Benzinga - Shares of UFC parent company Endeavor Group Holdings Inc (NYSE: EDR) are trading lower Tuesday after a video of UFC president Dana White getting into a physical altercation with his wife, Anne White, went viral.
What Happened: A TMZ Sports video of White slapping his wife at a New Year's Eve party in Cabo San Lucas, Mexico went viral over the weekend.
In the video, White appeared to say something to his wife before she reared back and slapped him across the face. White immediately slapped her back.
In a follow-up interview with TMZ, White confirmed the details of the video.
"You've heard me say for years, 'there's never ever an excuse for a guy to put his hands on a woman,' and now here I am on TMZ talking about it," White said.
White explained that he and his wife were both heavily intoxicated, although he noted that drinking is not an excuse for his actions.
White's wife reportedly told TMZ that the slap was completely out of character for the UFC president. The couple reportedly apologized to one another and are asking for privacy for the sake of their children.
Why It Matters: White sold his remaining 10% stake in the UFC to Endeavor Group in 2021. However, he remains president of the UFC, a position he has held for more than 20 years, and the viral video is a black eye for Endeavor, to say the least.
White announced the launch of "Power Slap" in late 2022, a combat sport focused on competitive open-handed striking. The new league is set to air an eight episode series on TBS beginning this month.
Tesla Inc (NASDAQ: NASDAQ:TSLA) CEO Elon Musk previously sat on Endeavor's board of directors before stepping down at the end of June. Musk converted stock options into common shares shortly after leaving the board.
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EDR Price Action: Endeavor Group has a 52-week high of $35.29 and a 52-week low of $17.42.
The stock was down 8.23% at $20.69 at time of publication, according to Benzinga Pro.
Photo: Andrius Petrucenia from Flickr.
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