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Post by Dustin on Jan 6, 2023 17:11:01 GMT -5
Vince and WWE both literally said as much. "An opportunity to maximize long-term value to shareholders" is corporate-speak for "selling the company." Haha, fair enough. I imagine if that is the case, a network will just end up buying them out and stripping things down to only those things that specifically make them money. They will become content rather than a company. I haven't enjoyed BW since pre-Fiend. |
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Post by Dustin on Jan 6, 2023 18:58:36 GMT -5
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Post by natureboi on Jan 6, 2023 22:45:02 GMT -5
So much for Gargano's push! 😉
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Post by jimsteel on Jan 7, 2023 11:23:06 GMT -5
Former WWE Chairman and CEO Vince McMahon claimed he wanted to return to the company by being reinstated on WWE’s Board of Directors for two reasons.
Those reasons were to help secure new TV rights deals for Raw and SmackDown ahead of those contracts expiring in September 2024 and look for potential bidders interested in buying the company.
This morning, Alex Sherman of CNBC reported that “WWE has hired JPMorgan to help the company advise on a potential sale.”
The report added, “If a deal occurs, it would likely occur in the next three to six months, said the people, who asked not to be named because the discussions are private. WWE plans to talk to potential buyers before it makes a decision on TV rights renewal agreements.”
The article noted three categories of likely buyers for WWE - legacy media companies, streamers, and entertainment holding companies. The article speculated companies such as Comcast (NBCU’s parent company), Netflix, Amazon, Endeavor Group Holdings (UFC’s parent company), Warner Bros. Discovery (TNT & TBS’ parent company), Disney, and FOX could be potential buyers.
McMahon stepped away from the company last July after the Wall Street Journal reported on his sexual harassment and assault allegations. However, McMahon later felt that he was given bad advice to step down from his duties in WWE.
McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, previously told WWE’s Board in a letter last month that he believes there is a narrow window to kick off the sale process because they are about to enter negotiations for their next media rights deal.
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Post by on_the_edge on Jan 7, 2023 15:37:46 GMT -5
Oh, I hope it is Disney. That would be the final nail in the coffin. In reality I would love to see WWE get better but at this point I just do not see it happening. I think the company fading would open for AEW/ROH and maybe even Impact to grow and expand. I think getting them out from under the shadow of WWE would help make that happen. Perhaps even NWA could become important again.
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Post by TTX on Jan 7, 2023 16:53:43 GMT -5
If the WWE were to go, though some of the feds might expand a bit, it would mean a lot of wrestlers losing their jobs and that's never a thing I want to see.
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Post by on_the_edge on Jan 7, 2023 17:54:56 GMT -5
If the WWE were to go, though some of the feds might expand a bit, it would mean a lot of wrestlers losing their jobs and that's never a thing I want to see. That is true but it is a question of who does. I mean there are some that might be hanging on longer than they should. Also, guys in the indies who might have a job simply to fill a roster spot. I do not want to see anyone lose a job but that is how life goes sometimes. I mean billion-dollar company Amazon just announced they would be cutting a lot of jobs simply because the bottom line was not as high as they wanted. |
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Post by Dustin on Jan 7, 2023 17:59:10 GMT -5
I'm with Troy on this.
While I'm here, TK's tweet about everyone being nice to him now really bothered me, continuing to keep me from enjoying AEW even further.
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Post by jimsteel on Jan 11, 2023 17:03:12 GMT -5
Vince McMahon is facing investor litigation over claims that he pushed aside the WWE Board of Directors by illegally installing himself as chairman.
McMahon previously resigned from the company last July as chairman and CEO in the face of allegations that he had paid $12 million over several years to keep quiet sexual harassment accusations by several women.
As previously reported, McMahon told the Board of Directors in late December that he wouldn’t approve any potential sale of the company nor the media rights deals if he wasn’t brought back to the Board. In a response, the Board unanimously voted that they didn't want McMahon to return.
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Post by on_the_edge on Jan 11, 2023 17:31:47 GMT -5
Looks like someone is looking to join McMahon's "Kiss My Ass" Club.
Sadly McMahon is learning he cannot run a real business like he did his family owned one.
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