WWE names advisors for media rights negotiations and potential sale

WWE (NYSE: WWE) announced it has retained The Raine Group LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support the company in upcoming negotiations for media rights contracts and the possible sale of the company.

“WWE”™s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalize on the significant value of our intellectual property,” said Vince McMahon, who forced his way back into the company”™s leadership last week by using his majority share ownership to elect himself executive chairman. “I am highly confident that our outstanding Directors, outside advisors and executive team will provide valuable expertise and counsel to help guide the Company through this important process while our management team and employee base continue to deliver results and content our fans love.”

The Wall Street Journal had reported the company retained JPMorgan in an advisory capacity in considering potential acquisition suitors. However, WWE never confirmed the Journal”™s reporting and JPMorgan was absent from this new announcement of advisory entities.