Report: JPMorgan Hired To Help With Potential WWE Sale
The news follows Vince McMahon's return to the board
A new report from CNBC claims that WWE has reportedly hired investment bank JPMorgan to help with a potential sale of the company.
The report states, "WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. JPMorgan declined to comment. A WWE spokesman couldn’t immediately be reached for comment."
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 story follows the news that Vince McMahon has returned to WWE, rejoining the Board of Directors along with fellow returning Board members George Barrios and Michelle Wilson. McMahon's return followed reports from the Wall Street Journal that he would not approve any sale or media rights deal without his own direct involvement.
Since sale talks have kicked back up, Front Office Sports reported on Friday that Saudi Arabia's Public Investment Fund, "is emerging as a possible bidder for WWE if the promotion puts itself up for sale." Other possible suitors include Amazon, Comcast, Fox, Endeavor, Liberty Media, and talent agency CAA.
Written by Justin Henry
In addition to writing lists and commentaries for Cultaholic, Justin is also a features writer and interviewer for Fighting Spirit Magazine, and is co-author of the WWE-related book Titan Screwed: Lost Smiles, Stunners, and Screwjobs.