What is TKO and who owns it?
TKO GROUP Holdings oversees operations including live events, media rights, sponsorships, and licensing deals.
The company welcomed Dwayne “The Rock” Johnson on their board and here is everything you need to know about the company.
What is TKO?
TKO Group Holdings, commonly referred to as TKO, is a sports and entertainment company formed by the merger of WWE and UFC.
The company oversees the operations of WWE and UFC, managing live events, media rights, sponsorships, and licensing deals across both brands.
It started trading on Tuesday September 13, 2023 on the New York Stock Exchange.
Vince McMahon is the executive chairman of TKO and Ari Emanuel is the CEO.
And Mark Shapiro is TKO’s president and chief operating officer.
He said in an interview with CNBC: “Ari Emanuel is running the company.
“Vince will play a role. He’s got experience and influence.
“But he understands the role of CEO is Ari’s.
“This is not a shared position.”
Who owns TKO?
TKO is 51% owned by Endeavor Group Holdings, which owns assets including UFC and Hollywood talent agency WME.
And 49% are owned by WWE shareholders.
What is Dwayne “The Rock” Johnson’s involvement in TKO?
Dwayne “The Rock” Johnson has joined the board of directors of TKO.
Ariel Emanuel, CEO of TKO told Variety: “I am thrilled to partner with Dwayne and welcome his immense talent to TKO’s Board.
“Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for TKO.”
We are proud to have him join the TKO board to help take our company to new heights.
Vince McMahon, executive chairman of the TKO board
WWE also announced that it has entered into a services and merchandising agreement with Johnson, under which he will provide promotional, licensing, and other services to the company.
Additionally, as part of an intellectual assignment agreement, Johnson will acquire ownership of the trademarked name “The Rock.”
He will receive just over £23.4 million ($30 million) in company stock.
The Rock said about his new seat: “My grandfather, High Chief Peter Maivia, and my dad, Rocky ‘Soulman’ Johnson, would’ve never thought this day would come.
“Which is why I’m very humbled to have a seat at the table that has decades of history and family legacy for me.
“A table that my family helped to build.
“Being on the TKO Board of Directors, and taking full ownership of my name, ‘The Rock’, is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle.
“At my core, I’m a builder who builds for and serves the people, and Ari is building something truly game changing.
“’I’m very motivated to help continue to globally expand our TKO, WWE, and UFC businesses as the worldwide leaders in sports and entertainment — while proudly representing so many phenomenal athletes and performers who show up every day putting in the hard work with their own two hands to make their dreams come true and deliver for our audiences.
“I’ve been there, I’m still there and this is for them.”
Vince McMahon, executive chairman of the TKO board, said, “Very few people on the planet understand the convergence of sports, entertainment, media, and business like Rock.
“We are proud to have him join the TKO board to help take our company to new heights.”