WWE, UFC to merge into $21bn entertainment company

World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) have announced they will merge to create a $21.4bn sports entertainment giant.

A new publicly traded company will house UFC and WWE brands, with Endeavor Group Holdings Inc (UFC’s owners) taking a 51 percent controlling interest in the new company.

Existing WWE shareholders will get a 49 percent stake.

The deal unites two of the biggest names in wrestling and entertainment and caps a months-long sale process for WWE, overseen by its co-founder and executive chairman Vince McMahon, who returned to the company’s board in January.