Since taking over as Executive Chairman of WWE’s Board of Directors in January, Vince McMahon has been investigating the possibility of a WWE sale. He has also stated that he is returning to assist WWE with its next TV rights deal.
WWE currently has television contracts with NBCU to air RAW on the USA Network and SmackDown on FOX. The SmackDown deal was worth a billion dollars.
Since the news of a possible sale broke, various potential buyers have emerged, including Saudi Arabia, FOX, Endeavor, and NBCU.
FOX CEO Lachlan Murdoch mentioned WWE at a Morgan Stanley investor conference on Thursday. Although Murdoch did not indicate that FOX was in the running to buy WWE, he did say that if they do sell, they will find a good partner.
Concerning SmackDown TV rights, Murdoch stated that the decision to renew the SmackDown deal, which expires next year, with negotiations expected to begin later this year, will be determined by the performance of the company’s overall sports portfolio. For college football, FOX has broadcast agreements with the NFL, MLB, and the NCCA.
Murdoch said, “I don’t think it’s an evolution of the partnership. They have been great partners. They’ve been great partners throughout our relationship. If they ultimately sell the business, I hope the acquirer will be as great as they’ve been. I hope the management team stays intact there. They’ve done a tremendous job. From a rights point of view, we’re focused on their rights renewal. We’re ready. We haven’t engaged with them on the rights yet, we’re ready to engage with them when they ask and they’re ready. Ultimately, our appetite for renewal depends on what happens with the rest of our sports portfolio.”
You can listen to a clip of Murdoch’s comments and related tweets below:
Fox CEO Lachlan Murdoch on possible rights renewal for $WWE Smackdown, at the Morgan Stanley TMT conference today. $FOXA
"We haven't engaged with them on the rights yet. We're ready to engage with them when they ask." pic.twitter.com/HRsHkhzyir
— Brandon Thurston (@BrandonThurston) March 9, 2023
Fox CEO Murdoch: Appetite for WWE rights renewal may hinge on performance of overall sports portfolio
— Brian Steinberg (@bristei) March 9, 2023
