Post by The Ultimate Nullifier on Jul 17, 2014 18:58:54 GMT -6
WWE stock is up to $12.65 at press time, or a 6.5% increase on the day, based on speculation that a major conglomerate may attempt to purchase controlling interest in the company according to several business sites incluiding Seeking Alpha and The Street.com.
This is based on consoldation of major media conglomerates with the talk that 21st Century Fox has made an offer to Time Warner.
The belief is the WWE Network could draw interest from a company looking to build a series of over-the-top networks.
WWE stock closed at $12.60 today on hype of a possible buyout which led to about five times as many shares as usual changing hands. It was up 72 cents for the day.