Report: WWE Sale Process Shaping Up To Be ‘Hot And Heavy’ With Interest
WWE continues to explore strategic alternatives as media rights are coming up and a potential sale has been explored.
On CNBC’s Squawk on the Street, David Faber commented on what he’s heard regarding a potential WWE sale.
“What I’m hearing, at least from people familiar with the situation is, it’s shaping up to be a pretty good sale process. Some people saying, ‘pretty hot and heavy.’ Those who were even somewhat doubtful, in fact, that you’d get to a sale in the end, seem less so. Does that mean something gets done here? Unclear. Who is participating? We can all take our various guesses. As reported previously, is there interest from Endeavor, for example, in pursuing what would be a complex transaction in terms of reverse Morris trust where they would spin off UFC into [a new company] and control that company, which would be merged with WWE. Sure, they would like to explore that concept. Is there private equity interest in the part of some? Perhaps in partnership with well-known names in the sport. That’s a possibility. Does Liberty (media) have an interest in taking a look? Sure. The Saudis moved heavily into golf, took a look at Formula 1. Would the [Saudi Arabia Public Investment Fund] have interest? Yes, that’s a possibility. There may be others. Something has led, at least to a number of people close to this, to indicate to me that it is not just live, but it’s going quite well. It is expected to conclude in the not too distant future. A key here though, remains McMahon’s real willingness to sell,” he said. “Comcast, my understanding, not part of this sale process.”
Nick Khan told CNBC in February that Vince McMahon was open to a transaction where he was not part of the company moving forward. He also believed a sale process would be quick.
Khan also recently commented on upcoming media rights negotiations and how he believes there will be money for WWE. You can find his full comments by clicking here.
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