CNBC analyst David Faber reports that the WWE sale “is expected to conclude in the not too distant future,” which could mean the company is sold earlier than mid-summer as initially expected by some.
Faber noted today that the WWE sale process is “going quite well.”
“I am hearing from people close to the situation that it’s a pretty good sales process with some saying it’s hot and heavy,” he said.
Faber added that people he’s spoken with who were doubtful a deal would happen, are less so now. Part of the doubt has to do with concern that WWE Chairman Vince McMahon will be reluctant to step aside if a deal is made. Faber played a clip of WWE CEO Nick Khan previously stating that McMahon is willing to step aside.
It was also reiterated that Comcast (NBCU parent company, owners of USA Network and Peacock) is not in the running.
Faber said “we can all take our educated guesses” on potential buyers, mentioning Endeavor Group, Saudi Arabia’s Public Investment Fund, a private equity interest that could be in partnership with a well-known name in the sport, and perhaps Liberty Media, an investment firm based in Colorado. It was noted that Endeavor would do a reverse Morris trust, which would see them spin-off the UFC into a new company and merge that with WWE.
For those who missed it, you can click here for Khan’s new comments on the sale, WWE Chief Content Officer Triple H, and more.
It’s a battle royal! @davidfaber reports multiple parties are in the ring for a potential sale of $WWE pic.twitter.com/LuoqfLIHpH
— Squawk on the Street (@SquawkStreet) March 28, 2023
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