WWE CEO Nick Khan has provided a huge update on a potential WWE sale.
Following Vince McMahon’s return to the WWE board of directors, reports indicated that WWE plans to complete a deal for a sale before the middle of 2023.
Nick Khan has now commented on a possibly sale, revealing a potential timeframe for an acquisition deal.
Speaking on CNBC’s Squawk Box, Nick Khan predicted that the eventual sale will be a fast process. When asked about his expectations surrounding timing, Khan stated:
“Quick. I’m not trying to be obtuse in saying that, but I think it’s going to be a pretty fast process, maybe three months.”
On January 17, WWE made a new SEC filing stating that, as of January 16, Vince McMahon no longer needs stockholders’ approval for his actions.
WWE CEO Nick Khan spoke about Vince during the recent WWE earnings call, where he was asked if McMahon would step down from the company following a sale should it be beneficial to the shareholders.
Interestingly, Khan replied:
“Yes. Without question.
“He’s declared it to the board. He’s declared it to us in management. It’s all about shareholder value. Obviously, he is a shareholder. So it’s not about what role he’ll have. It’s about maximizing that value opportunity,”
A source has revealed that a leading media company is reportedly not in the running to buy WWE, despite hopes that this is not the case. You can read more about that right here.
For all the news regarding a WWE sale, including potential buyers, changes to the company and more, click here.
.@WWE CEO Nick Khan says strategic sale will be quick: "Maybe three months"$WWE @CNBC @DavidFaber @CarlQuintanilla @MorganLBrennan pic.twitter.com/vRKyDjjNWn
— Squawk on the Street (@SquawkStreet) February 3, 2023
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