Big upheaval in WWE world, Vince McMahon sold company to Saudi Arabia
Information about the sale of American professional wrestling promotion company WWE to Saudi Arabia has come to the fore. WWE has been sold to the Public Investment Fund of Saudi Arabia. Steffy McMahon is believed to have resigned from the company.
Big information has come to light about the American professional wrestling company i.e. World Wrestling Entertainment (WWE). The company is believed to have been sold. The company Saudi WWE has reportedly been sold to the Public Investment Fund of Saudi Arabia.
WWE became a publicly traded company in October 1999. After this, for the first time the company is going to be private again. There is also the possibility that Vince McMahon returns to the Board team. Let us tell you that the news of WWE allegedly being sold to Saudi Arabia came after Stephanie McMahon announced her resignation from the post of President and Co-CEO. WWE then officially confirmed that Vince McMahon was unanimously returning as acting chairman of the board.
The news of the sale to WWE came to light when McMahon, who had previously retired, returned to the board of directors. On his return, he announced that the company was in the process of making strategic choices. Wherein WWE JP Morgan was hired to advise the company on a possible sale. In this, financial analysts named Comcast, Disney, Endeavor Group Holdings, Amazon and Netflix as possible contenders to buy the world’s largest wrestling promotion.
There was talk about Saudi Arabia’s Public Investment Fund entering the fray as a bidder. The latest betting odds released Tuesday predicted Comcast as the leading suitor to fend off the sale of WWE.
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