UFC-WWE Merger Being Challenged By Lawsuit

The UFC and WWE merger to form TKO Group Holdings, Inc, has been challenged by a group of shareholders.

According to reports, a court filing was made in Delaware on November 17th, 2023, which claimed that some former WWE shareholders issued a lawsuit against Vince McMahon and other executives from the WWE. The plaintiffs, who are represented by the Laborers’ District Council and Contractors’ Pension Fund of Ohio, accused McMahon of using ‘his domineering personality and control over WWE to carry out his own personal agenda at the expense of the Company’s public stockholders,’ in order to push through a sale to Ari Emanuel (Endeavor’s CEO).

It is claimed that McMahon and six other directors from the WWE board had done the deal to ‘favor Endeavor and exclude other bidders seeking [to] axe McMahon.’ Following McMahon’s removal as WWE’s CEO and President after an investigation into sexual abuse and harassment allegations, it is alleged that he appointed new members to the board upon his return to assert his influence.

This was reportedly done with the aim of selling the company amid discontent from other stockholders. But in doing so, the lawsuit claimed that there were numerous offers that were higher than what Endeavor had submitted. And yet, those offers would have ended McMahon’s role in the company, unlike the Endeavor takeover, where he became the executive chairman of TKO Group Holdings. TKO Group Holdings has yet to respond to these allegations, but the social media response has been clear.

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