Earlier this week, WWE made headlines after rumours the wrestling company had been sold to Saudi Arabia’s Public Investment Fund.
The internet was ablaze on Tuesday after Bodyslam and Dazn’s Steven Muehlhausen said the two sides had agreed in principle and that a deal was effectively done.
However, only 24 hours later — and after some confused and shocked social media reactions — it turned out to be untrue as MMA and wrestling journalist Ariel Helwani waded in. Muehlhausen later deleted his original tweet.
But with some recent major shake-ups in the company including the return of Vince McMahon and the departure of his daughter Stephanie, more changes may be on the way.
Here’s a look at everything we know so far.
Changes in upper management
The Wall Street Journal reported last week that Vince, the long-time chief executive and chairman of the company, would be returning. It comes almost six months after he resigned amid a misconduct scandal and then promptly retired in July.
In November, the company said a special committee had formed to look into the allegations, and then completed its investigation and has since been disbanded.
After Vince stepped down, Stephanie took over as the co-chief executive and chairwoman of WWE, while her husband Paul “Triple H” Levesque was promoted to chief content officer of the company.
But on Wednesday, days after her father’s return, Stephanie resigned from her role.
“I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders,” she said.
This now leaves Nick Khan as the new WWE chief executive, while Vince has elected himself, alongside two former co-presidents and directors, to the board. The report by The Wall Street Journal also suggests that Vince’s return is to help with media negotiations for next year but that it may also be tied to the possibility of exploring a sale of the company.
Working with The Raine Group
Besides the changes in leadership, the company has also been hiring outside groups that could help any sale over the finishing line.
On Thursday, a new release from the WWE announced The Raine Group had been brought in as its financial advisor, Kirkland & Ellis as its legal advisor and August LLC as its strategic communications advisor.
The Raine Group helped the UFC with its $4 billion sale in 2016 and has a history of brokering blockbuster deals. It also helped the sale of Chelsea last year for $5.2 billion and is currently overseeing Manchester United's possible sale.
So, with The Raine Group on board, it seems as though WWE is on the hunt for the right buyer.
Who could buy the WWE?
Disney
There’s been no word on whether Disney will bid for WWE, but it has long been suggested that a merger could make sense. It was reported that Khan met with Disney chief executive Bob Iger and ESPN president James Pitaro during a football game before the Saudi PIF rumours.
WWE shows could stream on the ESPN+ platform, helping to strengthen its programming. It also helps that WWE already airs on Disney+ Hotstar in the Philippines and Indonesia. Plus, Disney could use the company’s IP for theme parks, movies and more.
Comcast
Telecommunication company Comcast is also another possibility. WWE has an exclusive streaming and television deal in the US at the moment with NBCUniversal’s Peacock and USA Network, both owned by Comcast. The company has a stock market valuation of more than $160 billion, giving it plenty of firepower should it wish to launch a bid.
Fox
Although Fox seems less likely to purchase WWE due to its smaller market valuation of around $17 billion, it does have a TV deal in place for WWE’s Friday Night Smackdown. Fox sold most of its entertainment assets in a $71 billion sale to Disney in 2019 but could be a good place for WWE, with its sports and live-action programming.
Saudi Arabia
The WWE already has a lucrative 10-year deal with Saudi Arabia's government, with two major shows to be hosted annually in the kingdom until 2027. If the company were to sell to Saudi Arabia's sovereign fund, it would definitely shake things up. It was incorrectly reported that the Saudi PIF made a $6.5 billion offer for the WWE, which doesn’t seem that out of reach.
AEW
This seems less probable, but a report from CNBC quotes an anonymous source at AEW saying the upstart wrestling promotion’s owners Shahid and Tony Khan (no relation to WWE’s Nick Khan) would be interested in possibly merging with WWE. Shahid already owns the NFL’s Jacksonville Jaguars and the English Premier League's Fulham FC but it appears unlikely the WWE would want to merge with a competitor.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Mohammed bin Zayed Majlis
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A cheaper choice
Vanuatu: $130,000
Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.
Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.
Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.
Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
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The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
The%20specs
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The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
Mohammed bin Zayed Majlis
The five pillars of Islam
Background: Chemical Weapons
Results
STAGE
1 . Filippo Ganna (Ineos) - 0:13:56
2. Stefan Bissegger (Education-Nippo) - 0:00:14
3. Mikkel Bjerg (UAE Team Emirates) - 0:00:21
4. Tadej Pogacar (UAE Team Emirates) - 0:00:24
5. Luis Leon Sanchez (Astana) - 0:00:30
GENERAL CLASSIFICATION
1. Tadej Pogacar (UAE Team Emirates) - 4:00:05
2. Joao Almeida (QuickStep) - 0:00:05
3. Mattia Cattaneo (QuickStep) - 0:00:18
4. Chris Harper (Jumbo-Visma) - 0:00:33
5. Adam Yates (Ineos) - 0:00:39
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Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Fixtures
Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am
Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am
Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am
Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
MATCH INFO
Barcelona 4 (Suarez 27', Vidal 32', Dembele 35', Messi 78')
Sevilla 0
Red cards: Ronald Araujo, Ousmane Dembele (Barcelona)
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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KILLING OF QASSEM SULEIMANI
