil rose more than 7%, while Halliburton , APA and Occidental Petroleum each gained more than 6%. Extra Space Storage , Life Storage — Extra Space Storage said it would acquire Life Storage in an all-stock transaction for $145.82 per share, an 11.2% premium to where the stock closed Friday. Extra Space shares dropped 4.9% following the announcement; Life Storage shares climbed about 1.7%.

☆ UFC merger beefs up WWE's leverage in media rights negotiations
▼ + stars: | 2023-04-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Networks and streaming services need to get ready for a media rights smackdown. UFC should also benefit ahead of 2025, when its U.S. media rights deals come up, including with Disney's ESPN. "I think everything is up for grabs with these media rights deals. During his time with CAA, he had formed a relationship with McMahon during a recent round of TV rights negotiations for WWE. It will also work for UFC negotiations, he noted.

☆ WWE in talks to sell to UFC parent Endeavor
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWWE in talks to sell to UFC parent EndeavorWorld Wrestling Entertainment is in advanced talks to be sold to Endeavor Group, the parent of UFC. CNBC's Alex Sherman has the details.

☆ WWE sells itself to UFC
▼ + stars: | 2023-04-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

The deal values the newly combined company at over $21 billion: UFC is worth $12.1 billion and WWE is valued at $9.3 billion. Endeavor shareholders will own 51% of the newly combined company, while WWE shareholders are getting 49%. Endeavor, which also owns Hollywood’s biggest talent agency William Morris Endeavor, became the outright owner of the UFC in 2021. Following his departure, WWE disclosed multiple expenses that Vince McMahon hadn’t previously reported, totaling $19.6 million. The WWE made more than $1.29 billion in revenue in 2022 and its shares up more than 30% for the year.

☆ Stocks making the biggest moves midday: Tesla, Marathon Oil, WWE, UnitedHealth and more
▼ + stars: | 2023-04-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

UnitedHealth — Shares of the health insurance giant gained about 4% after the Center for Medicare & Medicaid Services on Friday announced updated payment rates. The Wall Street firm said Marqueta is facing a "multitude of headwinds" without an ironed-out renewal deal with Block. Extra Space Storage , Life Storage — Shares of Extra Space Storage fell 5% after the company said it would acquire Life Storage in an all-stock transaction for $145.82 per share, an 11.2% premium to where Life Storage closed Friday. Shares of Life Storage shares rose 3%. Ovintiv – The oil and natural gas exploration and production company saw shares jump 10% after announcing it will acquire certain Midland Basin assets from EnCap Investments for about $4.3 billion.

April 3 (Reuters) - World Wrestling Entertainment Inc (WWE.N) will combine with Endeavor Group-owned (EDR.N) mixed martial arts franchise UFC to form a new, publicly listed entertainment giant valued at about $21 billion, the companies said on Monday. Hollywood power broker and Endeavor CEO Ari Emanuel will take the helm at the merged entity. In January, WWE said it would explore strategic options that could include a sale, shortly after long-time CEO McMahon's return to the company. McMahon had retired in July last year as the company's CEO and chair, following an investigation into his alleged misconduct. Co-CEO Stephanie McMahon, who single-handedly managed the mantle when her father exited, resigned a week after he returned in January.

☆ Endeavor to merge UFC with WWE in $21 billion deal
▼ + stars: | 2023-04-03 | by ( Becky Quick | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEndeavor to merge UFC with WWE in $21 billion dealCNBC's Becky Quick reports on news from the wrestling entertainment space.

☆ Endeavor-UFC deal is the next evolution of WWE, says Vince McMahon
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEndeavor-UFC deal is the next evolution of WWE, says Vince McMahonVince McMahon, WWE co-founder and executive chairman, and Ari Emanuel, CEO of Endeavor, join 'Halftime' to discuss the latest merger between WWE and Endeavor.

☆ Disney needs to sell Hulu for long-term growth, says SPG's Simon Gallagher
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney needs to sell Hulu for long-term growth, says SPG's Simon GallagherSimon Gallagher, SPG Global principal, joins 'Closing Bell: Overtime' to discuss Disney's potential next moves and the UFC merging with WWE.

☆ Endeavor to merge with WWE for a $21 billion dollar deal
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEndeavor to merge with WWE for a $21 billion dollar dealVince McMahon's World Wrestling Entertainment has agreed to merge with UFC to form a new publicly traded company controlled by Endeavor Group , the companies announced Monday morning.

☆ Watch Scott Wapner's full interview with Endeavor CEO Ari Emanuel and WWE's Vince McMahon
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Scott Wapner's full interview with Endeavor CEO Ari Emanuel and WWE's Vince McMahonEndeavor CEO Ari Emanuel and WWE Executive Chairman Vince McMahon joined CNBC's Scott Wapner for an exclusive interview on the deal between UFC and WWE.

Shares of WWE fell in premarket trading, while Endeavor shares rose. Ari Emanuel will act as chief executive of both Endeavor and the new company, the companies said. McMahon, likewise, will be executive chairman, while Endeavor President and COO Mark Shapiro will also work in the same roles at the new company. Dana White will remain as president of UFC, and WWE CEO Nick Khan will stay on as president of the wrestling business. Stefanie Keenan | Getty Images Entertainment | Getty ImagesThe announcement confirmed an earlier CNBC report.

Endeavor and WWE did not immediately respond to requests for comment on Sunday. The deal could be announced as early as this week, the sources said. Endeavor shareholders will own 51% of the combined company, while WWE shareholders would get 49%, the sources said. Endeavor is led by Hollywood power broker Ari Emanuel, who earlier this month declined to answer questions about a possible deal. In January, WWE said it would explore strategic options that could include a sale, shortly after Vince McMahon's return to the company.

☆ WWE near deal to be sold to UFC parent Endeavor, sources say
▼ + stars: | 2023-04-02 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Vince McMahon's World Wrestling Entertainment is in advanced talks to be sold to Ari Emanuel's Endeavor Group , the parent company of UFC, according to people familiar with the matter. McMahon, likewise, is expected to be executive chairman, while Endeavor President Mark Shapiro will also work in the same role at the new company. Dana White will remain as president of UFC, while WWE CEO Nick Khan will serve as president of the wrestling business. Paul Levesque, who's both Stephanie McMahon's husband and the wrestler known as Triple H, took over creative duties from Vince McMahon. When Vince McMahon came back in January, Stephanie McMahon stepped down and Khan fully assumed the CEO role.

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