Kemo
02-20-2023, 01:42 PM
:wwe5:
WWE Chairman Vince McMahon is asking for a steep price for the WWE, according to a new report.
The company is heading into an interesting situation as they look for a potential buyer. McMahon returned to power last month following his short retirement on July 22, 2022, following allegations of misconduct with female employees. His reason for his comeback to the WWE Board of Directors and Chairman position was to help the company sell or secure a TV deal.
While the company has yet to be sold, WWE CEO Nick Khan shared on Feb. 3 that fans may expect a sale in possibly three months. In a new update from Bloomberg’s Lucas Shaw, McMahon is looking for $9 billion for the WWE.
“Vince McMahon is looking to get as much as $9 billion in a potential sale of World Wrestling Entertainment Inc., the company he returned to run this year, according to people familiar with his thinking", said the report. It continues, “The company has already received offers, said the people, who requested that they not be identified because the discussions are private. WWE declined to comment. Shares of WWE rose as much as 4.9% to $91.48 Friday in New York. As of the close Thursday, the asking price was 37% greater than the company’s $6.5 billion market value.”
The report shares that Endeavor Group Holding Inc. is among the potential buyers looking to acquire WWE. Combat sports fans may recognize Endeavor as the current owner of the UFC. However, it is worth pointing out that the group bought the UFC for close to $6 billion in order to have full control of the company, which they needed numerous private equity firms, according to MMA Fighting’s Damon Martin. The Bloomberg article notes that Endeavor would need financial help in order to make the sell as their market cap value is $10.4 billion.
Other potential buyers could be the likes of Comcast, Fox, Netflix, Disney, and Saudi Arabia Public Investment Fund. The article notes that McMahon “…Built the WWE into an international entertainment powerhouse that packs arenas and airs programs regularly on Fox Corp. and Comcast Corp.’s USA network.” To lose the potential TV rights to the WWE may not be in the best interest of Comcast or Fox. Comcast in particular has WWE’s library on their streaming service Peacock, which has helped them gain subscribers.
It’s unclear who will buy WWE. However, we know how much McMahon values his company.
WWE Chairman Vince McMahon is asking for a steep price for the WWE, according to a new report.
The company is heading into an interesting situation as they look for a potential buyer. McMahon returned to power last month following his short retirement on July 22, 2022, following allegations of misconduct with female employees. His reason for his comeback to the WWE Board of Directors and Chairman position was to help the company sell or secure a TV deal.
While the company has yet to be sold, WWE CEO Nick Khan shared on Feb. 3 that fans may expect a sale in possibly three months. In a new update from Bloomberg’s Lucas Shaw, McMahon is looking for $9 billion for the WWE.
“Vince McMahon is looking to get as much as $9 billion in a potential sale of World Wrestling Entertainment Inc., the company he returned to run this year, according to people familiar with his thinking", said the report. It continues, “The company has already received offers, said the people, who requested that they not be identified because the discussions are private. WWE declined to comment. Shares of WWE rose as much as 4.9% to $91.48 Friday in New York. As of the close Thursday, the asking price was 37% greater than the company’s $6.5 billion market value.”
The report shares that Endeavor Group Holding Inc. is among the potential buyers looking to acquire WWE. Combat sports fans may recognize Endeavor as the current owner of the UFC. However, it is worth pointing out that the group bought the UFC for close to $6 billion in order to have full control of the company, which they needed numerous private equity firms, according to MMA Fighting’s Damon Martin. The Bloomberg article notes that Endeavor would need financial help in order to make the sell as their market cap value is $10.4 billion.
Other potential buyers could be the likes of Comcast, Fox, Netflix, Disney, and Saudi Arabia Public Investment Fund. The article notes that McMahon “…Built the WWE into an international entertainment powerhouse that packs arenas and airs programs regularly on Fox Corp. and Comcast Corp.’s USA network.” To lose the potential TV rights to the WWE may not be in the best interest of Comcast or Fox. Comcast in particular has WWE’s library on their streaming service Peacock, which has helped them gain subscribers.
It’s unclear who will buy WWE. However, we know how much McMahon values his company.