Earlier today, SeekingAlpha.com sent out an alert noting that the WWE stock saw a mid-day spike following rumors of the AMC Network expressing interest in purchasing WWE.
The rumor comes from a blog posted over at Betaville123.co.uk, and the following is an excerpt.
You can read the blog in full by clicking on the above link.
"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."