Is the empire crumbling before our eyes?

[sek69]

It does seem Vince's end game here is to pump up the value by getting another megabucks TV deal and then cashing out. His boy MBS was mentioned as someone interested in making a bid. Wouldn't it just be the perfect end to the McMahon Era of WWE to sell to the Saudis?

Also it had to have made Vince extra salty that after all those years of "only Vince can do this", not only did WWE not fall apart without him it got noticeably better when he left. 

[Johnny Sorrow]

Vince saw Top Dolla fuck up and that was it. " Fine, Paul! Do whatever ya want! I'm SELLING it to a HIGHER POWER! " 

[Robert S]

18 hours ago, Childs said:

Would you believe that if you were them?

Let me put it this way: I would not answer my phone for the next couple of weeks if I were Karl Anderson or Luke Gallows.

[NintendoLogic]

12 hours ago, sek69 said:

Also it had to have made Vince extra salty that after all those years of "only Vince can do this", not only did WWE not fall apart without him it got noticeably better when he left. 

Did it, though? The best thing going right now (the Bloodline/Sami storyline) began under Vince. The rest of the shows are mainly just boring with most of the excitement coming from surprise returns. I suppose that's an improvement over being completely nonsensical, but I don't know if it's a vast one. 

[Reel]

17 hours ago, sek69 said:

It does seem Vince's end game here is to pump up the value by getting another megabucks TV deal and then cashing out. 

Seems like the idea is to sell before the next TV deal. Fox, Comcast, Disney, and the streamers want to own the show, not be beholden to some rights deal with some other carrier, and even if the idea is to sell to the Saudi PIF, you want the networks in there driving up the bidding. 

[KawadaSmile]

6 hours ago, NintendoLogic said:

Did it, though? The best thing going right now (the Bloodline/Sami storyline) began under Vince. The rest of the shows are mainly just boring with most of the excitement coming from surprise returns. I suppose that's an improvement over being completely nonsensical, but I don't know if it's a vast one. 

Yup. The Bloodline has been carrying WWE for a while now. Like, I guess taking LA Knight away from a dumb gimmick and letting Tozawa do stuff, as well as calling up Legado is a plus, but then again, he brought back Karrion Kross, Bray Wyatt (AND BO DALLAS) and couldn't manage to mend things with Mercedez Moné. 

He's a fraud.

[sek69]

The announcers talk like normal humans now, angles aren't dropped after a week or two, shows aren't being torn up and re written hours  before shows. Yeah, WWE is still the McDonalds of pro wrestling, but at least now your Big Mac isn't being dragged through a crazy old man's buttcheeks. 

[Embrodak]

Honestly, NBC or Fox seem like the only rational buyers to me. If you’re going to be paying them rights fees, anyway, might as well just own the fucking thing and be making pure profit on the ads in 10 years or so.

 

However, given how many boomers (the last big audience of TV watchers) are going to die in the next 10-15 years, and how little juice there is in the wrestling business as a live event biz compared to its heyday, I can also see plenty of companies saying wrestling is on borrowed time and not worth sinking money into. The idea of the Saudis buying it is pretty entertaining and farcical, but as Brian Last pointed out, they may be the only idiots with the money *to* buy WWE that aren’t gonna look at the big financial picture and pooh-pooh it.

[Sweet Brown Koko]

Transcript of Friday’s WWE Employee Zoom Call via post wrestling.com

Link: https://www.postwrestling.com/2023/01/07/full-transcript-of-fridays-wwe-all-employee-meeting-revealed/

 

Stephanie McMahon (WWE Co-CEO): Vince McMahon is coming back to the board of directors. He has made it clear upon his return what he’s really most excited about is the media rights opportunity in front of us that we’ve all been discussing and tying that to a strategic alternative process. 

And we wanted to make sure we got with everyone as soon as possible so you were aware of this message and also so we can explain a little bit more about it. 

And hopefully, we can answer questions moving forward. This format doesn’t allow for it. But, Frank, I kick it to you. I’m not going to attempt to explain strategic alternatives. I’d do a very basic level. Frank has the details, so go ahead, Frank.

Frank Riddick (WWE President, Chief Financial Officer): Sure, so at a very high level, what Vince has proposed and the process that would be followed would be to engage with a banker and prepare some background information on the company and present that to various potential partners for the company to evaluate whether there are any strategic transactions that would enhance the value of the company to all constituencies, including shareholders. 

