The era of Vince McMahon's majority ownership in WWE is officially over, as Endeavor has finalized their multi-billion dollar acquisition of the wrestling giant. As a result, WWE has joined forces with UFC under the TKO Group umbrella, which debuted on the New York Stock Exchange on September 12th.
Ahead of the acquisition's closure, rumors circulated that WWE employees could face job losses, causing staff members to be notably anxious.
What was Nick Khan's message to WWE staff? Having transitioned from CEO to WWE President, Nick Khan communicated with WWE employees through an email dispatched on the morning the deal was sealed. The message reads:
“This morning, we announced that WWE and the UFC have officially come together to form TKO Group Holdings, creating a new premium sports and entertainment company. TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO.”
A big thank you to all of you for the hard work and commitment that helped us achieve this milestone.
As we now begin this transition, we will be in touch with more details. In the interim, we will be communicating with each of you regarding new policies and procedures. HR will also be available to answer any and all questions you may have.
We know when companies undergo change it can feel like uncertain times. The special culture that WWE has cultivated over its long history is what has allowed our business to flourish and we will be preserving that as WWE and UFC both continue to grow together as part of TKO.
As always, well continue to focus on the work throughout this transition and make sure to communicate with all of you throughout the process. Thank you, Nick Khan.”
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