UFC parent company, Endeavor, has been linked with the potential purchase wrestling promotion, WWE.
While no official announcement has been made in regard to the sale of the company, recent reports have speculated that the WWE could possibly be changing hands. This stems from a recent legal filing that immediately placed former WWE head of chairman, CEO, and head of creative, Vince McMahon, back on the board of directors.
McMahon stepped down from his posts last July after it had emerged he had paid nearly $15 million to four women, in exchange for their silence on sexual relationships and potential sexual misconduct.
Lauren Thomas of the Wall Street Journal reported 77-year-old’s return to the company was in an effort to play a role in negotiations of a new television rights deal, but also a possible sale of the company. It has also been reported that the WWE has enlisted the help of JP Morgan to assist with the sale.
Endeavor listed as potential buyers
Now, it turns out that the UFC’s parent company, who bought the promotion in 2016, could be in the running to purchase the famed wrestling promotion.
‘These companies and any business partners have to weigh whether they want to do business with Vince, whose scandals Stephanie has previously said hurt ad sales last summer.‘- Brandon Thurston
The value of the WWE is estimated at roughly $6.5 billion and the buyers could consist of either legacy media companies such as Fox, the streamers like Netflix and the entertainment holding companies such as Endeavor.
Could this be a smart business move for Endeavor?