WWE has announced transaction agreement with Endeavor to sell the company, which will see WWE and UFC merge to create a new publicly traded company. The deal is expected to be completed in the second half of 2023. However, Endeavor COO Mark Shapiro stated in a recent interview that he did not even know the company had made a bid to acquire WWE until April 1st.
While speaking to Puck, it was mentioned that the first target of the merger will be synergies, which could include layoffs and operational efficiencies. Shapiro stated that cost synergies will be found across every area, including HR, finance, legal, communications production, distribution, and marketing. He added that the company will integrate and appoint the best and brightest teams.
“Anything from H.R. to finance to legal to communications production to distribution and marketing. Across every area, you’re going to find cost synergies; you’re going to integrate and ultimately highlight and appoint the best and brightest teams.”
WWE is set to begin its next round of media rights negotiations, and its deals for WWE Raw on USA Network and WWE SmackDown on Fox are up in 2024. Shapiro believes that having Endeavor at the table with their relationships and portfolio of assets will be helpful in the process.
“There’s no question that when Nick (Khan) goes in to renew his domestic deals, having us at the table, with our relationships and our portfolio of assets, will be helpful in the process,” said Shapiro.
Shapiro further stated that revenue opportunities are huge with WWE now under the Endeavor banner, and the company will look to run the UFC playbook with the deal. It remains to be seen how this merger will impact the WWE product, including its roster and storylines, but it is clear that major changes are on the horizon.
What are your thoughts on the potential job cuts and operational efficiencies that could result from the merger between WWE and UFC under Endeavor? Leave a comment.