Entertainment

AMC May Possibly Buy WWE

| by Emily Smith

The internet is buzzing with a new rumor that AMC Networks, Inc., may be interested in buying World Wrestling Entertainment, Inc.

The first mention of a sale occurred on Thursday and was reported by British financial blog Betaville. According to the report, AMC has had at least one discussion with WWE and has sought advice from Swiss global financial services company UBS. The report also claimed that a transaction between the two would amount to approximately $2.8 billion.

Despite the rumor, it’s unlikely that WWE will sell out, considering it’s a family-owned business of five generations. In addition, WWE has already accumulated 300,000 subscribers since its recent unveiling in February and allegedly has plans to purchase Newcastle.

WWE also has plans to cash in on its new television contracts soon, which makes the rumor seem even less likely.

Whether the potential purchase is actually in the works, the rumors are benefitting WWE stock. At the first mention of a possible exchange, the stock saw a midday spike.

Sources: The Inquisitir, WhatCulture!