Skip to comments.WWE stocks bodyslammed, Vince McMahon no longer a billionaire
Posted on 05/16/2014 7:22:09 PM PDT by rickmichaels
The WWE suffered a vicious beating outside the squared circle.
A new multi-year TV deal between WWE and NBCUniversal, announced Thursday, failed to impress investors as shares in the company's stock plunged at market's close on Friday.
Investors expected WWE CEO Vince McMahon to sign a deal that would have at least doubled or even tripled the company's rights fees, but instead negotiated a 50% increase.
McMahon reportedly lost $350 million in two days and is now estimated to be worth $750 million.
"The company's valuation could take a heavy beating (Friday) morning, as the new domestic TV deal with NBCUniversal likely disappointed investors," Forbes quoted analyst Mike Hickey's report, which downgraded the company's stock from $29.12 to $19.96.
In addition, the company launched the live streaming WWE Network on Feb. 24 and currently has 667,000 subscribers, far short of the estimated 1.3 million to 1.5 million viewers needed to offset losses to their pay-per-view model.
McMahon first became a billionaire in 2000 before WWE stock dropped a year later. The company's stock didn't fully recover until January of this year, vaulting McMahon to billionaire status for a second time before this latest stock collapse.
Well, maybe Linda McMahon will stop throwing her money away on Connecticut politics.
Oh to live in a world where a 50% increase is seen as a failure...
That qualifies as a bad week.
I’m sorry but I don’t see how anyone could watch that WWE crap for more than 30 seconds.
Agree! Just remove that Krap and the NBA from my TV!
I don’t think he’ll be having yard sales anytime soon in order to make ends meet. $750 million is a sizeable chunk of change.
29.5 seconds more than I've been able to last. WWE reminds me of a Democrat National Convention, but without as much fake crap as the Democrats.
Hope they go broke and quit screwing up Monday night TV!
World Wrestling Entertainment- Producers of “Monday Night RAW” professional wrestling.
When compared to everything else on TV, the WWE is actually an upgrade.
And you don't have the gay agenda bullshit crammed down your throat (ahem....) either.
What with the celebrations for the first openly homosexual basketball, football, etc. player, it is a real insult to the WWWF/WWF/WWE as they had an openly homosexual wrestler back in the 80's (Adrian Adonis). They were way ahead of the curve on this one. I can't understand why the gay agenda crowd doesn't recognize this accomplishment.
I’m pretty sure Adonis being gay was a story line. He had a wife and kids.
He had gotten fat and couldn’t get work. McMahon was looking for a “gay” character and Adonis was willing to do anything.
Viola...”The Flower Shop”
I stopped watching them after they joined the RINO establishment club and started body slamming the tea party. Sports and Politics are not a good mix. You will lose half your fans one direction or another.
That was part of his schtick. Adonis wasn't gay --- he was "flamboyant."
C'mon. You're not playing along with the "I'm culturally superior" game. You've been on FR long enough.
First there is a thread about some TV show, celebrity, or other pop culture. Then the frst Freeper posts. "I've never seen it". They are then raised by, "how could ANYONE watch that?", not to be outdown by the obligatory, "What's ____?"
Adonis wasn't actually gay, but played a gay wrestler on the programs. As someone else here pointed out, at that point in his career, Adonis was out of shape and on the down side of his career. He agreed to the gimmick in order to keep working. His character was constantly mocked and ridiculed, so I don't think the Gaystopo would be too pleased about this "accomplishment." Unfortunately, Adrian Adonis died in a car accident not long after leaving the WWF.
Not sure I understand your point, however my point is that amongst the cultural wasteland know as TV, the WWE ain't that bad.
I'm actually a cable cutter so I don't have any TV service other than rabbit ears, Netflix, Hulu & Amazon Prime.
My point was simply that there are a lot of freepers who feel superior by claiming they have never seen or heard of something pop culture related.
McMahon will be back in the billionaire club in a year or so. For those who like this stuff his company produces consistently excellent entertainment. I am not one of them but I do recognize a quality product when I see it.
Vince seems to really understand his customer base, far better than most CEOs. Kudos to him.