Vince McMahon's asking price for WWE is $9 billion, report says
By Jon Swartz
McMahon returned to World Wrestling Entertainment in January to oversee sale of the company
Vince McMahon wants as much as $9 billion for World Wrestling Entertainment Inc., the media company he ran for decades and returned to this year in order to sell it, according to a Bloomberg report citing people familiar with the matter.
The company (WWE) has received some offers, the report said, with Endeavor Group Holdings Inc. (EDR), owner of the Ultimate Fighting Championship, among the potential buyers.
WWE declined comment.
The mercurial McMahon, WWE's controlling shareholder, reinstated himself as executive chairman in January to oversee a strategic review and sale of the company. Last year, McMahon stepped aside after reports in the Wall Street Journal that he had paid millions of dollars to settle sexual-misconduct claims.
Shares of WWE are up nearly 3% in late-afternoon trading Friday.
As of the stock's close on Thursday, the asking price was nearly 40% higher than the company's $6.5 billion market value. WWE shares have climbed 30% this year, largely because of speculation over the potential sale.
The steep asking price has prompted wrestling observers to question how much WWE could actually fetch in a sale.
Also read:Stephanie McMahon resigns from WWE after Vince McMahon's return to board
Related: WWE's Vince McMahon agrees to multimillion-dollar legal settlement with accuser: report
(END) Dow Jones Newswires
February 17, 2023 15:46 ET (20:46 GMT)
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