The UFC and WWE have merged to form a new company called TKO Group Holdings
The new company is publicly traded on the New York Stock Exchange (NYSE) and is valued at $21.4 billion
Endeavor, the parent company of UFC, will own 51% of TKO Group Holdings, while WWE shareholders will own the remaining 49%
Vince McMahon, the former CEO of WWE, will remain on as Executive Chair of TKO Group Holdings
Dana White, the former president of UFC, will now serve as the CEO of UFC under TKO
Nick Khan, the current CEO of WWE, will serve as the president of WWE in a role similar to White's former role
This merger marks the first time that the McMahon family has not owned controlling interest in the WWE since it was founded in 1953
The NYSE currently values TKO Group Holdings at $102 per share.
The merger is expected to create synergies and cost savings for the two companies
It is also expected to help the two companies expand their reach and grow their audiences