In an update on a potential sale of the WWE, CNBC analyst David Faber made an appearance on Tuesday’s Squawk On The Street and provided details on what he has heard in regards to a potential sale of the company.
“What I am hearing, at least from people familiar with the situation is it’s shaping up to be a pretty good sale process, some people saying pretty hot and heavy, those who were even somewhat doubtful in fact that you’d get to a sale in the end seem less so.
Does that mean something gets done here, unclear, who is participating, we can all take our various guesses. As reported previously, is there interest from Endeavor for example in pursuing what would be a complex transaction in terms of reverse Morris trust, where they would spin off UFC into a new company and control that company which would be merged with the WWE, sure, they would like to explore that concept.
Is there private equity interesting in the part of some, perhaps in partnership with well-known names in the sport, that’s a possibility, does Liberty have an interest in taking a look, sure, the Saudi’s moved heavily into gold, took a look at Formula 1, would they have interest, yes that’s a possibility, there may be others.
Something has led, at least to a number of people close to this to indicate to me that it is not just live, but it’s going quite well. It is expected to conclude in the not too distant future. A key here though remains McMahon’s real willingness to sell. Comcast, from my understanding, are not part of this sale process.”
— Squawk on the Street (@SquawkStreet) March 28, 2023