Vince McMahon is back as the Chairman to potentially sell WWE.
During the recent Comcast earnings call, NBCUniversal CEO Jeff Shell was asked about the possibility of acquiring WWE.
The CEO stated
“We are always looking for bolt-on acquisitions that bolster our businesses.
Two examples: we bought DreamWorks (Animation)… and it has been paying off steadily since our acquisition. Just now, with Puss In Boots (The Last Wish), which is a big hit at the box office and really our entrance back into the Shrek universe, continues to make that acquisition look really favorable.
And our Blumhouse investment over time, where we’re partners with Jason Blum, and we have a big hit, M3GAN, this month, which is coming out of that investment.”
WWE Statement On Sale
WWE sent out a major press release regarding the sale of the company. This is what it said.
“STAMFORD, Conn., January 12, 2023 – WWE (NYSE: WWE) today announced that it has retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support WWE’s management team and its Board of Directors in connection with a review of strategic alternatives to maximize value for all WWE stockholders and other stakeholders.
Vince McMahon, WWE’s Founder and Executive Chairman said, “WWE’s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalize on the significant value of our intellectual property. I am highly confident that our outstanding Directors, outside advisors and executive team will provide valuable expertise and counsel to help guide the Company through this important process while our management team and employee base continue to deliver results and content our fans love.”
There can be no assurances given regarding the outcome or timing of the strategic alternatives review process. WWE does not intend to comment further until the process has concluded or the Company has otherwise determined that further disclosure is appropriate or required.
It does seem like the sale continues to move forward. It should be noted that JP Morgan is still part of the process, as reported by other outlets. What will happen? Who will WWE sale to?
Check us out on Facebook.