In an update on Endeavor agreeing to acquire WWE and merge the company with UFC to form a new sports and entertainment company moving forward, an Endeavor spokesperson confirmed to CNBC’s Alex Sherman and Mike Calia that the new company will be called TKO Group Holdings.

While the deal has not been formally finalized, the plan is for the company to trade under the New York Stock Exchange as “TKO”, with the merger valueing the merged company at $20 billion. Endeavor’s CEO Ari Emanuel will serve as the CEO of the TKO Group Holdings company, with Vince McMahon to serve as Executive Chairman.