A huge rumor is now circling the web that the AMC Network is interested in purchasing the WWE.
The possible sale of the wrestling network can be traced back to March 13, on a report by British financial blog, Betaville. According to the blog, the AMC Network had at least one conversation with the WWE recently, and have sought financial advising from UBS on how to make a purchase of this paramount magnitude. Additionally, the report also included a claim that any transaction between the WWE and the AMC Network would put the purchase price around an estimated $2.6 to $2.8 billion.
The internet is abuzz now with this rumor. The possibility of a show where wrestlers fight zombies seems like an enticing pitch. However, there is no solidity to this rumor whatsoever. First, the WWE is a family-owned business that is five generations strong. Right now, the large entertainment company is headed by Vince McMahon, the third-generation owner of the WWE. Not to mention, the position to capitalize on its popularity on a global brand is unlike ever before. The Inquisitr reported about two weeks ago that Vince McMahon was interested in purchasing Newcastle. This is a possible sign of expanding the WWE brand outside of the United States since Newcastle is located in Europe.
Also, according to The Examiner, the WWE Network unveiled itself on February 24, right after Monday Night Raw, to adequate success despite a few programming hiccups. With already 300,000 subscribers, this network is revolutionizing how fans watch wrestling programming, which includes WWE pay-per-views. Even ESPN personalities praised the WWE Network for what it has done, as reported here on The Inquisitr.
Also, their WWE app has been downloaded over 11 million times with their stock floating around $30 per share. To make this rumor even more ridiculous is that WWE is about to cash in on their new TV contracts within the next few months, coming away with a financially provocative deal.
The rumors are however benefiting the WWE, primarily their stock. According to Seeking Alpha, WWE stock saw a mid-day spike following the rumors of the AMC Network expressing their interest to purchase them.
The AMC Network purchasing WWE is a very buzzworthy rumor right now. Either it proves itself true or untrue, one thing is exceptionally clear: WWE is benefiting extremely well from it.
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