Endeavor and W.W.E. Said to Be Close to Deal Combining Fighting Leagues

CNBC earlier reported that Endeavor was in talks to acquire W.W.E.

Hollywood talent agencies have forged several mergers recently. Last year, Creative Artists Agency acquired ICM Partners, a rival agency, and United Talent Agency acquired Curtis Brown Group, a talent agency based in London.

The deal comes as demand for live events — one of the last linchpins of the cable TV bundle — has reached a high. TV programmers, eager to hold onto their highly profitable traditional businesses, are paying billions of dollars to acquire sports rights. Streaming services like YouTube TV are also paying top dollar for the rights to marquee sporting events, including N.F.L. games, to attract new viewers, creating a competitive bidding war.

The W.W.E. currently streams WrestleMania, one of its signature events, on Peacock, the streaming service owned by Comcast. The U.F.C. streams its matches on ESPN+, the streaming service operated by Disney’s sports division. Both companies also present their matches on traditional TV, with U.F.C. fights available on a pay-per-view basis and W.W.E. programming available on the Fox broadcasting network and NBCUniversal’s U.S.A. channel.

A deal with Endeavor would come at an opportune time for W.W.E., which has valuable programming deals expiring soon.

As might be expected for the theatrical W.W.E., news of the potential deal broke at a time of peak spectacle. The company is holding its WrestleMania event at SoFi Stadium in Los Angeles this weekend, drawing long-running wrestling stars, including John Cena and Rey Mysterio.

Article source: https://www.nytimes.com/2023/04/02/business/media/endeavor-wwe-vince-mcmahon-ari-emanuel.html