WWE shares have jumped another 4% Wednesday after reports emerged that Vince McMahon has agreed to sell the World Wrestling Entertainment franchise to Saudi Arabia's Public Investment Fund (PIF).
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
DAZN reporter Steven Muehlhausen, in what seems to be a now-deleted tweet, reportedly wrote that sources said the WWE has been sold to Saudi Arabia’s Public Investment Fund and the company will go back to being private.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
He is said to have added that it is unknown if Vince McMahon will return to being head of creative, but it is expected by some people.
Sale talks emerged last week after McMahon, who retired in July 2022 following recent controversy, announced he was reinstating himself and two others onto the board of directors after a six-month hiatus.
The WWE hinted at a potential sale in a press release, stating it “intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders.”
The reports of the sale come not long after it was announced Vince McMahon's daughter, Stephanie McMahon, had stepped down as the co-CEO of the company.
WWE shares have jumped in the last few trading days, climbing from above $67 per share to over $90. Premarket Wednesday, it is up over 4% at $94.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.