glennsoe Posted April 3, 2023 Report Share Posted April 3, 2023 Not sure how I feel about this.. https://corporate.wwe.com/news/company-news/2023/04-03-2023 Link to comment Share on other sites More sharing options...
glennsoe Posted April 3, 2023 Author Report Share Posted April 3, 2023 Wonder what will happen to: The tape library The wwe network Wwe video games The talent The buyers will look at cutting costs before they can make money.. Link to comment Share on other sites More sharing options...
The Nerd Posted April 3, 2023 Report Share Posted April 3, 2023 Wonder if that’s why Roman went over ultimately. Link to comment Share on other sites More sharing options...
PaperThinWalls Posted April 3, 2023 Report Share Posted April 3, 2023 Link to comment Share on other sites More sharing options...
The Nerd Posted April 3, 2023 Report Share Posted April 3, 2023 Triple H will also remain in charge of creative. :)<3 Link to comment Share on other sites More sharing options...
RDJ Posted April 3, 2023 Report Share Posted April 3, 2023 Not sure how I feel about either. Apples and oranges. One show is full of athletes that entertain the other is a blood sport whose sole purpose is to get someone in an octagon and beat their brains in and permanently hurt some one. (I know that’s a for fetched description. ). But I’ve never liked UFC. We shall see. Link to comment Share on other sites More sharing options...
glennsoe Posted April 3, 2023 Author Report Share Posted April 3, 2023 More from pwinsider The deal will officially close in the second half of 2023. *Effectively, WWE and UFC will be run as separate entities owned by the same, new parent company. *Endeavor will own 51%. WWE stockholders will have their current stock transferred into 49% of ownership of the new company. *The new Board of Directors will have six members named by the Endeavor side, five by WWE. *WWE HQ in Stamford will remain, as will UFC's own front offices. *However, Endeavor will utilize their own staff for the "back office" for savings which likely means that there will be cuts and firing of employees determined to be redundent. So, if Endeavor's accountants can handle it, WWE won't need their own accounting office, for example. *Vince McMahon will be Executive Chairman of the Board for the new company. Given that McMahon just locked in a new two-year contract with WWE, they would have to financially reward him if the decision was made to remove him before the end of that term. *Ari Emanuel, owner of Endeavor will be Chief Executive Officer. *Nick Khan would continue on as President of WWE. *When the deal is finalized, Khan gets a $10 million bonus. *When the deal is finalized, Paul Levesque gets a $5 million bonus. *When the deal is finalized, WWE Chief Financial Officer Frank Riddick III gets a $5 million bonus. *WWE will go away on the stock exchange. The new company will trade as TKO. *There is an all hands on deck meeting for WWE staff at 4 PM EST. *If the deal is not done by January 2024, the two sides have the right to cancel the agreement Link to comment Share on other sites More sharing options...
glennsoe Posted April 3, 2023 Author Report Share Posted April 3, 2023 Even more from pwinsider Obviously, the big move of the day, year and perhaps century when it comes to professional wrestling is that Endeavor is acquiring WWE and will form a new company that will house both WWE and MMA giant UFC going forward. In speaking to a LOT of people within WWE over the last 90-minutes since I returned from Los Angeles and landed in New York City, we are told that while there were a lot of bidders, at the end of the day, a major factor in why Vince McMahon went with Endeavor acquiring the company is that he and Endeavor head Ari Emanuel go back 22+ plus years. There is a great level of familiarity with each side. One source described it as each knowing the "shorthand" of the other and that it was very much "the devil you know" in that there was a great understanding of what each side and each personality brings to the table as opposed to starting off scratch with a new entity that might not understand what the WWE product brings to the table, why and how it works and that with Emanuel and Endeavor, there's no fear of someone coming in to try and "reshape the wheel." In terms of timing of how this all went down, we are told that over the last week, the two sides really began clicking in terms of the sale and late last week, Endeavor shot ahead of the pack as the two sides locked in plans. Emanuel had previously downplayed the idea of buying WWE, so he either had a change of heart, or perhaps more likely knowing his deal making abilities, was trying to prevent other suitors from knowing his interest to prevent a bidding war from emerging. There was a feeling on the WWE side that given their success with growing UFC since acquiring the company, that Endeavor would likely be able to "supercharge" the WWE Intellectual Property. Endeavor is not only a major force in Hollywood and can help WWE tap even deeper into that DNA, but have lots of other holdings and properties that WWE can use to their advantage, including hospitality and live events company On Location, different sports franchises, film financing and sales companies and more. Endeavor has the clout and the power to ascend WWE upwards and grow their overall footprint - and WWE management (read: Vince McMahon) felt that Endeavor could do for WWE exactly what it did for UFC. The belief was that Endeavor will grow WWE and lift it upward - and that was a far better home for WWE as a property and for