Stamford, Connecticut, January 12, 2023 – WWE (NYSE: WWE) today announced that it has hired The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support WWE’s executive team and board of directors Did. A review of strategic alternatives to maximize value for all his WWE shareholders and other stakeholders.
WWE Founder and Chairman Vince McMahon said: our intellectual property. I am confident that our distinguished directors, outside advisors and management team will provide valuable expertise and advice to help guide our company through this important process, and our management team and employees Base continues to deliver the results and content fans love. “
No guarantees can be made regarding the outcome or timing of the strategic alternatives review process. WWE will not be making any further comment until the process is complete or the Company determines that further disclosure is appropriate or necessary.
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About WWE
WWE (NYSE: WWE), a publicly traded company, is an integrated media organization and a recognized leader in global entertainment. Our company consists of a portfolio of businesses that create and distribute original content to audiences around the world 52 weeks a year. WWE is committed to family entertainment across television programming, premium live events, digital media and publishing platforms. His TVPG programming for WWE is available in 30 languages in his over 1 billion homes around the world through world-class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library, currently available in over 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the only home of the WWE Network.
Additional information about WWE can be found at wwe.com and corporate.wwe.com.
contact address:
media:
Chris Legendil, WWE
203-352-8793
Chris.Legentil@wwecorp.com
Steven Goldberg/Bo Falgut, August
WWE@AugustCo.com
Investor:
Seth Zaslow
203-352-1026
Seth.Zaslow@wwecorp.com
Other inquiries:
Jeff Thyne/Christopher Donini, Rain
212-603-5586
WWE@raine.com
trademark: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. , recent management changes and the impact of recent changes to the board of directors (the “Board”), the timing and outcome of the company’s media rights negotiations, and the company’s review of strategic alternatives; Plans to amend our disclosure controls and procedures, and our internal controls over financial reporting, and any related or related regulatory, investigation or enforcement investigations, subpoenas or demands arising out of these matters. In addition, “may”, “will”, “could”, “predict”, “plan”, “continue”, “plan”, “intend”, “estimate”, The words “believe”, “expect”, “outlook”, “target”, “target”, “guidance” and similar expressions are intended to identify forward-looking statements, not all forward-looking statements. Forward-looking statements do not contain such language. These statements relate to possible future events and our plans, objectives, expectations and intentions and are not historical facts and therefore subject to known and unknown risks and uncertainties and our actual results. or other factors that may materialize performance. differ from expected future results or performance expressed or implied by forward-looking statements.
These forward-looking statements are subject to, but are not limited to, uncertainties related to the impact of the actions described herein. Mr. McMahon’s ability to ultimately control the operations of the Company through beneficial ownership of a majority of the Company’s Class B Common Stock. the complexity of our rights agreements across distribution mechanisms and geographic regions; Recent changes in the composition of the Board of Directors. Nick Kahn to assume the role of sole CEO of the Company. Recognition of the actions described herein by our management, shareholders, customers, people and partners. Reputational harm to the company’s relationships with its shareholders, customers, personnel and partners. It could have adverse financial and operational consequences. future financial and operating results, including, among other factors, our expectations for future financial results.
Such forward-looking statements are based on current information available and our current expectations, including beliefs and projections regarding future developments and the potential impact of such developments on us. increase. The following additional factors, among others, could cause actual results to differ materially from those contained in the forward-looking statements. our ability to enter into, maintain and renew (on attractive terms or otherwise) major sales and license agreements; Our review of strategic alternatives and their consequences. A rapidly evolving and competitive media environment. WWE Network; our and our business partners’ computer systems, content delivery and online operations; Privacy Norms and Regulations. The need to continue developing creative and entertaining programs and events. The need to retain and retain key performers. the popularity of our branded sports entertainment may decline; potential adverse changes in the regulatory environment and related private sector initiatives; the competitive, rapidly changing and increasingly fragmented nature of the markets in which we operate; Inability to compete effectively with competitors with significant financial resources or market presence. uncertainties associated with international markets, including potential disruptions and reputational risks; Failure to comply with applicable regulations will make it difficult or impossible to advertise and conduct your live event or other business. Our reliance on our intellectual property rights, our need to protect those rights, and the risk of infringing the intellectual property rights of others. Potential serious liability in case of accidents or injuries that occur during physically demanding events. Large public events and travel to and from such events. expansion, strategic investment and/or acquisition into new or complementary businesses; accounts receivable; construction and relocation of new leased corporate and media production headquarters; litigation and other actions, investigations or proceedings; Changes in tax laws in major jurisdictions. Our feature film business. inflationary pressures and changes in interest rates; debt, including convertible bonds; We may not be able to meet market expectations for our financial performance. Conflicts of interest between holders of our Class A common stock and Mr. McMahon, the controlling shareholder with beneficial ownership of a majority of our Class B common stock. Our Stock Repurchase Program. A significant number of our shares are eligible for sale by McMahons and the sale or recognition of the potential sale of those shares could cause our stock price to decline. Trading price volatility of Class A common stock. In addition, our dividends and share repurchases depend on many factors, including liquidity, historical and projected cash flows, strategic plans (including other uses of capital), financial results and conditions, and contractual and legal matters. depends on restrictions on the payment of dividends (including revolving credit facilities), general economic and competitive conditions and other factors that the Board may deem relevant;
Forward-looking statements made by us speak only as of the date they are made and are subject to change, and we undertake no obligation to update or revise them. Do not place undue reliance on these statements. Please refer to the documents we have filed or will file with the SEC for further information regarding the risks and uncertainties associated with our business. Annual Reports on Forms 10-K and 10-K/A and Quarterly Reports on Forms 10-Q/A and Form 10-Q in the “Management of Operations” and “Risk Factors” sections.
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