(Reuters) – World Wrestling Entertainment said on Thursday it has retained bankruptcy and restructuring powerhouse Kirkland & Ellis LLP as its legal adviser related to its review of strategic alternatives for the company.
It has also retained The Raine Group LLC as financial advisor and August LLC as strategic communications adviser.
WWE shares gained 3% in extended trading.
The announcement comes days after the company elected Vince McMahon as the executive chairman of the media and entertainment company’s board and said co-chief executive officer and chairwoman Stephanie McMahon was stepping down.
Vince McMahon returned to WWE earlier this month and made some changes to the company’s board. At the time, WWE announced that it was launching a review to explore “strategic alternatives” for the company.
He had retired in July last year, as the company’s CEO and chairman, following an investigation into his alleged misconduct. Later, WWE said that it found some unrecorded expenses tied to Vince McMahon.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel and Rashmi Aich)
