Former WWE Chairman and CEO Vince McMahon claimed he wanted to return to the company by being reinstated on WWE’s Board of Directors for two reasons.
Those reasons were to help secure new TV rights deals for Raw and SmackDown ahead of those contracts expiring in September 2024 and look for potential bidders interested in buying the company.
This morning, Alex Sherman of CNBC reported that “WWE has hired JPMorgan to help the company advise on a potential sale.”
The report added, “If a deal occurs, it would likely occur in the next three to six months, said the people, who asked not to be named because the discussions are private. WWE plans to talk to potential buyers before it makes a decision on TV rights renewal agreements.”
The article noted three categories of likely buyers for WWE – legacy media companies, streamers, and entertainment holding companies. The article speculated companies such as Comcast (NBCU’s parent company), Netflix, Amazon, Endeavor Group Holdings (UFC’s parent company), Warner Bros. Discovery (TNT & TBS’ parent company), Disney, and FOX could be potential buyers.
McMahon stepped away from the company last July after the Wall Street Journal reported on his sexual harassment and assault allegations. However, McMahon later felt that he was given bad advice to step down from his duties in WWE.
McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, previously told WWE’s Board in a letter last month that he believes there is a narrow window to kick off the sale process because they are about to enter negotiations for their next media rights deal.
