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Post by Peep's Naitch on Jan 10, 2023 23:30:57 GMT -5
You are reading this story right. Vince McMahon has seemingly sold World Wrestling Entertainment to a Saudi Arabian Investment firm for an undisclosed sum. WWE has been in the McMahon family for over half a century. But all the actions of the last couple of years has been aligning itself in this direction especially the last 72 hours. The news comes hours after Stephanie McMahon announced her resignation as Chairwoman & Co-Ceo, following which a WWE press release confirmed that Vince McMahon had been unanimously elected as the Executive Chairman of the Board. The talk of a potential WWE sale picked up steam last Friday after the formerly retired Vince McMahon — the controlling shareholder of WWE — reinstated himself to WWE's Board of Directors and announced that the company was preparing to undertake "strategic alternatives" with the goal to "to maximize value for all WWE shareholders." The statement was widely interpreted as McMahon's intention to sell the WWE. Subsequently, financial analysts suggested media giants such as Comcast, Disney, Endeavor Group Holdings, Amazon and Netflix as potential suitors to purchase the world's biggest wrestling promotion. While there was chatter 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 pull off a sale of WWE. Without question, the world of pro wrestling and sports entertainment has changed forever. More on this revolutionary news as it breaks. Credit: www.wrestlinginc.com/1163294/wwe-reportedly-sold-to-saudi-arabias-public-investment-fund/
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