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☆ UFC maintains links with Russian fighters and fighters connected to sanctioned Chechen warlord despite Ukraine invasion
▼ + stars: | 2023-05-17 | by ( Ben Morse | ) edition.cnn.com time to read: +17 min

We have been saying for some time that these sports organizations need to prohibit Kadyrov’s fighters to perform,” he said. There’s also its decision to allow Russian fighters in general to compete in the world’s premium mixed martial arts organization. Some critics have suggested Russian fighters in general should be suspended, like has happened in some other sports, for the country’s involvement in the invasion of Ukraine. Chris Unger/Zuffa LLC/Getty ImagesUFC’s primary focusThere are 20 active Russian fighters currently competing in their organized events, according to the UFC website. CNN approached all 20 of those Russian fighters, only two responded initially and ultimately none of them agreed to an interview.

World Wrestling Entertainment and Endeavor's UFC announced last month they would merge later this year. The new operation will be called TKO Group Holdings, a spokesperson for Endeavor confirmed Tuesday. Emanuel has said he intends to run "the same playbook" with WWE that Endeavor did with UFC, whose revenue surged 20% from 2021 to 2022. UFC and WWE will retain their respective names as part of TKO Group. "This is going to be UFC 2.0," Emanuel said in an interview that aired last month on CNBC's "Squawk on the Street."

☆ Keith Meister’s Corvex Management bets on Amazon, slashes other big tech holdings
▼ + stars: | 2023-05-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Keith Meister's Corvex Management scooped up shares of Amazon during the first quarter, while slashing its stakes in technology giants Alphabet and Microsoft . Meister also bought shares of Endeavor Group , a position worth $44.9 million at the end of the first quarter. Other new bets from Corvex included a $22.7 million position in Uber Technologies and a stake in Algonquin Power . Prior to launching Corvex, Meister worked closely with legendary activist investor Carl Icahn. At the end of the first quarter, Corvex managed about $2.9 billion in regulatory assets, according to securities filings.

☆ Hardcore wrestling fans are torn over the WWE-UFC merger – but they love the drama
▼ + stars: | 2023-05-06 | by ( Natasha Piñon | ) www.cnbc.com time to read: +2 min

For wrestling fans, though, the story's not about those numbers. And wrestling fans aren't afraid to share their opinions. Some are worried that a return to a pay-per-view model for WWE's flagship event, WrestleMania, is on the horizon. The WWE's exclusive streaming deal with Peacock, which includes WrestleMania streaming rights, is set to expire in 2026. In late March, before the UFC deal was announced, WWE CEO Nick Khan said the company keeps fans' price sensitivity in mind.

☆ This Asian MMA promotion wants to crack the US market -- without the blood and trash-talking
▼ + stars: | 2023-05-05 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +6 min

Could 2023 be the year mixed-martial arts (MMA) in the United States finally returns to its pure, humble beginnings nurtured in Asia nearly 5,000 years ago? “I can’t wait for the US fans to be exposed to true martial arts. Fighting on American soil, it’s amazing to be able to headline this landmark event,” said the former longtime UFC champion, who joined One in 2018. Courtesy Aaron Pan/ONE ChampionshipWhat “true martial arts” means in new-era combat sports is certainly up for interpretation. That’s more true to the spirit of martial arts and its traditional values.

May 3 (Reuters) - Goldman Sachs Group Inc (GS.N) has named Kim Posnett as the head of its global technology, media and telecommunications (TMT) investment banking group, according to an internal company memo. Posnett, who is currently the co-head of the One Goldman Sachs initiative at the bank, will continue to hold her existing responsibilities. The One Goldman Sachs initiative aims to integrate the bank's dealings with clients across teams. Posnett, who has also served as the global head of investment banking services at Goldman, is one of the few executives who spoke at the bank's investor day in February alongside its chief executive and finance head. In a separate memo sent out by Goldman's heads of global banking & markets, Ashok Varadhan, Dan Dees and Jim Esposito, Goldman also named Aasem Khalil as the new global head of its Investment Banking Services division.

☆ WWE taps Fanatics to sell merchandise at live events like WrestleMania, SummerSlam
▼ + stars: | 2023-04-18 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

That means Fanatics will now operate all of the on-site retail at the WWE's more than 300 events throughout the year, including its premier live events like WrestleMania and the Royale Rumble. Fanatics became WWE's global e-commerce partner in 2022, a deal that later grew to include licensed merchandise, memorabilia, trading cards and collectibles. WWE has seen its live-event merchandise business grow as the company has returned to a fuller slate of events and shows as the pandemic has waned. In 2022, WWE reported that it had $23.8 million in venue merchandise revenue across 231 live events in 2022, up from $10.1 million the previous year when the company only had 101 live events. Fanatics' existing relationships across sports could also further benefit WWE, Varga said.

☆ WrestleMania apologizes for using footage of Auschwitz in promotional spot
▼ + stars: | 2023-04-07 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —World Wrestling Entertainment apologized Friday after using footage of Auschwitz, the infamous Nazi concentration and extermination camp, in a promotional spot for a hyped father-son match. The promotional video for WrestleMania 39 featured WWE wrestler Dominik Mysterio, who has an ongoing rivalry with his father, Rey Mysterio, and was “arrested” in December for pushing him. The ad then cuts to photos of prisons, one of which was Auschwitz, where Nazis murdered over 1 million people. In later airings and reruns of the first night of WrestleMania, the footage showed an image of barbed wire. In this father-son rivalry, Dominik eventually turned on Rey, culminating in an altercation on Christmas Eve.

☆ WWE apologizes for using Auschwitz footage in pro WrestleMania promo
▼ + stars: | 2023-04-07 | by ( David K. Li | ) www.cnbc.com time to read: +1 min

A view of the former Nazi concentration and extermination camp Auschwitz in Oswiecim, Poland, January 19, 2015. World Wrestling Entertainment inexplicably used footage of infamous Nazi death camp Auschwitz in a recent promotion, prompting the grappling giant to apologize Friday for the offensive gaffe. "We had no knowledge of what was depicted," the WWE said in statement to NBC News on Friday. The Auschwitz footage is now absent from tape of WrestleMania Night 1 and has been replaced with generic images of a jail with barbed wire. The son fought his father in this past weekend's WrestleMania and was beaten soundly by the old man.

☆ Dealmaker Raine Group bucks the M&A blues
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters Breakingviews) - Amid a dealmaking drought, The Raine Group’s rainmakers are creating some flow themselves. And now it has unveiled an acquisition of its own, buying Code Advisors, a technology-focused boutique M&A firm co-founded by former CBS executives Quincy Smith and Michael Marquez. It is the first purchase for Raine since it was co-founded by a group including Joe Ravitch and Brandon Gardner in 2009 in the aftermath of the last big downturn. Since then, Raine has ballooned to 170 people with about 20 partners advising on transactions such as last year’s 4.25 billion pound ($5.3 billion) sale of Chelsea Football Club. 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.

☆ 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%.

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.

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.

☆ 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%.

☆ 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.

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.

☆ 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.

☆ 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 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.

☆ 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.

☆ 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.

☆ 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.

☆ 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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