Vince McMahon sat at home for as long as he wanted to before engaging his comeback in WWE. The fact is that he was always the majority shareholder, so he could have forced this at any time, but he decided to wait until 2023 to make his move. Now he is Chairman of the Board once again, and a company sale looks closer than ever. The company might be selling, but they just brought on more help to do so.
WWE dropped a press release today that announced that they are engaging in outside advisors to help “maximize value for all WWE stockholders and other stakeholders.” This is just another piece to the puzzle to help WWE maximize their asking price.
STAMFORD, Conn.–(BUSINESS WIRE)– 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.
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.
WWE has many possible buyers, and Tony Khan happens to be one of them. The UFC owner, Endeavor, also keeps popping up in the conversation. There are many different entities who could be interested, including Disney and Comcast.
Then again, fans can’t escape the idea that Saudi Arabia might buy WWE, changing the entire company as we know it into a privately-owned entity once again. Only time will tell how this situation ends up, but keep checking back with Ringside News for more.
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