yankeesman77
05-12-2007, 12:21 AM
WWE'S FUTURE INTERNATIONALLY, WHERE ECW STANDS & MUCH MORE
By: Mike Johnson @ 6:40:00 PM on 5/11/2007
World Wrestling Entertainment held their 2007 shareholders meeting today in Connecticut which included Vince McMahon addressing the shareholders and taking questions from those in attendance. Highlights included:
*McMahon said that the company has a good year but they are not satisfied, "nor should we ever be satisfied." He noted they were finally on a good calendar year and had a "decent year." McMahon said there were some things that they didn't do as well as they hoped, which happens in the entertainment business. He said that they will prevail and do well in the long run, which is what they are, a long-term company.
WWE FILMS, MCMAHON CLAIMS THE CONDEMNED WAS SABOTAGED
*A shareholder asked whether The Marine and The Condemned, as well as the WWE Films division have made money. McMahon said that the Kane film and the John Cena film made money but he didn't know if that "was necessarily the case yet" with The Condemned. McMahon said that Lion's Gate did a great job with everything on "See No Evil" except the marketing because it was the horror genre, feeling the genre sells itself. He then discussed The Marine's release via 20th Century Fox saying they were the opposite in terms of finding ways to market and promote the film, which is still doing well on DVD.
*In regard to The Condemned, McMahon said that "I won't make any excuses for a lack of performance, but I might on this case." He said that there are no excuses for not drawing or succeeding, but noted he has not called the head of Lion's Gate "for fear of what I might say or I might do." McMahon claimed it was "almost sabotage" for the film in that if you didn't watch WWE programming, you wouldn't know anything about it. He said that in terms of reaching out to the mass audience, WWE didn't have control. McMahon explained that normal distributors control everything but the film itself, from a marketing, advertising, poster, etc. aspect. He said that Lion's Gate worked reasonably well with the Kane film and treated WWE as if they had "stumbled upon this great film" and that the Condemned should be pushed and handled by their marketing department.
*McMahon noted that Lion's Gate tried to promote a film that "didn't have a star" saying that WWE were the only entity to push that it starred Steve Austin. McMahon said that a film has to 'star" someone and John Cena made a name starring in the Marine although the general movie audience might not have known who he was beforehand. He said Fox did a great job building Cena and marketing the film around him.. In comparison, The Condemned didn't utilize the Stone Cold Steve Austin brand and that when you look at the poster, you just see a bunch of people and nothing that really tells you anything about the story. He said that the 30 second commercials for the film featured Austin for only 10 seconds, while ads in the Latin markets focused on a female character, which made no sense. McMahon said that Vinnie Jones is a great performer, but scoffed at Lion's Gate giving Jones equal billing in comparison to everything Austin has accomplished.
*McMahon said that the Condemned's marketing confused the audience. He said haven't been given numbers for the film yet and Lion's Gate told them that it tested well, including unusually well among women. That said, they didn't spend any money to try and attract women into the film.
*McMahon commented, "They took our product and just destroyed it."
*McMahon also said that the R rating for the Condemned was a mistake and he's not sure WWE Films should be doing anything beyond PG-13. He said the mindset was to do something blood and guts oriented since Austin's character is a little more hardcore but in the future he doesn't want to do another R rated film.
*McMahon said that they are counting on DVD sales and said he doesn't know if the film will make money. International distribution is not considered one of Lion's Gate's strengths, so that isn't expected to help the film either.
*Overall, WWE "will be breaking even on all three films or making a little money." McMahon said that it's good exposure that allows their performers to be out before the public in a different light and that garners the company interest in a different way, which is successful. McMahon said the financial model they have for filmmaking makes it "very difficult" to lose money.
*McMahon said that WWE Films has a deal with Fox which is almost signed, but then said, "I'm not announcing the deal, but I guess maybe I am." He said that deal will include two theatrical releases and "any number of DVDs." McMahon said that they would like to keep that format of two theatrical films a year, but now is the time to go directly into home video. He said that Fox embraces them and wants to work with them and owns their own international distribution, as opposed to the "award winning marketing group" that Lion's Gate has. In regard to Lion's Gate, McMahon closed by saying, "Hopefully we'll never do business with them again, but I didn't just say that."
MMA AND BOXING IN WWE'S FUTURE?