shareholders than just handing it off to a larger company where it would become just one of many assets on a financial ledger. The feeling was that Endeavor would show the brand and the company the proper respect. One has to believe that Vince McMahon retaining power in the new company was a great perk for McMahon personally as well. He went from being on the outs of the company he built to returning and staying in a major executive role. Whether you like McMahon or not, you have to admit he returned, gamed the system to his advantage and landed in as strong a position possible in a company he once exiled himself from. We are also told that a big part of the decision was also that Endeavor, while owning UFC, allows that company to pretty much run with autonomy. All signs are that it will operate WWE the same way. The WWE creative team, the production team, etc. will likely all remain in place and operate the way they have previously for the most part and WWE will have the opportunity to succeed on its own terms without major interference. WWE will remain headquartered in Stamford (and might even finally get to move into their new HQ!) and those in the company were steadfast in their defense that the product that fans grew up on and watch today will not change - and that the WWE product fans enjoyed (or didn't, choose your own adventure) over Wrestlemania 39 weekend will still exist as it always has moving forward. Obviously this is a developing story and there will be some integrations that will be worked out over time as the deal is finalized, but for those wondering why Endeavor and what this means for the day to day WWE business, WWE's side is presenting it as business as usual with no major changes to the product or the major processes that bring that product to life. Whether that changes down the line remains to be seen but the WWE corporate circle is presenting this as a major victory and celebratory moment for the brand and obviously, for themselves Link to comment Share on other sites More sharing options...
CROSS-Out Posted April 3, 2023 Report Share Posted April 3, 2023 7 hours ago, PaperThinWalls said: Be warned, he has said this before; after he appointed Heyman and Bischoff to head creative on Raw and Smackdown. It lasted all of a few months. Link to comment Share on other sites More sharing options...
Austin3035 Posted April 4, 2023 Report Share Posted April 4, 2023 he may be in charge but really it endeavor who really has a final say in stuff it too soon to say who or what will happen but im excited see what route they take Link to comment Share on other sites More sharing options...
Generations Posted April 5, 2023 Report Share Posted April 5, 2023 We really live in an era of wealthy white dudes ruining everything around them just for the sake of ego. I mean...I know the world is basically built on this structure (and always has been)...but, the current crop of offenders is particularly difficult to stomach. Between Vince, Trump, and Musk...I've had about all I can handle of annoying bullshit for one lifetime. It would be really nice if Endeavor lets Vince run for a while and then sees that the product was produced unequivocally better under HHH. That would be the ultimate sendoff for Vince, to be replaced for being undesirable. Will it happen? No. But, it would be an amazing thing to see. If anything, things might get REALLY bad in WWE, RREALLY quickly. - Obviously UFC is not a product for children...and for that reason, I could honestly see Endeavor pushing WWE to be more kid friendly, while keeping UFC more adult oriented. I just have a really bad feeling about everything after this sale. Vince is a goddamn terrorist. Link to comment Share on other sites More sharing options...
Exorcism Posted April 7, 2023 Report Share Posted April 7, 2023 They also might make WWE more edgy. It could go either way at this point, though I don’t know how WWE would affect UFC, in Endeavor’s mind (I know WWE and UFC will be run as separate brands). If UFC is adult oriented and WWE becomes super kid friendly, Endeavor might see that WWE is affecting UFC’s reputation. If they were to do crossovers, I’d imagine they’d want a more unified target audience. Of course, WWE would have to adopt UFC’s sponsors if it were to go in a more TV-14 direction. UFC is TV-14. It was strange seeing alcohol sponsored like that on Night 2. I don’t think WWE ever went all out like that after going PG. In this new company, Ari Emanuel sits at top as CEO while VKM is number 2 as Executive Chairman. Dana White ranks below Vince, from what I’ve read. Link to comment Share on other sites More sharing options...
Generations Posted April 19, 2023 Report Share Posted April 19, 2023 New reports say WWE will be aggressively cutting costs now. - Not sure who expected anything less, with how much the parent company threw at buying them. Now we have a new set of owners who want to start making money as quickly as possible and are willing to cut corners to get it. Great. Link to comment Share on other sites More sharing options...
PaperThinWalls Posted April 19, 2023 Report Share Posted April 19, 2023 I thought they were cutting office jobs that were redundant? Link to comment Share on other sites More sharing options...
Generations Posted April 19, 2023 Report Share Posted April 19, 2023 7 minutes ago, PaperThinWalls said: I thought they were cutting office jobs that were redundant? Will be part of it, sure. We'll see how far it extends. Link to comment Share on other sites More sharing options...
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