Ending yesterday, January 12, 2023, WWE has surprised by issuing an official press release on its corporate web portal, where they make it clear that have hired 3 companies to serve as external advisors and so “support the review of strategic alternatives”.
Which basically means that will help them in the sales process that is currently underway since Vince McMahon returned to the WWE Board of Directors and was again elected as Executive President despite all the obstacles he had. Below is the press release issued:
► WWE does everything to speed up the sales process
“WWE hires external advisors to support the review of strategic alternatives. STAMFORD, Connecticut, January 12, 2023
“WWE announced today that it has hired The Raine Group, LLC as a financial adviser Kirkland & Ellis LLP as legal advisor and August LLC as strategic communications advisor to support the WWE management team and its Board of Directors, in connection with a review of strategic alternatives to maximize value for all WWE shareholders and other stakeholders. Vince McMahon, founder and Executive Chairman of WWE, said:
“’The next cycle of WWE television broadcast rights will be negotiated in the midst of a panorama where there is a rapid evolution both at the level of entertainment and television media, and we believe that exploring our strategic alternatives at this critical time will allow WWE to fully capitalize on the significant value of our intellectual property.
“’I am fully confident that our outstanding directors, outside advisers and executive team will provide valuable experience and advice 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.
“No guarantees can be given regarding the outcome or timing of the strategic alternatives review process. WWE does not intend to comment further until the process has been concluded or the Company has otherwise determined that further disclosure is appropriate or required.”