As WWE puts a bow on its signature premium live event, WrestleMania, it appears the company is putting a bow on its anticipated sale.
CNBC reported Sunday that the wrestling promotion is talking to UFC parent company Endeavor Group about an acquisition. Details of an agreement could be revealed as soon as Monday.
The network reports Endeavor would take a 51% ownership stake in WWE, with the company shareholders retaining the other 49%. WWE would be under the Endeavor umbrella and join UFC to form a new, publicly traded company.
Even with the sale, Vince McMahon will remain in some form of control. Endeavor Group CEO Ari Emanuel would become CEO of WWE, while McMahon, 77, would be the executive chairman. Current WWE CEO Nick Khan would become president of WWE with the sale.
McMahon retired last summer amid an investigation into misconduct, but he returned in January to effectively oversee the sale of WWE as a publicly-traded company.
