Endeavor is bringing together two of the world’s biggest combat-sports franchises — UFC and WWE — in a blockbuster merger announced Monday.

It’s a deal in which “one plus one equals three,” said Endeavor president and COO Mark Shapiro, who will serve in the same role for the merged UFC-wwe. The pact, valuing the combined company at roughly $21.4 billion, is anticipated to close in the second half of 2023.

The deal will result in an estimated $50 million to $100 million in annualized run-rate cost synergies, according to Endeavor, including by moving WWE to Endeavor’s back-office infrastructure. Shapiro said Endeavor, when it acquired UFC,
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