WWE Hires Specialized Sales Firm
Following Vince McMahon’s return to the WWE Board of Directors with the potential goal of selling WWE, yet another decision points us in the direction of a sale.
Indeed, the American financial newspaper CNBC has learned that WWE has hired the firm JP Morgan to help them with their finances and to propose a plan of attack for potential buyers of the company. The firm that will allow them to accompany them throughout the sales process. Their source mentions that if the sale goes through, it will likely take place within the next three to six months in order to happen before the 2024 TV deals for RAW and SmackDown end.
This strategy of selling before the end of TV contracts allows potential buyers like NBCUniversal (USA Network which broadcasts RAW and NXT, in addition to Peacock for the WWE Network) or FOX (which airs SmackDown) to enter into the sales transaction and take full control over the broadcast before the end of contracts and renewals. Disney, WarnerBro, Discovery, Netflix, Amazon, Endeavor and Liberty Media are also listed as potential buyers according to CNBC.
The next few months will be crucial for the future of WWE. We must not forget that the federation does not absolutely want to sell, but it is looking at the offers and the options on the table in an official way.
Photo credit: WWE
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