WWE buys back NBC stake

Author:
Publish date:
Social count:
0

According to Reuters, World Wrestling Entertainment Inc. said Monday that it
bought back NBC's 3 percent stake for $27.7 million, or
$12 per share.

NBC bought its stake in WWE in 2000, when the two companies
formed the now-defunct XFL football league, which was announced with much
fanfare but body-slammed by anemic ratings.

NBC's sale of its stake represents the final unwinding of the joint venture.

Related