WWE Reportedly Working with JPMorgan on Sale Possibilities

The past few days have been a bit turbulent for WWE fans, as Vince McMahon not only returned to the company but also stated his return was to help get the most out of media rights deals and a potential sale of the company. Reports have stated that McMahon and WWE would look at possibilities of a sale before making any media rights deals, and a new report from CNBC states that WWE has hired JPMorgan to help advise on a potential sale according to people familiar with the matter. JPMorgan declined to comment and a WWE spokesman couldn't immediately be reached for comment.

The report goes on to say that if a deal does happen, it would likely happen somewhere between the next three and six months according to people who asked not to be named because of the privacy of those discussions. In his press release, McMahon said he sees his return and facilitation of these discussions as a benefit to a potential deal, since the other party would know they have the support of the controlling shareholder. You can find the release from McMahon below.

"WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms," said Mr. McMahon. "The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder."

Mr. McMahon said, "Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives. As former WWE Co-Presidents and Board members, they are intimately familiar with industry dynamics and the organization's operations and have helped guide the Company through past successful media rights negotiations. I look forward to working closely again with Michelle and George – as well as the Company's remaining directors and management team, who have my full support and confidence. WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."

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