*A shareholder noted that Vince's grandfather Jess McMahon promoted boxing in the past and that the company once promoted a Sugar Ray Leonard fight, then asked if boxing was something the company might be getting involved in boxing in the future. McMahon said they aren't interested in boxing, but have entertained the idea of MMA.
*McMahon said that some think MMA is a natural expansion for them, but it's tough to build an intellectual property and noted it's a sport. He said that if you have a fighter you build up as a brand once he gets knocked out, you are left with nothing. He said that MMA is everywhere right now and will burn out over time. He said that he doesn't know if it will have the long-running legacy of the boxing industry, using names like Sugar Ray Leonard as an example. He said that you can't own the fighters, so there's no intellectual properties to build and market.
*From a TV standpoint, McMahon said MMA is, "Everywhere, wherever they can possibly be on the air, they are." He said that the public is going to eventually say enough and that there are no big stars. He said they looked into it a lot, but it's not for them. He said the upside isn't there for boxing or MMA under WWE's auspices.
WHETHER THE XFL HAS HUMBLED & CHANGED WWE
*When a shareholder brought up the XFL and referred to it as a "humbling experience", McMahon responded, "Not really. It's tough to humble me."
*He then asked McMahon if the experience had changed him or the company. McMahon said that if they had the chance to do it again, he would. The XFL had a tremendous upside with intellectual properties for the teams and the league itself. He said that they had grand plans. McMahon said that if Dick Ebersol knew the NFL was going to leave NBC the following year, the XFL never would have ended. Once NBC backed out, their other programmers got overly cautious that they had a "tarnished league" and didn't want to be involved. McMahon said that NBC was literally a partner and when UPN backed out, it's tough to promote teams and cities with one cable outlet. He said it became a situation where they had to cut their losses and focus on something else that has a better chance of working. He said going up against the NFL odds was tough but he is still confident that it would have worked if NBC had stuck with them. The reality is that it hasn't humbled them but they would look at the reality of the upside and downside of everything and would do that today if they went back to the XFL, which they aren't going to do.
THE FUTURE FOR WWE'S BRANDS, DOMESTIC & INTERNATIONAL
*In regard to the three separate brands, McMahon said they have some injury issues right now, but they will continue the ebrand xtension. He noted that all PPVs will continue to be tri-branded so fans can see stars and champions from all three brands under one roof. McMahon said that theoretically, he would like it where none of the brands cross over in order to help build each of the three brands, but they have had "a rash of injuries of late and you have to adapt to that and use the intellectual property from one brand to the other" so one doesn't look superior to the other.
*When asked if having so many titles dilutes all of the championships, McMahon said he doesn't subscribe to that. He said that the more championship matches you have, the bigger bargain you get as a consumer, especially with their recent price increase. McMahon said you have to look at the long range but also have to try and give the most you can to the consumer. He said going forward they will be more "judicious" with championship bouts. He said that only after they put Backlash together did they realize how many title matches they had. He said you have to give the consumer enough but not enough to satiate them, and that's a balancing act they have with broadcasted shows as well.
*Noting that ECW's relaunch is about a year old, a shareholder asked McMahon if the brand has met his expectations. McMahon said that it hasn't lived up to his expectations but has met those of their broadcast partner. He said that when you take the concept of "what that brand was, it can't stay there; it was unsuccessful." McMahon says you have to take the brand and morph it to make it different but not that different. He said it is a slow evolving process and has a bright future but not as quick as he would like.
*When asked about WWE's discussed international expansion, McMahon said that they just got back from a successful international tour and recruited eight individuals to come to WWE and show their talents. McMahon said that over time, three brands might not be enough to cover the globe. McMahon noted that South America "is really about to open up and that's obviously a large continent with lots of people." He said that China is another market they want to break into and Linda McMahon is taking a trip there this July. McMahon said they are trying to establish contacts and commitments there and do some regional tours there to introduce and build them into a national force there. McMahon said there are so many places to go and the world will always adapt to the American performers. He said that WWE's product can't be replicated by anyone in the United States or internationally. He noted that America is often seen as the bad guys by other countries so WWE could adapt to that and give those audiences "someone to boo." McMahon said, "There are lots of opportunities and we intends to be on top of it when the time is right." Internationally, their revenues will one day equal or be better than domestic revenues, particularly once they break into China and South America.
