Friday, June 14, 2024
NewsNick Khan Claims Vince McMahon Would Step Down After WWE Sale

Nick Khan Claims Vince McMahon Would Step Down After WWE Sale



On Thursday’s Q4 earnings call, WWE President Nick Khan was asked to shed light on the potential sale of WWE. The CEO of WWE replied that Vince McMahon would step down as Executive Chairman of the Board if it is in the best interest of shareholders, following a potential sale of the billion-dollar company.

You can check out some highlights from the call below:

On whether McMahon would step away if it was in shareholders’ best interest: “Yes. Without question. He’s declared it to the board. He’s declared it to us in management. It’s all about shareholder value. Obviously, he is a shareholder. So it’s not about what role he’ll have. It’s about maximizing that value opportunity.”

On what WWE is looking for in a potential transaction: “A partner that has more than simply deep pockets. So a partner that understands the media business, that’s in the media business, that understands how to further monetize the media business. [Also, a partner] that certainly understands our product, our intellectual property, what we’re doing with it, what can be done with it. Media rights, both domestically and internationally. We see the international growth opportunity is huge. So these are folks, in terms of choosing the right partner, these are all things that we’re going to be looking at in terms of who can accelerate our business. Again, what’s the best value for our shareholders?”

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