The sale of the World Wrestling Entertainment (WWE) has kicked into top gear with former CEO Vince McMahon overseeing the deal.
McMahon intends to return to the company to “fully capitalize” on upcoming media rights talks and plans to speak to interested buyers before agreeing on any renewals for its TV rights.
It was reported that McMahon was planning a sale of the business upon his return to the corporation’s board.
CNBC reported that the WWE has tapped the4 services of US financial services firm JP Morgan as an adviser to a potential sale and that a deal would likely take place within three to six months.
WWE had a market capitalization of over US$6 billion on 6th January, with its stock rising by nearly 17 percent.
Among the parties expected to make a bid are Saudi Arabia’s Public Investment Fund (PIF) edia conglomerate Comcast and agency giant Endeavor.
WWE has a deal to stage two major events per year in Saudi Arabia that could earn the corporation US$100 million annually and has an exclusive agreement for its over-the-top (OTT) platform with Comcast-owned NBC.
Meanwhile, Endeavor president Mark Shapiro has previously expressed interest in acquiring WWE.
