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BusinessJan 12, 2023

Vince McMahon returns to WWE and explores a potential sale

Media Consolidation

Victor Lei

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World Wrestling Entertainment (NYSE:WWE) has started 2023 up nearly 30%.

It’s one of the few that finished 2022 in the green. The company was also in the news for the wrong reasons last year.

Here’s why…

WWE founder and ex-CEO Vince McMahon was accused of sexual misconduct.
He left the company over the investigation, and McMahon’s daughter Stephanie McMahon stepped in as co-CEO.
Earlier this month, Vince returned to the company’s board, and Stephanie McMahon resigned as CEO a few days later.

Vince said he was reviewing strategic alternatives, including putting the company up for sale. And a deal could happen within the next 3-6 months.

Will WWE sell? Everybody’s got a price.

🎵 Money, money, money, money, moneyyyyyy 🎵

Per MKM Partners’ Managing Director Eric Handler — WWE would attract many buyers (BBG). WWE’s intellectual property is highly valuable, and brands are increasingly considering owning that IP.

Potential buyers include:

Comcast (NASDAQ:CMCSA) — whose Peacock streaming service has an existing deal with WWE.
Other media giants like Disney (NYSE:DIS), Netflix (NASDAQ:NFLX) and Warner Bros. Discovery (NASDAQ:WBD).
Endeavor Group Holdings (NYSE:EDR) — the owner of UFC.

There were reports that Saudi Arabia’s Public Investment Fund was also looking at the deal.

Get Joe’d up: The story behind WWE.