WWE and UFC formed TKO Group

Endeavor Group Holdings and World Wrestling Entertainment (WWE) have entered into an agreement to form a new company. The publicly traded company, whose shares will be traded on the New York Stock Exchange, will consist of the Ultimate Fighting Championship (UFC) and WWE global sports entertainment brands.

Leverage expertise

TKO Group will be the name of the newly formed company, in which Endeavor will own 51% and existing WWE shareholders 49%.  

This merger will allow TKO to leverage Endeavor's expertise in areas such as domestic and international media rights, ticket sales and revenue optimization, event operations, global partnerships, licensing and premium hospitality to drive revenue growth.

Its stock symbol, TKO, is also a reference to the short version of the term "technical knockout" used in combat sports.

Source: www.hollywoodreporter.com