As we’ve noted, Tuesday was a historic day for WWE as Endeavor’s WWE – UFC merger to form TKO Group Holdings was officially completed. You can find several related stories at the bottom of this post.
The new TKO stock closed at $103.05 per share on its first official day of trading on the New York Stock Exchange, after launching at $102.00 per share. The closing price was up 2.38% from WWE’s previous close of $100.65. At one point in after-hours trading, the TKO stock was at $103.94 per share. TKO is waking up to good news today as the stock is at $106.95 per share in pre-market trading as of this writing. This is up 3.78% from Tuesday’s closing price. As noted, WWE stock closed for the final time on Monday at $100.65, after launching at $17 per share on October 19, 1999.
On a related note, TKO issued the following this morning:
TKO Announces Special Cash Dividend
NEW YORK–(BUSINESS WIRE)–TKO Group Holdings, Inc. (NYSE: TKO) (“TKO” or the “Company”), a premium sports and entertainment company, today announced that it has declared a special cash dividend pursuant to the terms of the transaction agreement between UFC and WWE, which provides for a special one-time dividend on TKO’s shares of Class A common stock, funded by an intracompany cash distribution to TKO prior to the consummation of the transaction. The dividend to TKO’s Class A common stockholders will be $3.86 per share, payable on September 29, 2023 to TKO’s Class A common stockholders of record as of September 22, 2023.
Future declarations of dividends are subject to the determination and discretion of TKO’s board of directors based on its consideration of various factors, such as its results of operations, financial condition, market conditions, earnings, cash flow requirements, restrictions in its debt agreements, legal requirements and other factors that TKO’s board of directors deems relevant.
There was a lot of speculation on WWE Chief Content Officer Triple H going into the merger, but he was front & center throughout the day on Tuesday. While The Game is not on the Board of Directors for the new company, ESPN’s Marc Raimondi reports that he will continue working as the head of WWE creative. It should be business as usual for the most part as no major changes are planned for the WWE and UFC products.
Triple H reflected on the day and what it means for the industry, adding that this is the most exciting time he’s ever been a part of. “A historic day. The most exciting time in our industry that I’ve ever been a part of. …Are you ready? @TKOGrp @ufc,” he wrote.
Triple H also spoke in a NYSE video seen below and said this was an amazing day and he could not be more excited. He recalled being at the NYSE on October 19, 1999, when WWE went public, and said while this is bigger and things have changed, the excitement level was the same. Triple H also declared that the sky is the limit for TKO, and he knows this is going to blow up.
John Cena also weighed-in, writing, “Another historic moment in the evolution of the sports-entertainment industry. Congratulations to everyone involved in today’s massive announcement. @Endeavor @WWE @UFC”
For those who missed it earlier, WWE brought Bianca Belair and Montez Ford to the ringing of the New York Stock Exchange Opening Bell and photo-ops on Tuesday, while UFC Hall of Famer Daniel Cormier was also brought in for the ceremony and photos/videos outfront, which you can see more of below. As noted, others representing TKO at the NYSE yesterday included Triple H, TKO Executive Chairman Vince McMahon, Endeavor/TKO CEO Ari Emanuel, WWE President Nick Khan, UFC CEO Dana White, WWE Executive Producer & Chief of Global Television Distribution Kevin Dunn,, and Endeavor/TKO President & COO Mark Shapiro. You can see more photos and video below, along with links to previous reports.
FULL COVERAGE OF ENDEAVOR MERGING WWE AND UFC TO CREATE TKO GROUP HOLDINGS:
– TKO’s Longterm Plans for WWE and UFC, Products to Change?, UFC’s Interest In WWE, More
– Triple H and Others Receive Significant Bonus Pay Following WWE – UFC Merger
– Nick Khan on CM Punk Possibly Returning to WWE
– Dana White on Partnering with WWE, If His Daily Work Will Change with Merger
– Mood at WWE HQ Today, TKO Stock Update, Video of TKO Officials at the NYSE, New TKO Website, More
– Nick Khan’s Internal Memo to WWE Employees on TKO Launch Revealed
– Nick Khan Talks WWE TV Deals, UFC Executive on Endeavor’s Role In the Negotiations
– Big WWE – UFC Display at the New York Stock Exchange, Final WWE Stock Price
– Official Announcement on WWE and UFC Becoming TKO Under Endeavor, Vince McMahon Comments
Stay tuned to WrestlingHeadlines.com for more.
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