World Wrestling Entertainment and UFC have merged to create TKO Group Holdings, a publicly listed entertainment conglomerate based in the U.S.
The merger combines two of the most dominant forces in combat sports and entertainment. By integrating professional wrestling and mixed-martial-arts, the company aims to leverage complementary audiences and create cross-platform fan experiences to increase overall market value.
Mark Shapiro serves as the president and chief operating officer of the new entity. The combined company is valued at approximately $21 billion [1]. This valuation reflects the scale of the deal, though some descriptions of the merger have characterized it as a gamble of a different magnitude.
Financial results for the new entity show significant early growth. TKO reported revenue of $1.59 billion [2] for the first quarter of 2026. Both the WWE and UFC brands saw substantial increases in revenue during this period [2].
Shapiro has addressed various criticisms regarding the integration of the two brands. In response to specific detractors, Shapiro said, "We don't buy it."
The deal, which was announced and closed in 2024, allows the company to operate as a single corporate entity on a U.S. stock exchange. The strategy focuses on generating a more valuable entertainment entity by sharing resources, and audience data across the two sports properties.
“The new entertainment giant is valued at about $21 billion.”
The formation of TKO Group Holdings represents a consolidation of the combat sports market, moving the industry toward a corporate model where scripted entertainment and legitimate athletics share a single balance sheet. The Q1 2026 revenue figures suggest that the synergy between WWE and UFC is translating into immediate financial growth, validating the strategy of cross-platform audience expansion.
