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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.

☆ 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.

☆ 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 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.

☆ 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.

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.

☆ 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.

☆ MLB roundup: Kodai Senga shines in debut as Mets down Marlins
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +12 min

[1/2] Apr 2, 2023; Miami, Florida, USA; New York Mets starting pitcher Kodai Senga (34) pitches against the Miami Marlins in the first inning at loanDepot Park. /Rhona Wise-USA TODAY SportsApril 3 - Right-hander Kodai Senga struck out eight batters in his major league debut, leading the New York Mets to a 5-1 win over the host Miami Marlins on Sunday afternoon. Marlins starter Trevor Rogers (0-1) lasted just 4 1/3 innings, allowing four hits, two walks and four runs, three earned. He allowed one run on three hits while walking two and striking out six in his first start of the season. Two of Houck's five hits allowed were home runs by Baltimore's Adam Frazier (3-for-4, two RBIs, two runs) and Cedric Mullins (2-for-5, run, three RBIs).

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.

☆ 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.

☆ 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.

☆ 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.

☆ Saudi money is flowing to US media and entertainment, from Live Nation to LIV Golf, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'
▼ + stars: | 2023-04-03 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +20 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Insider identified some key people connecting Middle East investors with American companies. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Vince McMahon's WWE has a long-term partnership with the Kingdom of Saudi Arabia, with a major live WWE event there slated for May. Vince McMahon's WWE was one of the first US companies to create unique events in Saudi Arabia.

☆ 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.

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.

☆ I volunteered to be laid off from Amazon so I could try being a standup comedian
▼ + stars: | 2023-04-01 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Sarah Whiteman, 26, volunteered to be laid off at Amazon in January as part of its mass job cuts. I joined Amazon Web Services as a recruiter in April 2020, after being laid off from Nordstrom's finance department after the pandemic struck. I absolutely loved working at Amazon, and I moved into different roles before becoming a program manager for a new team handling onboarding across all of Amazon. Even though it was a great role and I loved the team, I volunteered to be laid off as part of Amazon's January 2023 layoffs. So I posted on LinkedIn about how I chose bravery following the layoffs, trying out standup while looking for another role.

☆ Vince McMahon locks in two-year contract as WWE looks for buyers
▼ + stars: | 2023-03-31 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

World Wrestling Entertainment Inc. Chairman Vince McMahon is introduced during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 in Las Vegas, Nevada. Vince McMahon has pinned down a two-year employment contract at World Wrestling Entertainment . The WWE chairman's agreement dates back to Jan. 9, when he returned to the company, according to a securities filing. McMahon returned to WWE's board in January help with the sale negotiations. At the time, his daughter, Stephanie McMahon, had taken over as co-CEO of WWE, a family business for the McMahons.

☆ Vince McMahon Reimburses WWE for Costs Tied to Sexual-Misconduct Probe
▼ + stars: | 2023-03-24 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/vince-mcmahon-reimburses-wwe-for-costs-tied-to-sexual-misconduct-probe-d6b27c05

☆ Ex-WWE chief McMahon pays back $17.4 million in investigation costs
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

March 24 (Reuters) - World Wrestling Entertainment Inc (WWE) (WWE.N) said on Friday Executive Chairman Vincent McMahon had paid $17.4 million to the company to cover costs related to an investigation into his alleged misconduct. McMahon, credited with transforming WWE from a regional player to a global giant, retired as CEO and chairman of the company in July last year. He returned to the board in January, after the probe was wrapped up. McMahon said he would involve himself in the company's media rights acquisition process as it looks to capitalize on growing demand for content and live entertainment. Reporting by Akash Sriram in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Women's NCAA roundup: No. 12 Florida Gulf Coast upsets No. 5 Washington State
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +5 min

5 seed in the first round of the NCAA Tournament, this time handing Pac-12 champs Washington State a 74-63 defeat in Villanova, Pa., on Saturday. Tishara Morehouse chipped in 16 points for the Eagles. The Cougars (23-11) were the Eagles' victims this time, as 16 points and 12 rebounds from Tara Wallack wasn't enough to propel Washington State to its fifth straight win. Here are more results from the first half of Saturday's action in the women's NCAA Tournament. It was the first-ever NCAA Tournament appearance for Saint Louis, which won the Atlantic 10 Tournament.

☆ Saudi money is pouring into Hollywood and media, 5 years after the murder of Jamal Khashoggi. Here's who's cashing in and how.
▼ + stars: | 2023-03-15 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +13 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Even those media players that are comfortable with invetment from the Middle East may not find funds flowing, one Hollywood veteran said. A major live WWE event in Saudi Arabia is slated for May. Of the growing ties between US entertainment and media and Middle East investors, this person added, "Presumably media organizations got into this to help society make better decisions."

☆ WWE in talks with state gambling regulators to legalize betting on scripted match results
▼ + stars: | 2023-03-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

WWE is in talks with state gambling regulators in Colorado and Michigan to legalize betting on high-profile matches, according to people familiar with the matter. WWE executives have cited Oscars betting as a template to convince regulators gambling on scripted matches is safe, the people said. Still, while Academy Awards voting results are known by a select few before they're announced publicly, they aren't scripted by writers. Even if regulators allow gambling, betting companies would have to decide if they're willing to place odds on WWE matches even if it's legalized. Gambling regulators in Michigan and Colorado didn't immediately respond to a request for comment.

☆ Spring training roundup: Mets win Kodai Senga’s debut start
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +6 min

Cardinals catcher Tres Barrera was responsible for the only hit and run Senga allowed, a solo shot to left in the second. Francisco Lindor and Pete Alonso hit solo home runs and Tim Locastro hit a pair of RBI doubles and scored on a throwing error for New York. The Rays got their two runs from solo homers by Jose Siri and Randy Arozarena. Jake Rogers hit his third home run of spring training for the Tigers. The Athletics, who have flirted with a move to Las Vegas, played a two-game spring training series this weekend at Las Vegas Ballpark.

☆ Meet the ex-Goldman banker who relaunched the XFL with The Rock
▼ + stars: | 2023-02-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Dealmaker Gerry Cardinale is betting on it, along with Dwayne "The Rock" Johnson and the star's business partner Dany Garcia. The XFL, previously owned by Vince McMahon, had been forced to cancel its season – its first in 19 years – due to the pandemic. In order to deliver NFL-quality football, the XFL inked an exclusive partnership with the NFL Alumni Academy to find top players. "Dwayne, Dany, and I think we can do that in five." READ THE FULL PROFILE: How Gerry Cardinale became the go-to dealmaker for the Yankees, AC Milan, and Ben Affleck

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