Let the bidding begin. According to a report from CNBC, WWE has hired JPMorgan to begin the process of selling the company. This is being reported following the news that Vince McMahon returned to the company yesterday.
The report states that if a deal occurs, it would likely occur in the next three to six months. In addition, WWE plans to talk to potential buyers before it makes a decision on TV rights renewal agreements.
McMahon had the following to stay in a statement: “My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”
His return doesn’t affect current leadership as Stephanie, and former CAA agent Nick Khan are co-CEOs. However, it remains unclear what type of role, if any, Vince would want at WWE if he sold the company. WWE has told investors that his role is essential in “our ability to create popular characters and creative storylines.” Currently, Vince doesn’t have a formal say in the company’s creative direction.
This is getting more and more real. I’m not sure who would want to buy the company at this point, but it seems to me that NBC would be the most logical choice as the WWE Netwerk streams primarily on Peacock. We will see how this goes, but there could be some big news happening for a lot of people this year.
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