What is TKO? Everything you need to know about the new UFC and WWE merger

TKO Group Holdings has been created to mark the beginning of the UFC's partnership with the WWE. The company officially went public on the New York Stock Exchange on Tuesday, with several important figures from both companies on hand for the bell-ringing ceremony.

According to Marc Raimondi of ESPN, Endeavor, which is the parent company of the UFC, will own 51% of the new company, while several key figures, including Dana White, will have new titles. Raimondi wrote:

"Endeavor will own 51% of the new company and WWE shareholders will own 49% of it. TKO has a valuation of $21.4 billion and will serve "more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events," according to a release. TKO will use Endeavor's expertise in "domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth."

"Former WWE controlling shareholder and chairman Vince McMahon will act as executive chairman of TKO, with Nick Khan, who also sits on the board, as WWE president. Dana White, the former UFC president, will now have the title of UFC CEO. Endeavor's Ari Emanuel will be CEO of TKO, and Endeavor's Mark Shapiro is the president and chief operating officer of the new company."

While the companies have merged, there aren't plans to make changes to either product. The two companies, however, could look to hold events in the same city in the future, with the possibility of having tourism authorities pay for both as a package deal.

TKO Group Holdings could create a pipeline from the UFC to WWE

The UFC has seen several big-name stars and former champions compete in the WWE, most notably Ronda Rousey and Brock Lesnar. The recent merger between the two companies could make that route more common for fighters, according to Nick Khan, who stated:

"UFC fighters are going to stay focused on the UFC and WWE superstars obviously do something different in our ring, but you also see in the UFC people with big personalities who, once their UFC run is done, once the UFC and the fighter says, 'Hey, maybe now's the time to call it a day,' could those people have a longer life at WWE, an extended life with TKO? We think so." [h/t ESPN]

While it is unclear which UFC fighters would be interested in competing in the WWE, it could create an avenue for them to continue to make money after retiring from mixed martial arts. Former double champ Conor McGregor was among those who praised the merger, tweeting:

"Truly outstanding! Congrats Ari and Co."

Check out Conor McGregor's tweet below: