It was reported in April that WWE has been acquired by the Endeavor Group, and the billion-dollar wrestling company will now be merged with the UFC to form a new publicly traded entity that will trade under the symbol TKO with a market valuation of $21 billion.
During a recent appearance on the SI Media Podcast, “Stone Cold” Steve Austin stated that the WWE-Endeavor deal is one that makes sense from a business standpoint and the sale didn’t shock him one bit. He said,
“I wasn’t shocked at all. It had been in the grapevine, and it happened, and it kind of made sense. UFC did it, so why not WWE?”
“Triple H went out and cut that promo saying they’re not going anywhere, meaning the people that are running WWE. I think it needs to come from a wrestling-minded family type thing, or those key players. That’s a tricky business. Not everybody with a television background walks into the wrestling industry or the sports industry and can produce great results. So you keep the people running it that do because they know their fanbase as well as anybody.”
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