WHAT WWE TOLD EMPLOYEES ABOUT THE RETURN OF VINCE, POTENTIAL SALE, POSSIBILITY OF COMPANY GOING PRIVATE AGAIN AND MORE
By
Mike Johnson on 2023-01-06 16:00:00
WWE held an "all hands on deck" meeting this afternoon in the wake of the announcement that Vince McMahon had maneuvered himself back onto the company's Board of Directors.
The meeting was held for employees of the company, not talents. Nick Khan and Stephanie McMahon were leading the meeting.
While the meeting was originally set for 3:30 PM, it was pushed back to 3:45 PM and ran for about ten minutes.
Highlights from the meeting:
*They officially announced Vince McMahon was back on the Board of Directors.
*They reiterated that there would be no changes to management or their responsibilities at this time. So, Paul Levesque, Stephanie McMahon, Nick Khan, Frank Riddick III (who was also on the call), etc. would remain in place in their current positions and jobs.
*It was also pushed that the move was a big positive and made to give the company everything they needed to make the most of their future rights revenue sales (i.e. new deals for Raw, Smackdown, etc.) as well as to gauge the market for potential sale of the company with the idea that with Vince McMahon back, the entire company would all be on the same page in maximizing WWE's potential leading into the future.
*The idea is they would be looking at potential sale offers ahead of any rights negotiations, in case that would be a greater benefit (i.e. more lucrative financially) than another round of just selling TV rights - but it was also greatly emphasized that a sale may not happen and it should not be assumed it would. The final say in all of this would go to Vince McMahon as the controlling shareholder.
*It was also mentioned that a "possible avenue" for the company could be for it to be taken private again if it was "the best outcome for shareholders." This was mentioned among potential strategic options, not that it was something they WILL be doing.
*It was described to us as very much a rah rah meeting to try and raise the spirits of the troops.
*They did not take any employee questions.
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