REPORT: WWE has almost closed a deal with Disney
WWE has finally succeeded in their efforts to scout a perfect candidate for a sale of their business. The legal formalities are still ongoing and may take a while to put an official stamp.
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WWE is reportedly sold to Disney (Image Credits: Wrestling Headlines)
And here’s the breaking news to brighten up your afternoons. After a series of unmatured turmoils, WWE is 95% certain to be sold to Disney, per Xero News. This comes after two-day old rumors of WWE’ sale to the Public Investment Fund of Saudi Arabia. However, just to mention, PIF has more than 5 million shares is Disney.
As reported by Dave Meltzer earlier on, Nick Khan, the CEO of WWE, met with Disney CEO Bob Iger and ESPN President James Pitaro, this Monday. Khan visited the College Football game to discuss some business, and it seems like his meet went really well with Mr. Iger. As iterated by the aforementioned report, the stakeholders are being informed about the sale to Disney.
In addition, if the formalities do gets an official stamp, the existing lawsuits against Vince McMahon will be held temporarily. Once the sale is complete, they can reimpose their plea against Mr. McMahon, as he forcefully breached the by-laws and made himself the new Executive Chairman of WWE.
Related : Vince McMahon joined WWE only to put a final stamp on the proceedings of its Saudi deal
What this means to the future of WWE?
Well, the corporate changes in the administration are yet to be specified. It’s not clear whether Disney will force their say over the stakeholders in WWE. As of writing, Nick Khan is the Chief Executive Chairman and Paul Levesque aka Triple H retains his spot as the Chief Content Officer.
While Vince McMahon was unanimously appointed as the new Executive Chairman, he allegedly abused his voting powers to avail the position. As a result, a lawsuit has already been filed against the 77-year old. Time will narrate what the future holds for Mr. McMahon in this company.
Adding insane value to the board, William Regal has been given an official title in the company. He’s now a Vice President of Global Talent Development. Many fans believe that Hunter and Regal’s collective steps can drive WWE towards unimaginable success. Since Levesque took over as Creative lead, WWE witnessed increased fan interest.
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Vibhor Pal
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