Sports
February 18, 2023
By Nandini Sharma
Vince McMahon, a businessman in professional wrestling, is attempting to sell his company for a large amount of money.
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McMahon, WWE's majority stakeholder, rejoined the company in January as executive chairman and has begun negotiating a new broadcast contract.
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It presently works with Fox (FOX) and Comcast (CMCSA), the latter of which enjoys enormous popularity thanks to its Peacock streaming service.
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McMahon, who left WWE in 2022 after it was revealed he had paid millions of dollars to settle sexual misconduct charges, is now in charge of the company's strategic review.
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The asking price was 37% more than the company's current market value of $6.5 billion. The stock has increased 30% so far this year, in part as a result of takeover rumors.
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The persons, who asked that their names not be used since the conversations are private, claimed that the firm had already received bids.
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The report also went into a little more detail on rumors of potential purchasers in the Middle East.
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The Saudis allegedly already had a deal in place to purchase WWE, but that information was denied by WWE CEO Nick Khan as "completely incorrect.
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