Endeavor COO Mark Shapiro Says He Didn’t Know WWE Deal Was Done Until 4/1, Made Bid Three Weeks Prior
On April 3, WWE announced that they had entered into a transaction agreement with Endeavor to sell the company. The deal would 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.
Speaking to Puck, Endeavor COO Mark Shapiro said, “Until Saturday, I didn’t even know we had this deal.” Endeavor placed its bid to acquire WWE three weeks prior, according to the article.
The article goes on to say that the first target with the merger will be synergies, which could include layoffs and operational efficiencies.
“Anything from H.R. to finance to legal to communications production to distribution and marketing,” Shapiro said. “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.
“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 believes the revenue opportunities are huge with WWE now under the Endeavor banner and the company will look to run the UFC playbook with the deal.
Fans can find Ari Emanuel and Vince McMahon’s comments on the deal by clicking here.
