World Wrestling Entertainment Inc. WWE on Thursday said it had retained advisers to handle legal, financial and communications matters to help the company weigh “strategic alternatives” amid a “rapidly evolving” media landscape. The professional-wrestling group said it had tapped The Raine Group as a financial advisor, Kirkland & Ellis LLP as legal advisor and August LLC as a strategic communications advisor. “WWE’s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalize on the significant value of our intellectual property,” Executive Chairman Vince McMahon said in a statement. The announcement came after McMahon was elected executive chairman of WWE’s board this week, and his daughter, co-CEO Stephanie McMahon, said she would resign from the company. Earlier this month, the Wall Street Journal reported that McMahon, who retired last year amid sexual-misconduct allegations, had returned to the company and would explore a sale of WWE. Shares rose 0.5% after hours on Thursday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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