And the idea is, as Steph said, the timing of this is largely driven around the upcoming media rights renewal and to do something that could enhance, in addition, those renewal discussions. 

So that would include — when we say “strategic initiatives”, “strategic alternatives” for the company — could include a broad range of potential transactions, everything from a combination with another company, an acquisition of the company by someone, or a take-private transaction, taking the company private and/or just simply some sort of cooperation joint venture agreement. 

So it’s pretty broad and I just would add a couple of things to that. One is, of course, there’s no assurance that any transaction will actually happen or any transaction will be forthcoming that makes economic and strategic sense for the company. 

And, of course, Vince is the controlling shareholder and controls the vote of the stock of the company is the ultimate decider as to whether there’s a transaction that can happen. 

So just to close out, all this from Nick and Steph and my perspective is very positive for the company. It’s a great time to look at alternatives and make sure that the company is well-positioned for the future. 

I think as everybody is aware, there’s a lot of changes that have happened in the media landscape in the last couple of years, even in the last six months. And there’s probably from a value of content perspective never a better time in history for the company to look at something like this. 

So hopefully that gives you a better perception of what that means.

Stephanie McMahon: Thanks, Frank. And then, Nick, how does that work as it’s tied to media rights and why is that a great strategic opportunity for us?

Nick Khan (WWE Co-CEO): Thanks, Steph, so these things work hand-in-hand with one another. For example, since our U.S. media rights are up in October of ‘24, for any conglomerate — so think Disney, Comcast, Netflix, etcetera — any conglomerate that might be interested in WWE would be interested in purchasing the company outright. 

They very well may be interested in doing a media rights deal, but obviously, we couldn’t do a media rights deal, let’s say, with Comcast and then go sell to Disney. 

Those sort of companies would want to make some sort of acquisition prior to those media rights being up. So the timing is spot on for that. 

In terms of the day-to-day of the company, nothing is changing. Steph is in her role, I’m in my role, Frank’s in his role, Paul is in his role, Kevin Dunn is in his role. 

And we would ask everyone to stay focused on the business as hand [sic]. We’re going to engage in this process. We’re going to look at it with open eyes and open hearts. 

We’re going to ultimately see what’s out there. And Vince will make his decision, as Frank said, as the controlling shareholder, as to what he wants to do with the company. For now, let’s focus on business as hand, if we could.

 Stephanie McMahon: Great, thanks, Nick. This feels so formal since none of us are in the same room. 

And I just wanted to add also, rejoining the board is Michelle Wilson and George Barrios, who for those of you who were here remember them as co-presidents. 

They have so many years of experience here in WWE. And they’ve now been off on their own creating their own business and have a lot to offer from a media standpoint, certainly from an M&A standpoint. 

So they will be — and they’re very familiar with the company — so they will be joining the board, not management, as Nick was spelling out. 

So again the management structure stays the same, but Vince has joined the board, and obviously, as the controlling shareholder. 

And again, I just wanted to wrap up with reinforcing, a) there may have been a lag on this video, so just to let you know it has been recorded and will be shared if you missed anything; b) when Frank talks about how well-positioned WWE is and our performance, the reason why we’re doing so well is, again, because of all of you, because of our employees, who bring everything that they have to table every single day. 

And we’re just, we’re grateful, we’re appreciative, and we want you to know that our employees are incredibly important to us, and we recognize all of your contributions, and you will be well-informed throughout this process. 

We don’t want there to be — obviously there’s going to be some animosity — or not animosity, angst, natural emotions that you might feel, and we want to make sure that we’re on top of this and we’re communicating with you and everyone has all the information that they need. 

So again thank you to all of you. This is an exciting time. It shouldn’t be a scary time. It’s an exciting time for WWE. Our founder is back on the board and is going to help lead this process. And thank you to all of you. It’s an exciting way to kick-off 2023.

[El-P]

Happy new year WWE Universe.

Bwahahahahahahahahahahahaahahahahahahaahahahahahahahahahahahahahahahahahahahahahahhahahahahaha.........................................................................

