WWE has hired financial services giant J.P. Morgan to advise the company on a potential sale, according to a report.
Alex Sherman of CNBC reported on Saturday that the services of the multinational investment bank had been secured by WWE, “according to people familiar with the matter.”
The report notes that J.P. Morgan declined to comment and that a WWE spokesperson could not be reached.
The sources claimed that, if a sale deal is reached, it would likely be within three to six months due to a desire to settle the terms before fresh TV rights negotiations.
According to Sherman, the sources asked not to be named because discussions are being conducted in private.
WWE is noted as an attractive acquisition because a successful buyer would own its intellectual property, meaning that there would be no need to bid for licensing rights every few years.
The report lists Endeavor, Comcast, Disney, Warner Bros. Discovery (AEW’s current broadcast partner), Fox, Netflix, Amazon, and Liberty Media as potential buyers.
Vince McMahon, who controls 80% of WWE shareholdings, officially rejoined the WWE Board of Directors on Friday.
McMahon retired as WWE CEO on July 22nd, 2022 amid an investigation of several allegations of serious sexual misconduct and hush money payments.
J.P. Morgan is the brand name used by JPMorgan Chase & Co. to handle investment banking, asset management, commercial banking, and treasury services. The company is the largest bank in the United States and the largest in the world, measured by market capitalization.
