The Facts
Endeavor Group, owner of the Ultimate Fighting Championship (UFC), announced Monday it will merge with World Wrestling Entertainment Inc. (WWE), ending a months-long process headed by WWE co-founder and executive chairman Vince McMahon.
McMahon will remain executive chairman of the new company, but Endeavor will own 51% of the business, meaning for the first time since the organization’s founding in 1953, the McMahon family will not control WWE.
The Spin
Narrative A
This deal is a win-win and marks a triumphant return by McMahon, who rescued WWE from slightly rocky ground and made it part of the most significant sports-entertainment organization in the world. There’s no telling how far the WWE-Endeavor partnership may go.
Narrative B
While the outcome of this merger remains to be seen, it's likely a poor decision: It opens the door to WWE changing drastically from its origins, offering fans a watered-down version of its product that reflects the new company behind it, rather than its authentic purpose. To its fanbase, this simply won't feel right.