WEC has been owned by Zuffa for a while now. They use it as a "minor league" event to grow potential UFC fighters.
Pride also been for a while... Zuffa "said" in a press conference in Japan at the beginning that they would continue activity and then just grabbed the majority of the contracts and dissolved the org.
Here's a thread on WEC
http://www.gfy.com/showthread.php?t=...&highlight=wec