WWE Retains Restructuring Specialists For Strategic Review

World Wrestling Entertainment Inc WWE has retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support its review of strategic options.
The company’s shares skyrocketed recently on reports about a deal with Saudi Arabia’s Public Investment Fund, which later turned out to be a rumor.
Last week, WWE board unanimously elected former CEO Vince McMahon as executive chairman.
Also, Stephanie McMahon resigned from her roles as chairwoman and co-CEO and Nick Khan was named CEO.
WWE has been scrutinized for doing business with Saudi Arabia in the past due to the country's poor human rights record.
"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, WWE's Founder and Executive Chairman.
Also Read: Vince McMahon Returns To WWE Board Despite Sexual Abuse Allegations: Here's Why
Price Action: WWE shares traded higher by 0.11% at $89.44 on the last check Friday.
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