SeekingAlpha.com sent out a WWE alert this afternoon that says WWE stock spiked this afternoon in mid-day trading based on a rumor that AMC Networks is interested in buying WWE.
The rumors of AMC Networks being interested in purchasing WWE comes from the Betaville blog.
“Good sources tell me cable group AMC Networks has been sniffing around World Wrestling Entertainment Inc, the US-listed company behind those ridiculous wrestling programmes, such as WWF, Raw and Smackdown.
AMC Networks has held at least one exploratory conversation with WWE – which saw its shares rise by about 30pc during last week – about some kind M&A transaction in recent months, according to “people familiar with the matter”. However, the talks are understood to have not gone anywhere.
Another source said bankers from UBS have been advising AMC Networks, owner of Sundance TV, on a potential deal and financing options.
This well-placed source said any transaction may value WWE at between $2.6 and $2.8bn.”
Take this rumor for what it is….a rumor.
