Barely 12 hours after reports first emerged that Endeavor, the parent company of the UFC, was to purchase the sports entertainment brand WWE and merge the two companies into one publicly-traded company, the deal has been confirmed via an Endeavor press release. 

Under the terms of the multi-billion dollar agreement, which you can read more about here, the WWE and UFC brands will joined under a single corporate umbrella, though both will remain separate entities from commercial and entertainment aspects. Dana White will remain UFC president, while Nick Khan will hold the same role in the WWE.

Referencing the deal in a press release issued on Monday, Vince McMahon said that the work Endeavor has done since it acquired the UFC for a fee of just over $4 billion in 2016 leads him to believe that the merger is the best viable option for the WWE, which has been rumoured to be available for full or partial investment since earlier this year.

“Given the incredible work that Ari [Emanuel] and Endeavor have done to grow the UFC brand — nearly doubling its revenue over the past seven years — and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” said McMahon.

“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well positioned to maximise the value of our combined media rights, enhance sponsorship monetisation, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands.

“I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level,” he concluded.