WWE CEO Nick Khan has recently addressed the upcoming WWE media rights negotiations as the company gears up for potential sale.
A previous report had stated that WWE was set to meet potential buyers in April 2023 with Khan expecting the sale to be a relatively quick process.
With media rights also under negotiation, Nick Khan recently addressed the issues whilst speaking to Sports Business Journal, saying:
“If you look at the ratings and relevancy of our product, we like to think we’re in a good position.”
The WWE CEO would go on to discuss the process for the negotiations, saying:
“We look to get into the heat of the conversation first with our incumbents by the middle of the year or so.
“Depending on the timing and how strategic alternatives shake out, it will be either be middle of the year getting hot and heavy, or some time shortly thereafter.”
He would also note that WWE had timed its deals with both Fox and NBCUniversal so that they wouldn’t be in the market for its next agreement at the same time as NFL.
As Sports Business Journal notes:
“In 2021, the NFL announced new deals with Fox, CBS, NBC, ESPN and Amazon worth more than $110 billion.”
Whilst WWE are entering the negotiation market at the same time that NBA and Nascar are also seeking new media rights deals, Khan stating:
“We believe there’s plenty of money out there for us.”
As we enter the first round of negotiations, WrestleTalk readers can follow the WWE sale news here.
Transcript from Sports Business Journal.
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