World Wrestling Entertainment (WWE) fell on Wednesday after briefly rising amid reports that Saudi Arabia’s Public Investment Fund (PIF) fund is buying the company.
A person familiar with the matter told Yahoo Finance that it did not sell itself to Saudi Arabia’s public investment fund or any other entity. Early reports on Wednesday, notably from DAZN’s Steven Muehlhausen, confirmed that a deal with PIF was very close. It was the original tweet. Canceled..
Sales Process – Started mid last week. Vince McMahon’s return to the board And after he stepped down as executive chairman amid allegations of sexual misconduct — he still remains, the person told Yahoo Finance. WWE is on the rise It is spread In recent years to the Saudi market.
WWE stock jumped as much as 7% after the initial reports, but sank after the company moved to quash the rumors. The stock is up more than 25% this year.
Late Tuesday, her co-star Stephanie McMahon — also the daughter of Vince McMahon — He left his job From her role. The company’s sole CEO is now Vince McMahon loyalist Nick Kahn.
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