UPDATED: WWE Stock Spikes After Rumor of Buyout By AMC
Posted by Jeremy Thomas on 03.13.2014
The stock sees a rise...
UPDATE: According to PWInsider there's isn't believed to be anything to the rumor that AMC has had talks about buying WWE. As previously reported, CFO George Barrios mentioned just last week that they weren't in talks about any sort of merger and no one within the company is giving the rumor any credence.
ORIGINAL: WWE's stock saw a spike in trading in the middle of the day after a rumor hit of AMC Network expressing interest in buying the company. The rumor started at financial blog Betaville, which claimed that they had sources which said that AMC "has been sniffing around World Wrestling Entertainment Inc."
The site claims that AMC has had at least one conversation with WWE exploring the idea according to one source, with another source saying that UBS bankers have been advising AMC on potential deal and financing plans. The source says WWE would be valued at $2.6 billion and $2.8 billion.