Vince McMahon is looking to get $9 billion in a potential sale of his company WWE—$2.5 billion greater than the company’s market value.
Key Details
- World Wrestling Entertainment (WWE) could potentially have a new owner as current owner Vince McMahon is looking to sell the company.
- McMahon reportedly wants $9 billion for the business, which is $2.5 billion greater than the company’s market value of $6.5 billion, according to the value of its stock, which is publicly traded.
- Possible buyers include Endeavor Group Holdings Inc., the Ultimate Fighting Championship (UFC) owner, and sports investors from the Middle East.
Why it’s news
The famous wrestling entertainment company WWE could potentially have a new owner in the near future.
WWE owner Vince McMahon is looking to make a potential sale of the company for $9 billion, and it is reported he has already received numerous offers.
McMahon is the company’s controlling shareholder and reinstated himself as executive chairman to review the company and oversee the possible sale.
There have been offers for the company, and potential buyers include the owner of another popular wrestling group, the UFC, and sports investors from the Middle East, which have also been investing in soccer and golf.
The WWE matches are currently broadcast on Fox Corp. and Comcast Corp.’s USA Network, and the company is in the process of renegotiating deals with the companies, but other TV networks could step in and purchase the WWE and get exclusive broadcasting rights but none have stepped up yet.
Regardless of the popularity of the wrestling entertainment company, it might have to lower the price to get a buyer. The $9-billion asking price is $2.5 billion greater than what the company is worth and is seven times the company’s $1.29 billion annual sales rate.
