WWE has a new group to lead their sale.
It was reported earlier this week that JP Morgan was hired by WWE to lead a sale of the company. But now, WWE has hired Raine Group to lead the sale. This does not mean JP Morgan is out, intact, they’re still hired by WWE and involved with the process. But, Raine Group is the lead. WWE has put out a press release for the news.
World Wrestling Entertainment (NYSE:WWE) has brought in outside advisers to help it pursue strategic alternatives, a process that could lead to selling a stake or the whole company. WWE has retained Raine Group as its financial adviser on any transactions, and hired Kirkland & Ellis as legal advisers and August LLC as strategic communications advisers. “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,” said Chairman Vince McMahon. 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,” he said.
– WWE
It was also pointed out that a Raine representative was present for the only domestic meeting between WWE and the Saudi government that has been recorded in public filings under the Foreign Agent Registration Act.
We will continue to cover any updates on a potential sale.
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