WWE has issued a press release to announce that they have hired multiple advisors to help the company’s potential sale.
Vince McMahon is back running WWE as the Executive Chairman even though he announced his retirement last July. Just like many wrestlers he employed over the last 40 years, Vince changed his mind and now he’s back saying he wants to help sell the company. Since Vince is the majority shareholder in WWE, he ultimately can decide who they sell to, for how much, and when. Vince could also choose to not sign the company and instead negotiate new media rights deals. There are plenty of options for the company.
In a statement issued by WWE, they announced that they have hired a financial advisor, legal advisor and strategic communications advisor to support WWE’s management team.
The press release below was posted on WWE’s Corporate website:
STAMFORD, Conn., January 12, 2023 – 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.
For more information on some of the potential WWE buyers, we have you covered on TJRWrestling.