WWE'S TV PRODUCT
*McMahon said WWE will be going to High-Definition within the next year and they have tested it. He said that the product looks amazing under that format but they don't want to be too far ahead of the curve because that costs you money, while being too far behind gives the impression you aren't on the cutting edge. McMahon said they feel they are dead on in terms of timing right now.
*McMahon noted there would be an event titled "Night of Champions" where every match is a championship match coming up.
*When asked if WWE would ever get involved and allow another brand, like the International Fight League, to promote on WWE programming, McMahon said it would not make sense to invest and promote in a brand they don't own, saying he doesn't play too well with others and would want to invest in something they are 100% behind and not something that would distract them from important matters. He said that they could help others and themselves with a project like that but it doesn't fit into their long-term vision.
*When asked for an update in a statement he made a few years back about wanting WWE to own its own WWE PPV channel in order to hasten getting revenue from the events, McMahon said that as time goes on, the way fans watch PPV will in all likelihood be through WWE.com (which he later corrected himself and said "digital"), as opposed to going through the middleman of a PPV provider. He said that the day of the current "Middle Man" is nearing an end, not just for WWE but for all products. He said they have to learn the balance of where you present your product. McMahon discussed technology such as his blackberry and said in the future, a consumer will be able to watch TV on their own handheld devices via digital media. He said WWE wants to be there at the right time and use that technology to increase their revenues.
*In regard to WWE 24/7, McMahon said the cable companies are delighted with it, but WWE hasn't put the energies behind it "that we should." McMahon said they have additional clearances to make and they don't want to put full creative forces behind it until they have a broad investment into the product. He said that they need to have creative programming that's exclusive there, hosts, etc. and it's on the drawing board as they continue to expand the Video on Demand product. When asked about possibility of doing a free weekend preview of 24/7, McMahon said that's up to the cable companies, but also noted they haven't done any real push for the 24/7 entity yet. He suggested that they can take someone like Ric Flair and promote on their TV that on 24/7 you can see a classic match from the 1960s, as an example.
VINCE MCMAHON BEING REPLACED
*McMahon said there is an effort now to delegate more within the company so Vince isn't the only person because it isn't healthy for a public company to have one person responsible for everything. He said that if your last name is McMahon or Levesque, you are a major candidate to succeed McMahon but you never know what the future holds. He said you need to have someone like Michael Selick to watch the business who see things from a different point of view and has a different agenda. McMahon said there are plans but there is no one person that they have picked and that doesn't mean there will one day be one person. McMahon said that it all depends on how much the company changes and evolves over time. He said there is a good change currently in the company and they are contemplating succession for the future.
*When asked about a WWE Book on his life, McMahon said no. There's too much to cover and his time would be better spent devoted to other aspects of the business. He said that Donna Goldsmith and Kevin Dunn have been on him about doing one, but it's not likely going to happen.
ADDITIONAL HIGHLIGHTS
*McMahon said currently they are trying to get back to the fundamentals inside the ring. He said that the in-ring product hasn't changed since the day he was born and they will notice a big in-ring difference in the future because they were the first official reality show. He said that the company is a quasi-sport and they are going to give the official more authority and forcing breaks. He said no one can touch them from a production standpoint, so they are working on improving their in-ring presentation and that will be a piece of what's made the company better a year from now when they gather again. He said that their product can always change and morph and that's what makes them unique.
*Randy Savage's name was brought up by a shareholder, who asked why his name hasn't been signed like other older names. McMahon said they are wide open to using anyone who has a meaning to their audience, but you have to recreate and morph towards the future.
*When asked if he views TNA as a competitor to WWE, McMahon said he doesn't have time to watch the product. He says he doesn't even have time to watch all of WWE's product with all of his responsibilities. McMahon said that he thinks TNA will continue to do fine "where they are" and that their biggest mistake strategically will be trying to compete with WWE. He said that once you invest the type of money that a Ted Turner did, they have to compete on the WWE level and if they do that, "Yikes! Good luck to them." He said that if TNA produces a different product compared to WWE, they can be successful, but it will always be a niche product.
*McMahon was asked whether he still thinks WWE.com sucks, based on a comment he made at a previous shareholder's meeting. McMahon paused for some time and then joked that he was told last year that his comments probably hurt morale. McMahon said, "The website doesn't suck as much and is bordering on not sucking at all." He said that with the plans they have for the future, will be something big on a moneymaking standpoint for them especially on the international scale.
