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WWE News: WWE hints at the company being for sale

ANALYST
News
4.13K   //    12 Feb 2019, 11:37 IST

Vince McMahon
Vince McMahon

What's the story?

The WWE is one of the biggest and most well-known entertainment company in the world, raking in millions of dollars, with fans from around the world.

The Vince McMahon-led company has done wonders over the last decade or so, thanks to the growth of the WWE brand, but there could be a possibility that the company may be sold, according to WWE's own Vice President.

In case you didn't know...

The fourth quarter earnings of 2018 showed that WWE's revenue grew to $272.5 million, a 29% jump from the previous quarter, while the overall revenue for the year grew to $930.2 million, which is a record high for the company.

Also Read: WWE News: WWE reveals what will happen if Vince McMahon retires or dies

With the new Fox deal that is set to come to action later this year as well as the huge money from the Saudi Arabia shows, the promotions earnings are set to skyrocket.

The heart of the matter

While discussing the fourth quarter results and earnings, WWE's Vice President George Barrios was asked why companies like AT&T, or Disney hadn't yet bought Vince McMahon's promotion. The WWE Vice President didn't reveal a lot but said that WWE is "open for business" hinting

“They’re all smart, they’re all doing great things, I’m sure they’re going to be really successful. We’re happy with our strategy. I’ll quote our Founder, Chairman and CEO, who said we’re always open for business and speak to people about interesting ideas, but we’re going to keep doing what we’re doing," said WWE Vice President George Barrios.

A few years ago when asked about the company being sold, Vince McMahon had this to say: “We’re open to anything. I think controlling your own destiny is so important. I don’t know how much you lose control of that by being sold.”

What's next?

WWE will move to Fox in October, a deal which will see the blue brand move to Friday nights.

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