NBCUniversal CEO Asked About Potential WWE Acquisition, Says Comcast Is Open To ‘Bolt-On’ Deals
Top NBCUniversal executives comment on their acquisition philosophies in response to a question about WWE potentially being up for sale.
Vince McMahon recently returned to WWE’s board of directors as executive chairman to lead the company in a “review of strategic alternatives,” including a potential sale of the company.
Comcast, the long-time media partner of WWE, has frequently come up in the conversation of logical buyers should a conglomerate look to purchase the sports entertainment juggernaut.
NBCUniversal was asked about potentially acquiring WWE on a recent earnings conference call. NBCU CEO Jeff Shell did not address WWE by name in his response. However, he did note that Comcast is always looking for acquisitions that help bolster its businesses.
“We are always looking for bolt-on acquisitions that bolster our businesses. Two examples: We bought DreamWorks [Animation]… and it has been paying off steadily since our acquisition. Just now, with Puss In Boots [The Last Wish], which is a big hit at the box office and really our entrance back into the Shrek universe, continues to make that acquisition look really favorable,” Shell said (via Deadline).
Comcast president Mike Cavanagh further stated that any outside deal would have to be weighed against Comcast directly investing in its businesses.
“Where we control it, operate it, know what we’re doing, have no surprises,” he said.
WWE Network programming has been exclusive to NBCUniversal’s streaming service Peacock in the United States since 2021. Peacock closed 2022 with more than 20 million paid subscribers, adding 5 million new subscribers in the last quarter of 2022.
WWE Monday Night Raw and WWE NXT are also featured on the USA network, an NBCU-owned cable channel.
In a recent interview with Bill Simmons, WWE CEO Nick Khan says he does not expect a potential sale of WWE to be a long process. Read more here.
