WWE Sale Update – Multiple Parties Interested in “Hot & Heavy” Market for WWE Purchase

As noted before, WWE is currently in the process of potentially selling the company to a new owner that could take place as early as this Spring.

CNBC’s David Faber reported that his sources stated that WWE’s sale process is currently shaping up pretty well. Faber reported that some of his sources described it as being “hot and heavy” in terms of interest from multiple parties. Faber also reported that several people within the industry had originally been doubtful that a sale would be done in the end prior to the buyers market for WWE heating up.

In regards to bidders, Faber reported that UFC’s parent company Endeavor is currently interested in a potential purchase of WWE that would likely see UFC and WWE being merged under a new company. Faber also reported that Liberty Media and the Saudi Investment Fund are also currently among the bidders for a potential purchase.

In regards to bidders who have dropped out, Faber reported that NBC’s parent company Comcast is believed to no longer be involved in sales talks for WWE.

“What I’m hearing, at least from people familiar with the situation is, it’s shaping up to be a pretty good sale process. Some people saying, ‘pretty hot and heavy.’ Those who were even somewhat doubtful, in fact, that you’d get to a sale in the end, seem less so. Does that mean something gets done here? Unclear. Who is participating? We can all take our various guesses. As reported previously, is there interest from Endeavor, for example, in pursuing what would be a complex transaction in terms of reverse Morris trust where they would spin off UFC into [a new company] and control that company, which would be merged with WWE. Sure, they would like to explore that concept. Is there private equity interest in the part of some? Perhaps in partnership with well-known names in the sport. That’s a possibility. Does Liberty (media) have an interest in taking a look? Sure. The Saudis moved heavily into golf, took a look at Formula 1. Would the [Saudi Arabia Public Investment Fund] have interest? Yes, that’s a possibility. There may be others. Something has led, at least to a number of people close to this, to indicate to me that it is not just live, but it’s going quite well. It is expected to conclude in the not too distant future. A key here though, remains McMahon’s real willingness to sell. Comcast, my understanding, not part of this sale process.”

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

Transcript h/t: Fightful.com