Vince McMahon is looking to get as much as $9 billion in a potential sale of World Wrestling Entertainment Inc., the company he returned to run this year, according to people familiar with his thinking.
www.bloomberg.com
Vince McMahon’s looking to get as much as $9 billion" in a sale of WWE, according to people that they say are familiar with McMahon. Right now, the company has market cap of about $6.5 billion so that is far more than the company is worth. Also keep in mind that part of that valuation comes from the rise in the stock price that took place after Vince stated plans to look into selling. If he could get that much, I am sure he wouild sell in a second.
The story states that, "The company has already received offers, said the people, who requested that they not be identified because the discussions are private. WWE declined to comment."
According to the story the potential investors include:
*Endeavor, which owns UFC.
*Investors from The Middle East (Saudi Arabia, of course).
The story notes that Endeavor would need help from a third party to make the same. Who knows, maybe they will work with The Saudis.
The story says that Netflix and Disney "may be uneasy taking on a business controlled by McMahon". CEO Nick Khan has already stated that is not a term of sale for the right price.
The story also stated, "Any media company interested in airing the programs could also use this moment to buy the whole business. WWE has been one of the most popular draws for Comcast’s Peacock streaming service."
cultaholic.com
www.cagesideseats.com
