WWE News: Vince McMahon on a potential WWE sale
During the recent third quarter earnings investors call, an investor mentioned the sale of UFC to WME-IMG for $4 billion. Vince McMahon was asked about being open to selling the WWE. Vince responded by saying that they are open to anything because they are business people after all, but for them, it is important to be able to control their destiny.
Vince said that if the company were to be absorbed, he was unsure as to how much control over their own destiny they would have, and that they are currently focused on creating their own content. However, he did mention that he is open to listening to offers, especially ones which he can’t refuse.
When the same investor asked if they would sell the company if it meant being in control of their own destiny, the Chairman and CEO of WWE just said: “We’re open to business.”
Keeping in mind the sale of the UFC, it would not be impossible for WWE to be sold. The UFC went from $2 Million (at the time of initial purchase) to being sold for $4 Billion, making it one of the great sporting business stories. How much WWE can sell for, is to be seen, but there is no doubt that the figure would be in 10 digits.
Vince McMahon took over the reigns of the company (when it was called WWWF) from his father Vince McMahon Sr. in 1982. His strategy was far different from his father’s.
His father meant to keep it as a territory in New York, and not compete with others. Vince McMaon Jr., on the other hand, went with the ruthless approach, and after expanding and expanding, brought out every single bit of his competition, which led to the wrestling business becoming almost a monopoly.
Here is the conference call from around this time last year:
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