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WWE stocks bodyslammed, Vince McMahon no longer a billionaire
Toronto Sun ^ | May 16, 2014 | QMI Agency

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.


TOPICS: Business/Economy
KEYWORDS:

1 posted on 05/16/2014 7:22:09 PM PDT by rickmichaels
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To: rickmichaels

Well, maybe Linda McMahon will stop throwing her money away on Connecticut politics.


2 posted on 05/16/2014 7:24:23 PM PDT by Dr. Sivana ("I'm a Contra" -- President Ronald Reagan)
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To: rickmichaels

Oh to live in a world where a 50% increase is seen as a failure...


3 posted on 05/16/2014 7:24:57 PM PDT by Yo-Yo (Is the /sarc tag really necessary?)
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To: rickmichaels
McMahon reportedly lost $350 million in two days

That qualifies as a bad week.

/johnny

4 posted on 05/16/2014 7:32:22 PM PDT by JRandomFreeper (Gone Galt)
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To: rickmichaels

I’m sorry but I don’t see how anyone could watch that WWE crap for more than 30 seconds.


5 posted on 05/16/2014 7:32:53 PM PDT by strider44
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To: strider44

Agree! Just remove that Krap and the NBA from my TV!


6 posted on 05/16/2014 7:47:44 PM PDT by Red_Devil 232 ((VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!))
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To: rickmichaels

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.


7 posted on 05/16/2014 8:03:47 PM PDT by july4thfreedomfoundation (I don't want to feel "safe." I want to feel FREE!)
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To: rickmichaels
McMahon reportedly lost $350 million in two days and is now estimated to be worth $750 million.

Three quarters of a billion dollars - good grief. Got to admire this guy's business acumen - he turns a regional pro wrestling organization into a nation-wide multi-million dollar operation and even know, some 30 years later he's hanging in there against hot newcomers competing for the same audience like the MMA. McMahon might be obnoxious, but he knows what he's doing.
8 posted on 05/16/2014 8:07:30 PM PDT by AnotherUnixGeek
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To: strider44
30 seconds

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.

9 posted on 05/16/2014 8:10:35 PM PDT by Hardastarboard (Please excuse the potholes in this tagline. Social programs have to take priority in our funding.)
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To: rickmichaels

Hope they go broke and quit screwing up Monday night TV!


10 posted on 05/16/2014 8:14:55 PM PDT by dalereed
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To: rickmichaels
Identify please--WWE?

vaudine

11 posted on 05/16/2014 8:24:16 PM PDT by vaudine
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To: vaudine

World Wrestling Entertainment- Producers of “Monday Night RAW” professional wrestling.


12 posted on 05/16/2014 8:26:36 PM PDT by hoagy62 ("Tyranny, like hell, is not easily conquered..."-Thomas Paine. 1776)
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To: strider44
I’m sorry but I don’t see how anyone could watch that WWE crap for more than 30 seconds.

When compared to everything else on TV, the WWE is actually an upgrade.

13 posted on 05/16/2014 9:00:40 PM PDT by The Iceman Cometh (Proud Teabagging Barbarian Terrorist Hobbit Crazy Cracker Son-of-a-Bitch!)
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To: The Iceman Cometh
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.

14 posted on 05/16/2014 9:03:05 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: usconservative
And you don't have the gay agenda bull crammed down your throat.

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.

15 posted on 05/16/2014 9:43:56 PM PDT by j. earl carter
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To: j. earl carter

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”


16 posted on 05/16/2014 10:16:19 PM PDT by stylin19a (Obama ----> Fredo smart)
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To: rickmichaels

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.


17 posted on 05/16/2014 10:59:47 PM PDT by rwoodward ("god, guns and more ammo")
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To: rickmichaels

Yooooou’re fiiiiiiiirrrrred!


18 posted on 05/17/2014 3:57:44 AM PDT by BinaryBoy ("Immigration Reform" is ballot stuffing)
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To: j. earl carter
(Adrian Adonis)

That was part of his schtick. Adonis wasn't gay --- he was "flamboyant."

19 posted on 05/17/2014 4:46:11 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: The Iceman Cometh
When compared to everything else on TV, the WWE is actually an upgrade.

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 ____?"

20 posted on 05/17/2014 5:05:56 AM PDT by southern rock
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To: j. earl carter
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.

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.

21 posted on 05/17/2014 5:09:02 AM PDT by GreenHornet
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To: southern rock
C'mon. You're not playing along with the "I'm culturally superior" game. You've been on FR long enough.

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.

22 posted on 05/17/2014 8:33:38 AM PDT by The Iceman Cometh (Proud Teabagging Barbarian Terrorist Hobbit Crazy Cracker Son-of-a-Bitch!)
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To: The Iceman Cometh

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.


23 posted on 05/17/2014 9:44:56 AM PDT by southern rock
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To: rickmichaels

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.


24 posted on 05/17/2014 10:06:41 AM PDT by buffaloguy
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