Amid all the rumors and speculations about the future of WWE, one thing is sure that the company is seriously considering the option of a sale. The latest indication of it, is the hiring of multiple firms to advise them on the various aspects of a potential ownership transfer.
The company sent out a press release earlier today, announcing that they have hired several groups to help with legal and financial matters:
“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.”
WWE sale statement
The press release noted that there is no assurance of the outcome of this process, and that they are looking to maximize the profits for the shareholders:
“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.”
Alex Sherman of CNBC explained with a tweet what the latest hirings mean for JP Morgan which had previously been engaged to help with a sale:
“WWE hires Raine Group to lead sale. ÃŒ reported earlier this week JPM has been hired. That’s true too, but Raine is lead.”
