WWE is reportedly working with JPMorgan on sales opportunities

The past few days have been a bit turbulent for WWE fans, as Vince McMahon not only returned to the company, but stated that his return was to help make the most of media rights deals and a potential sale of the company. Reports have stated that McMahon and WWE would review the possibilities of a sale before closing any media rights deals, and a new report from CNBC states that WWE hired JPMorgan to help advise on a potential sale according to people familiar with the matter. JPMorgan declined to comment and a WWE spokesperson was not immediately available for comment.

The report goes on to say that if a deal does come about, it will likely happen sometime between the next three and six months, according to people who asked not to be named due to the privacy of those discussions. In his press release, McMahon said he sees his return and facilitating these discussions as an advantage to a possible deal, as the other side would know they have the backing of the controlling shareholder. You can find McMahon’s release below.

“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for high-quality content and live events and with more companies seeking to own the intellectual property on their platforms,” said Mr. McMahon. “The only way for WWE to take full advantage of this opportunity is for me to return as Executive Chairman and support the management team in negotiating our media rights and combine that with an assessment of strategic alternatives. Through my return, WWE will , as well as any transaction counterparties, to participate in these processes in the knowledge that they will have the support of the controlling shareholder.”

Mr. McMahon said, “Ms. Wilson and Mr. Barrios are highly qualified executives whose professional experience positions them well to help the company achieve the best possible results in both initiatives. As former WWE co-chairs and board members, they are well acquainted with the dynamics of the industry and the organization’s operations and have helped steer the company through previous successful media rights negotiations I look forward to working closely again with Michelle and George – as well as the company’s remaining directors and management team , who have my full support and confidence WWE has an exceptional management team and I do not intend my return to have any impact on their roles, duties or responsibilities.”

Do you think WWE will eventually sell to another company? Let us know in the comments!

Similar Posts:

Asley Simon

Learn More →

Leave a Reply

Your email address will not be published. Required fields are marked *