According to reports, WWE and UFC parent Endeavor are close to a deal.

 According to reports, WWE and UFC parent Endeavor are close to a deal.

According to persons familiar with the situation, Ari Emanuel's Endeavor Group, the parent company of UFC, and Vince McMahon's World Wrestling Entertainment are in advanced talks to buy each other.

Monday could see the announcement of a settlement. According to the people, who chose not to be identified owing to the private nature of the conversations, UFC and WWE are anticipated to combine to create a new publicly traded business as part of the agreement.

Following a series of reports that he had over the years paid multiple women millions of dollars to keep quiet about alleged affairs and wrongdoing, McMahon, 77, withdrew from the firm in July. His daughter, Stephanie McMahon, joined Khan as co-CEO. Vince McMahon's creative duties were taken over by Triple H wrestler Paul Levesque, who is also Stephanie McMahon's husband.

Stephanie McMahon left her position as CEO when Vince McMahon returned in January, and Khan took over totally. A securities filing claims that the senior McMahon recently agreed to a two-year work deal.

Khan has been visiting the media in recent weeks to talk about the potential sale. There has been a vigorous sale process, he said on Thursday to Morgan Brennan of CNBC.

The agreement will basically put an end to WWE's longstanding position as a family-run company. The original WWE was formed by McMahon's father in the middle of the 20th century, and McMahon currently has a majority stake in the business. In 1982, McMahon acquired the business from his father. Since then, the business has flourished into a worldwide phenomenon, churning out such mediocre celebrities as Hulk Hogan, Dwayne "The Rock" Johnson, Dave Bautista, and John Cena.

Emanuel is anticipated to serve as the new business's CEO as well as Endeavor's. McMahon is also anticipated to serve as executive chairman, while Mark Shapiro, president of Endeavor, will also hold the same position at the new business. While Nick Khan, CEO of WWE, will lead the wrestling industry, Dana White will continue to lead the UFC.

The news breaks on the same weekend that WWE's biggest live event, WrestleMania, takes place in California. The business has been looking for a buyer for a while. In January, McMahon rejoined the organisation as chairman to direct the procedure. As a result of this year's share price increase of more than 33%, WWE now has a market worth of more than $6.79 billion.