World Wrestling Entertainment rises on report of multiple suitors
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World Wrestling Entertainment (NYSE:WWE) is riding a bump higher Tuesday alongside a report that a "pretty hot and heavy" sales process is moving along with multiple suitors interested in the business.
It's a sales approach that should conclude in the not too distant future, CNBC's David Faber said Tuesday morning.
There are a number of companies interested in a purchase, Faber said -- but not NBCUniversal/Comcast (CMCSA), though Peacock is an important distribution partner. That leaves some more typical suspects, he suggests, including private-equity buyers, Liberty Global (LBTYA), the Saudi Public Investment Fund, and Endeavor Group (EDR) -- though Endeavor has said they're not looking to acquire the company.
Jim Cramer noted "the teams are there" on subscription businesses and floated the Mouse House: "If I were Disney (DIS), I would just ..."
Ultimately, as before, any sale may come down to the degree of control that Executive Chairman Vince McMahon would retain or be willing to give up. McMahon indicated he was "100% open to a transaction where he's not included," CEO Nick Khan said last month.
WWE stock (WWE) was 1.7% higher after the report.