Vince McMahon is an iconic figure in the pro wrestling and business world. In 1982, McMahon purchased World Wrestling Entertainment from his father and made it into a global Jagannath. He has faced a lot of allegations and challenges throughout his career.
Last July, the 77-year-old has to retire from WWE duties after multiple allegations were made against him. However, yesterday, Vince McMahon was reinstated to the WWE board of directors. McMahon also put the former WWE Co-Presidents Michelle Wilson and George Barrios on the board. You can read more details by clicking here.
The Wall Street Journal was the first to break the news regarding Vince McMahon’s return. McMahon wanted to participate in upcoming media rights negotiations and he is also looking to sell the company.
CNBC reported that WWE has hired JPMorgan Chase & Co. to get advice on a potential sale. They noted that “If a deal occurs, it would likely occur in the next three to six months”.
However, there’s no word on whether the buyer would like to work with McMahons. At this point, WWE is worth more than $6 Billion.
“WWE is McMahon’s life work. It’s possible a sale may only happen with at least some strings attached. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation.”
CNBC further noted that legacy media companies, streamers, and entertainment holding companies might be interested to purchase WWE. CNBC mentioned these companies in their article as potential buyers. Comcast (NBCU’s parent company), Fox, Disney, Warner Bros. Discovery (TNT & TBS’ parent company), Netflix, Amazon, and Endeavor Group Holdings (UFC’s parent company).
We will update you when we receive more details. Stay tuned with The Spotlight.