The word around WWE was that they were looking for a major streaming partner to buy the rights for WrestleMania. That didn’t come together in time and WWE had to host the show of show on the WWE Network. To make matters even more complicated it look place in the WWE Performance Center as well.
During the 1st quarter 2020 investors call, Vince McMahon revealed his confidence that WWE Network will find a buyer. It is interesting that he said “WWE Network” and not streaming rights as he did before.
“We continue to believe in the viability of alternative strategic options for WWE Network. Our confidence is based on our discussions with multiple potential partners and consideration of broader media industry factors such as the evolution of new streaming services and increasing value of live sports content. As our potential partners have been impacted by COVID-19, these discussions have been extended. Currently, we are unable to estimate when an alternative option will be completed, but still believe the potential for a transformative transactions as possible.”
The COVID-19 pandemic messed up a ton of plans around the world. WWE was obviously planning on something much different right now as was everyone else. It seems that WWE isn’t giving up on the idea that their content could be attractive for a buyer.
The WWE Network touted big WrestleMania numbers. Perhaps another buyer will come along once the coronavirus pandemic settles down so Vince McMahon can get back to negotiating a deal. At this time there is no estimate on how long that will take.
Thanks to Montley Fool for the quote