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☆ 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.
☆ WWE, Endeavor-owned UFC will merge to create $21 bln entertainment giant
  + stars: | 2023-04-03 | by ( Tiyashi Datta Anirban Sen | Tiyashi Datta | Anirban Sen | ) www.reuters.com   time to read: +2 min
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.
☆ 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.
☆ 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.
☆ 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%.
☆ 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 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.
☆ 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.
☆ 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 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.
☆ 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.
☆ 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.
☆ Endeavor nears deal to buy Vince McMahon's WWE
  + stars: | 2023-04-02 | by ( Milana Vinn Anirban Sen Dawn Chmielewski | Milana Vinn | Anirban Sen | ) www.reuters.com   time to read: +2 min
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.
☆ 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.
☆ WWE CEO Nick Khan say he remains optimistic about plans to introduce betting
  + stars: | 2023-03-30 | 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 EmailWWE CEO Nick Khan say he remains optimistic about plans to introduce bettingWWE CEO Nick Khan joins 'Closing Bell Overtime' to discuss WWE's Wrestlemania weekend, the potential sale of WWE, and the possibility to introduce a betting system for WWE.
☆ 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.
☆ The top 4 sports and sports tech VCs are ready to open their checkbooks. Here's what they're looking for.
  + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +10 min
Courtside Ventures in January closed a $100 million fund, its biggest yet. KB Partners late last year closed a $127 million fund, also its biggest yet. If you're not in one of those lanes, don't bother reaching out, even though the firm has the new $100 million fund to dole out. Parikh expects fewer investments in media companies out of the new fund, but more investments in gaming. It's doling out the money through two accelerator programs and an investment fund.
☆ 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."
☆ Abu Dhabi’s gas IPO displays the merits of caution
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +1 min
Shares of Abu Dhabi National Oil Company’s gas processing spinoff jumped 18% on their IPO debut on Monday, valuing the company at 214 billion dirhams ($58 billion). ADNOC Gas (ADNOCGAS.AD) may be the chunkiest Gulf listing since Saudi Aramco’s (2222.SE) $1.7 trillion equivalent in 2019, but it was more sensibly priced. Aramco’s problem was that Saudi Arabian Crown Prince Mohammed bin Salman had already decreed that it should be worth $2 trillion. ADNOC Gas, by contrast, has a prospective yield of 5.6%, in line with local rivals and more in keeping with Western energy rivals. If anything, ADNOC Gas could be worth even more.
☆ HSBC turns Silicon Valley Bank calamity into gold
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +2 min
LONDON, March 13 (Reuters Breakingviews) - A crisis can be an opportunity for the prepared. That’s what HSBC (HSBA.L) may find with its acquisition of Silicon Valley Bank’s UK arm (SVBUK), announced on Monday morning. The Bank of London, a young clearing bank that also submitted a bid, said on Monday that the HSBC deal was a missed opportunity to promote competition. On that theory, the UK government and Bank of England should have handed SVBUK to a financial-technology startup or a challenger bank, rather than strengthening an established player. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Pfizer’s $43 bln deal is a pricey pipeline fix
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, March 13 (Reuters Breakingviews) - Pfizer (PFE.N) has found a partial, costly replacement for waning sales of Covid-19 vaccines. The $225 billion pharmaceutical giant said Monday it had agreed to shell out $43 billion for oncology specialist Seagen (SGEN.O), inclusive of net debt. Snag is, Pfizer’s return will probably be low, and the deal may not even receive antitrust approval. Add estimated savings of $1 billion and the result is $1.2 billion of operating profit after tax, assuming the statutory corporate rate. That’s about a 3% return on the purchase price, similar to what Breakingviews estimated when news of talks leaked in February.
☆ China central bank punts its succession problem
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +2 min
That may be because Zhu Hexin, his mooted successor, is known mostly for his stint heading state-owned financial conglomerate CITIC – not a household name outside China - has no detectable international experience. In contrast, Yi is a respected known quantity for domestic and international investors alike, comfortable parleying with global institutions like the World Bank and IMF. Beijing might be keeping Yi for the painful parts of the reorganisation – including massive pay cuts – before retiring him. The so-called sea turtles – Chinese people with overseas market experience and foreign language skills – have been migrating out of government for years. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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