WWE reportedly hires JPMorgan to advise on sale as analysts list potential buyers
After five-plus months of sexual misconduct scandal-inspired retirement, Vince McMahon is back on the WWE Board of Directors. His stated purpose for the move is to maximize shareholder value from a...

After five-plus months of sexual misconduct scandal-inspired retirement, Vince McMahon is back on the WWE Board of Directors. His stated purpose for the move is to maximize shareholder value from a sale of the company or their next round of media rights deals. Many don't trust that that's all the former CEO and head of creative wants to do post-return, but it was enough to get Wall Street excited.
WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. JPMorgan declined to comment. A WWE spokesman couldn't immediately be reached for comment.
If that timeframe is correct -- and it makes sense, since WWE's management team told employees on Friday afternoon they'll be exploring sale options before starting on negotiations for new television/streaming deals for Raw & SmackDown, and those shows' current contracts with NBCUniversal and FOX end in 2024 -- the ball will need to get rolling pretty quickly. That probably includes at least a few of the names being bandied about by the media in the 36 or so hours since Vince set his comeback plan in motion: WWE's UK rights deals with BT Sport are also expiring soon, and an acquisition would bring WWE back to Comcast-owned Sky. CNBC points out Comcast CEO Brian Roberts has said the company isn't in a rush to acquire any other companies right now, which might not match WWE's timetable... but could also just be pre-negotiation posturing. That's also because they sold off many of their entertainment assets to Disney not long ago, so acquiring WWE might not be a strategic fit. And speaking of the Mouse House... Still, WWE could fill airtime on ABC and the ESPN networks, and give people a reason to subscribe to Hulu or ESPN+ (or whatever the three Disney-owned streamers end up becoming). Heck, maybe there could even be a WWE Universe themed area at Disney World someday? But CNBC reminds us CEO David Zaslav is on record as saying he prefers to own rather than license content rights, and considering what its done for Peacock, Zaslav could see the WWE brand as a more attractive one to have on whatever HBO Max ends up being. Don't be surprised if we learn at some point there were at least talks with WBD. Netflix doesn't own Formula 1 though, and CEO Reed Hastings has a similar view to Zaslov on IP ownership. They bought UFC outright in 2021, and that deal's been successful for them (they paid $600 million for the mixed martial arts company, and it generated more than a billion in revenue for them last year). This could also be a preferred partner for Vince, who may be eyeing a deal similar to Dana White's where he could continue to run WWE post-sale. Another holding company, whose assets include Sirius XM and the aforementioned Formula 1. CNBC theorizes they could look to apply the same strategy they used with racing to present wrestling. They have history with WWE & Vince, and lots of money they've been using on sports assets like LIV Golf and Premier League club Newcastle United. Even the analyst (LightShed Partners' Brandon Ross) that threw their name into the conversation thinks Endeavor is a much more likely buyer, so the Saudis are probably (and hopefully) not going to end up owning WWE. But it is a 'never say never' business...