Body Slam Poor Returns with an Entertainment Giant
During the last 30 years, Vince McMahon has built professional “rasslin’” into a $2.3 billion entertainment behemoth: World Wrestling Entertainment Inc. (WWE). The stock sits at an all-time high today of almost $31 a share, buoyed in part by the company’s launch of its own subscription-based streaming network. It certainly seems like the sky’s the limit now for the leading name in “sports entertainment,” and WWE would be an extremely attractive takeover candidate for companies like Comcast Corp. or Madison Square Garden. At least that’s what analyst Robert Routh of National Alliance Capital Markets indicated recently: “WWE would be very attractive to many different types of buyers. What they’ve built can’t be recreated.” Even if the company isn’t acquired or bought outright, it certainly seems like McMahon’s promotional skills are still razor sharp, as WWE’s share price continues its championship reign.