WWE hires sales advisors
January 13, 2023
By Nik Roseveare
WWE, the wrestling entertainment company has hired multiple advisors to help the company’s potential sale. WWE said it has retained The Raine Group as financial advisor, Kirkland & Ellis as legal advisor, and August as strategic communications advisor to “support the management team and its Board of Directors in connection with a review of strategic alternatives to maximise value for all WWE stockholders and other stakeholders”.
The move comes just days after a rumoured sale to Saudi Arabia PIF amounted to little more than internet speculation.
Vince McMahon, WWE’s Founder and recently reappointed Executive Chairman, commented: “WWE’s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalise on the significant value of our intellectual property. I am highly confident that our outstanding Directors, outside advisors and executive team will provide valuable expertise and counsel to help guide the Company through this important process while our management team and employee base continue to deliver results and content our fans love.”
A company press statement added: “There can be no assurances given regarding the outcome or timing of the strategic alternatives review process. WWE does not intend to comment further until the process has concluded or the Company has otherwise determined that further disclosure is appropriate or required.”
Interested parties in WWE reportedly include the likes of Netflix, Comcast, Amazon, Disney, rival AEW and the aforementioned Saudi Arabia PIF.