*When the role of celebrities were brought up, McMahon said that Donald Trump was relatively inexpensive. He said that from time to time they will bring in celebrities, but you have to be careful in how you do that. In comparison, WCW used celebrities but the audience didn't really care. McMahon said you have to take the celebrity and weave them into the storylines and the product, because investing time into just a celebrity appearance means you are taking away from the regular performers and environment.
*A shareholder asked about consumer products and McMahon gave a lot of credit to Donna Goldsmith, who was praised numerous times during the Q&A.
*A shareholder praised the company for their work with the troops overseas and says he hopes the company will not follow the route of other corporations that quietly work with terrorist states. McMahon said, "I would doubt that very seriously."
*McMahon said that the stock dividend will be maintained at the current level but likely won't go up in the foreseeable future.
*When asked whether he felt any of the current performers might end up involved in a role similar to Vince McMahon's current role. McMahon said that many of them have a bright future within the company after they are done inside the ring. He said that many of the current talents will be melded into the other business aspects of the company over time.
*McMahon said that the early estimates are that Wrestlemania 23 was the biggest ever for buys and live attendance. He said word of mouth is the greatest form of advertising and they got lots of press from the entertainment media. He praised Donald Trump for helping them open up those doors and for helping them with image and moving the company forward.
*As for why Wall Street doesn't embrace WWE, McMahon said they are the best kept secret on Wall Street. He suggested that partially it's because they maintained so much of the stock during the IPO personally and if they did it over, they might have had a more balanced dispersion.
*When asked about the idea of WWE sponsoring a NASCAR racer in the future, McMahon said they were involved in something with the Busch League in the past and it didn't work out, but that doesn't mean they could do a joint sponsorship with someone like an AT&T in the future. He noted John Cena recently filmed an ABC reality series in conjunction with NASCAR and the NASCAR audience crosses over with the WWE audience.
*When asked about using legends, McMahon said that they are signing older talents for WWE 24/7 but aren't bringing them into "the mainstream environment yet" because "you can't get your money out of that." He noted the WWE 24/7 roundtable discussion show and they have to use legends in the right forum.
Source: http://pwinsider.com/ViewArticle.asp?id=24352&p=1
By: Mike Johnson @ 6:40:00 PM on 5/11/2007
World Wrestling Entertainment held their 2007 shareholders meeting today in Connecticut which included Vince McMahon addressing the shareholders and taking questions from those in attendance. Highlights included:
*McMahon said that the company has a good year but they are not satisfied, "nor should we ever be satisfied." He noted they were finally on a good calendar year and had a "decent year." McMahon said there were some things that they didn't do as well as they hoped, which happens in the entertainment business. He said that they will prevail and do well in the long run, which is what they are, a long-term company.
WWE FILMS, MCMAHON CLAIMS THE CONDEMNED WAS SABOTAGED
*A shareholder asked whether The Marine and The Condemned, as well as the WWE Films division have made money. McMahon said that the Kane film and the John Cena film made money but he didn't know if that "was necessarily the case yet" with The Condemned. McMahon said that Lion's Gate did a great job with everything on "See No Evil" except the marketing because it was the horror genre, feeling the genre sells itself. He then discussed The Marine's release via 20th Century Fox saying they were the opposite in terms of finding ways to market and promote the film, which is still doing well on DVD.
*In regard to The Condemned, McMahon said that "I won't make any excuses for a lack of performance, but I might on this case." He said that there are no excuses for not drawing or succeeding, but noted he has not called the head of Lion's Gate "for fear of what I might say or I might do." McMahon claimed it was "almost sabotage" for the film in that if you didn't watch WWE programming, you wouldn't know anything about it. He said that in terms of reaching out to the mass audience, WWE didn't have control. McMahon explained that normal distributors control everything but the film itself, from a marketing, advertising, poster, etc. aspect. He said that Lion's Gate worked reasonably well with the Kane film and treated WWE as if they had "stumbled upon this great film" and that the Condemned should be pushed and handled by their marketing department.