[sek69]

Yeah that just seems to just cement that Vince is just back to maximize his cash out and not really interested in running the day to day shit. Which at his age, why would he? I know he's a legendary workaholic, but he's 77 and got a taste of not having to be awake for a week straight coming up with a mid show segment for Raw. 

 

(having said this, I realize this is Vince and I wouldn't be surprised if tonight's show is jus him jerking off in the ring for three hours)

[SirEdger]

Call me paranoid but I remain highly skeptical that Vince's ultimate goal isn't to regain Creative power again. That's what he loves the most about this business. And his ego probably can't stand that WWE generated more buzz in the past 6 months with him out of Creative than the past 20 years he's been at the helm of it.

[DMJ]

I don't think its that crazy to think that Vince wants to both "cash out" and "take over."
 

Let's say he does strike a deal to sell to Fox - in this scenario, RAW somehow ends up on Fox Sports and the Network on Tubi or some shit - as Fox says, "Hey, we're already paying for SmackDown, let's just buy the whole company outright and put it across our channels/platforms." But really, it could be any major media group.

In this scenario, I'm not sure Vince doesn't also include - as part of the deal - some sort of reinstatement of himself in a top position. I don't think Vince sees himself as ready to retire and once this deal goes through, the only thing he'd potentially have any real power in would be the creative side. And while one could argue that Fox would want to insert its own person at the top, its not like with Star Wars or Marvel Studios even where literally everyone agreed that new directions were needed in the 2000s/2010s after things went off the rails a bit in the 90s/early 00s. With the WWE, Vince is still not just the "best" promoter in history, but in some ways, the only promoter that has mattered for 25 years now. The heirs apparent - Steph and Triple H - just got publicly put in their place as still being subservient to "the old man" with one single press release. Fox will let Vince do Vince as long as the money's coming in.

...and the WWE under Vince over the past few years, despite the pandemic, has wildly successful financially.  

[strobogo]

The idea of Vince being in charge but it no longer being his company seems completely antithetical to Vince McMahon's personality and vision. What makes more sense to me is that he wants to cash out and doesn't want to leave it to his family, of which he has publicly said he is disappointed in in regards to the business, fired his son, demoted HHH, and removed Stephanie from any creative position.

[SirEdger]

 

Doesn't look like Vince's hostile takeover is going as smoothly as he thought it would.

[sek69]

That's another reason I assumed Vince wouldn't want to get lost in the weeds doing creative shit, even in the best of circumstances it was going to be a fistfight taking back the BOD. 

[KawadaSmile]

oh my fucking god

here comes the money

[SirEdger]

The old fart will have gotten what he wanted.

Triple H is more than likely next on the list. And we're not even to the Rumble yet. That locker room morale just took a massive nosedive.

[El-P]

"It was me ! It was me all along !!" 

Wonder if they'll release a public statement with "Well, she actually did suck like we told you six months ago".

2023 is already the gift that keeps on giving.

[Strummer]

Holy shit. I mean this shouldn't be surprising but it still feels surreal. Yeah HHH is def. done. I can't imagine the roster now. Everyone but a few must want out

[El-P]

4 minutes ago, Strummer said:

I can't imagine the roster now.

Not to mention the guys in AEW who thought WWE was paved with Triple H's gold for them now.

Regal had the greatest timing ever too. Holy shit.

If I'm Jay White, no way I'm signing with them now (he's leaving NJPW soon, as expected with the stip for his match with Hikuleo), that bitch is tiny.

If Vince sells to the Saudis, I may never stop laughing.

[sek69]

Steph was going to step aside to take time off before all this Vince stuff happened and she got John Moxley'd into staying. Her deciding to leave doesn't necessarily mean the end of the world is ending for anyone else, she just might have reached the end of her rope with this BS and decided to walk away. 

[Jmare007]

Steph's letter:

 

"This is sooo great I can leave again!, and this time for good"

 

So Kevin Dunn and Bruce Pritchard replacing Triple H by May-June?

[sek69]

Big Daddy Nick is still staying as CEO, if he leaves then I think you can say everyone's fleeing the ship.

[Jmare007]

Nick Khan leaving would be a much bigger shock. He was brought in to sale the company and now that Vince is finally making it public he wants to sell, Khan leaves? That would be mindboggling.

Not saying it wont happen because 2023 will be a wild ass ride for WWE but it would be really unexpected.