No merger talks between WWE and AMC Networks

TheStreet.com took a look at the rumors of AMC Networks buying WWE from the McMahon family, a rumour which spiked the WWE shares on Thursday to a new all-time record of $31.98 for a few minutes.

According to a source close to the situation, TheStreet.com reports that the two companies are not in merger talks and it is “just a rumor” according to those with knowledge of the discussions.

A potential deal and bid would value WWE at around $2.8 billion although the likelihood of such a deal happening is close to zero since Vince McMahon controls the majority of the voting rights.

AMC is however in talks with WWE for television rights of RAW, Smackdown, and all the other television shows. Other companies that WWE approached were Viacom, FOX, Discovery, and Time Warner.

WWE stocks closed the week at 30.94, a 4% increase over Thursday’s closing.