Emanuel, Shapiro talk TKO on first official day

Endeavor CEO Ari Emanuel and President & COO Mark Shapiro today discussed the official merging of WWE and UFC into TKO Group Holdings. Emanuel said there is “nothing more important than sports content and live events,” and the merger will help with “savings as it relates on the production side.” Emanuel noted the “global reach of both is incredible and you can’t underestimate the value of TV rights domestically and internationally and also sponsorship.” Shapiro said free cash flow conversion at TKO will be “around 61%,” and both WWE and UFC will “be a juggernaut in that respect.” In reference to Saudi Arabia getting more involved in the MMA space with its SRJ Sports Investments acquiring a minority stake in PFL, Emanuel said, “We’re ok with competition. We feel good about our position” (“Squawk on the Street,” CNBC, 9/12).

Dana White, Ari Emanuel, Paul "Triple H" Levesque, Nick Khan and Mark Shapiro in N.Y.WWE