Endeavor Group Holdings, parent company of TKO Group Holdings, has officially gone private following a $25 billion acquisition by Silver Lake. This marks the largest private equity public-to-private deal in over a decade and the biggest ever in media and entertainment.

Under the terms, Endeavor stockholders will receive $27.50 per share—representing a 55% premium to the share price prior to the deal’s consideration. The investment group also includes Mubadala Investment Company and DFO Management, LLC.

Despite this transition, TKO Group Holdings—which oversees WWE and UFC—will remain a publicly traded company on the New York Stock Exchange. Endeavor continues to hold a controlling stake, ensuring WWE remains under its strategic oversight.

There are no anticipated operational changes at TKO. Ari Emanuel and Mark Shapiro will remain CEO and COO, maintaining leadership continuity. WWE’s day-to-day operations and long-term strategies are expected to proceed without disruption.

The deal provides Endeavor—and by extension, WWE—with greater financial flexibility outside of public market pressures. This could support future investments in content and global expansion. WWE may also benefit from Silver Lake’s tech-focused portfolio, especially in enhancing its digital and media strategies.

As part of the restructuring, Endeavor’s talent and brand representation units will rebrand under WME Group, reflecting a tighter focus on intellectual property and talent management.

Overall, while Endeavor’s privatization is a major industry move, WWE’s operations remain stable, with strong backing and strategic continuity under TKO’s structure.