Kemo
02-09-2020, 03:28 AM
An update regarding WWE Chairman & CEO Vince McMahon’s decision to fire Co-Presidents George Barrios and Michelle Wilson has surfaced.
The news was made last week and WWE stock dropped as a result. Fast forward to Thursday’s WWE Q4 and Full-Year 2019 investors call, McMahon noted that the management transition came after careful consideration. He also stated that the decision was made on a “different view of execution of our areas of focus.”
Dave Meltzer reported in the latest edition of the Wrestling Observer Newsletter that McMahon and his former Co-Presidents wanted to do different things with the significant money that the company earned through their TV deals with FOX and the USA Network.
According to the report, Barrios and Wilson wanted to maximize WWE’s current profits in order to increase the stock price. Although McMahon wanted to do that as well, he also had plans that Wilson and Barrios did not agree with.
Those plans were to heavily invest the money such as spending big money to sign, keep and stockpile new talents. Also, he wants to create new regional brands in different markets just like they did in the UK with the WWE NXT UK brand.
It’s been rumored that WWE has considered NXT Japan, NXT Germany, NXT Australia, NXT Mexico, and NXT Canada for the future.
The idea behind these brands is for him to try to regain the “monopoly” of the pro wrestling business after the rise of mainly New Japan Pro Wrestling and AEW.
The news was made last week and WWE stock dropped as a result. Fast forward to Thursday’s WWE Q4 and Full-Year 2019 investors call, McMahon noted that the management transition came after careful consideration. He also stated that the decision was made on a “different view of execution of our areas of focus.”
Dave Meltzer reported in the latest edition of the Wrestling Observer Newsletter that McMahon and his former Co-Presidents wanted to do different things with the significant money that the company earned through their TV deals with FOX and the USA Network.
According to the report, Barrios and Wilson wanted to maximize WWE’s current profits in order to increase the stock price. Although McMahon wanted to do that as well, he also had plans that Wilson and Barrios did not agree with.
Those plans were to heavily invest the money such as spending big money to sign, keep and stockpile new talents. Also, he wants to create new regional brands in different markets just like they did in the UK with the WWE NXT UK brand.
It’s been rumored that WWE has considered NXT Japan, NXT Germany, NXT Australia, NXT Mexico, and NXT Canada for the future.
The idea behind these brands is for him to try to regain the “monopoly” of the pro wrestling business after the rise of mainly New Japan Pro Wrestling and AEW.