WWE's reported status on sale talks following Vince McMahon's retirement
Contrary to recent reports, WWE may not be up for sale despite the departure of the promotion's founder and long-time CEO, Vince McMahon.
McMahon retired from the promotion last Friday in light of allegations against him of paying "hush money" to four former employees. Stephanie McMahon and Nick Khan have since been named the Co-CEOs of the company.
Following McMahon's retirement, the stock price rose by several percentage points on Monday and was viewed by analysts as a signal that shareholders expected the company to be sold soon.
In a story published by CNBC today, a source close to the matter stated that the promotion is not currently in sales talks following Vince McMahon's departure. CNBC noted that companies like Comcast, Disney, Warner Bros Discovery, Paramount Global, Apple, Amazon, and Netflix would all make sense as an acquirer if the promotion is eventually available for purchase.
WWE stock has already shot up 9.51% today following the news of Vince McMahon's retirement and Triple H heading creative. https://t.co/hzLIQALStp
Nick Khan on a potential WWE sale in the future
There has been speculation that the promotion will be up for sale following a series of recent mass releases of talent over the past two years.
Former President and current Co-CEO Nick Khan said the promotion was "open for business" on the Recode Media podcast last year.
However, in a subsequent interview with Ariel Helwani of BT Sport, he clarified those comments. He stated that there are currently no talks of selling the company.
"If somebody credible calls asking, ‘Hey, are you guys for sale?’ What’s your offer? What are ya thinking?' We’re not trying to sell it, that’s not our intent. There are no internal meetings about selling this company. The internal meetings are about growing it and the ability — that we think — we collectively have to tremendously grow what the value of the company is now.” [H/T Wrestling Inc]
It remains to be seen what the future holds for WWE under new management and whether the company will be sold any time soon.
Do you believe WWE will be sold in the near future? Let us know in the comments section below.