WWE is engaging with outside advisors as media rights negotiations come up.
WWE announced that they have retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support WWE’s management team in connection with a review of strategic alternatives to maximize the value of the company and shareholders.
WWE Engages Outside Advisors to Support Review of Strategic Alternatives
STAMFORD, Conn.--(BUSINESS WIRE)-- WWE (NYSE: WWE) today announced that it has retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support WWE’s management team and its Board of Directors in connection with a review of strategic alternatives to maximize value for all WWE stockholders and other stakeholders.
Vince McMahon, WWE’s Founder and Executive Chairman said, “WWE’s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalize on the significant value of our intellectual property. I am highly confident that our outstanding Directors, outside advisors and executive team will provide valuable expertise and counsel to help guide the Company through this important process while our management team and employee base continue to deliver results and content our fans love.”
There can be no assurances given regarding the outcome or timing of the strategic alternatives review process. WWE does not intend to comment further until the process has concluded or the Company has otherwise determined that further disclosure is appropriate or required.
Vince McMahon officially returned to the board of directors on January 6, claiming he needed to return to help lead the upcoming round of media rights negotiations. Stephanie McMahon resigned from her position as Co-CEO on Tuesday. Nick Khan is now the lone CEO of the company.
WWE media rights deals with USA Network (WWE Raw) and Fox (WWE SmackDown) are up in 2024.
On January 7, WWE reportedly hired JPMorgan to assist with a potential sale of the company.