As we noted back in June, WWE placed a $27 million bid on the building that houses its TV production facility in Stamford, Connecticut. WWE wants to buy an office complex that was recently put up for sale as part of bankruptcy proceedings. There were more than 100 bidders for a total of eight properties that were made available for bidding. WWE went above and beyond on their bid as they offered $3 million above the minimum price for the office complex they bid on.
In an update, WWE financial executive George Barrios confirmed during Thursday’s conference call with investors that WWE acquired the TV production facility in Stamford. Barrios did not give the final bid price but did say that they expect to close the deal in the third quarter of this year. Barrios explained that the new facility solves operational constraints and meets their long-term space goals.