*McMahon noted that Lion's Gate tried to promote a film that "didn't have a star" saying that WWE were the only entity to push that it starred Steve Austin. McMahon said that a film has to 'star" someone and John Cena made a name starring in the Marine although the general movie audience might not have known who he was beforehand. He said Fox did a great job building Cena and marketing the film around him.. In comparison, The Condemned didn't utilize the Stone Cold Steve Austin brand and that when you look at the poster, you just see a bunch of people and nothing that really tells you anything about the story. He said that the 30 second commercials for the film featured Austin for only 10 seconds, while ads in the Latin markets focused on a female character, which made no sense. McMahon said that Vinnie Jones is a great performer, but scoffed at Lion's Gate giving Jones equal billing in comparison to everything Austin has accomplished.
*McMahon said that the Condemned's marketing confused the audience. He said haven't been given numbers for the film yet and Lion's Gate told them that it tested well, including unusually well among women. That said, they didn't spend any money to try and attract women into the film.
*McMahon commented, "They took our product and just destroyed it."
*McMahon also said that the R rating for the Condemned was a mistake and he's not sure WWE Films should be doing anything beyond PG-13. He said the mindset was to do something blood and guts oriented since Austin's character is a little more hardcore but in the future he doesn't want to do another R rated film.
*McMahon said that they are counting on DVD sales and said he doesn't know if the film will make money. International distribution is not considered one of Lion's Gate's strengths, so that isn't expected to help the film either.
*Overall, WWE "will be breaking even on all three films or making a little money." McMahon said that it's good exposure that allows their performers to be out before the public in a different light and that garners the company interest in a different way, which is successful. McMahon said the financial model they have for filmmaking makes it "very difficult" to lose money.
*McMahon said that WWE Films has a deal with Fox which is almost signed, but then said, "I'm not announcing the deal, but I guess maybe I am." He said that deal will include two theatrical releases and "any number of DVDs." McMahon said that they would like to keep that format of two theatrical films a year, but now is the time to go directly into home video. He said that Fox embraces them and wants to work with them and owns their own international distribution, as opposed to the "award winning marketing group" that Lion's Gate has. In regard to Lion's Gate, McMahon closed by saying, "Hopefully we'll never do business with them again, but I didn't just say that."
MMA AND BOXING IN WWE'S FUTURE?
*A shareholder noted that Vince's grandfather Jess McMahon promoted boxing in the past and that the company once promoted a Sugar Ray Leonard fight, then asked if boxing was something the company might be getting involved in boxing in the future. McMahon said they aren't interested in boxing, but have entertained the idea of MMA.
*McMahon said that some think MMA is a natural expansion for them, but it's tough to build an intellectual property and noted it's a sport. He said that if you have a fighter you build up as a brand once he gets knocked out, you are left with nothing. He said that MMA is everywhere right now and will burn out over time. He said that he doesn't know if it will have the long-running legacy of the boxing industry, using names like Sugar Ray Leonard as an example. He said that you can't own the fighters, so there's no intellectual properties to build and market.
*From a TV standpoint, McMahon said MMA is, "Everywhere, wherever they can possibly be on the air, they are." He said that the public is going to eventually say enough and that there are no big stars. He said they looked into it a lot, but it's not for them. He said the upside isn't there for boxing or MMA under WWE's auspices.
WHETHER THE XFL HAS HUMBLED & CHANGED WWE
*When a shareholder brought up the XFL and referred to it as a "humbling experience", McMahon responded, "Not really. It's tough to humble me."
*He then asked McMahon if the experience had changed him or the company. McMahon said that if they had the chance to do it again, he would. The XFL had a tremendous upside with intellectual properties for the teams and the league itself. He said that they had grand plans. McMahon said that if Dick Ebersol knew the NFL was going to leave NBC the following year, the XFL never would have ended. Once NBC backed out, their other programmers got overly cautious that they had a "tarnished league" and didn't want to be involved. McMahon said that NBC was literally a partner and when UPN backed out, it's tough to promote teams and cities with one cable outlet. He said it became a situation where they had to cut their losses and focus on something else that has a better chance of working. He said going up against the NFL odds was tough but he is still confident that it would have worked if NBC had stuck with them. The reality is that it hasn't humbled them but they would look at the reality of the upside and downside of everything and would do that today if they went back to the XFL, which they aren't going to do.
THE FUTURE FOR WWE'S BRANDS, DOMESTIC & INTERNATIONAL
*In regard to the three separate brands, McMahon said they have some injury issues right now, but they will continue the ebrand xtension. He noted that all PPVs will continue to be tri-branded so fans can see stars and champions from all three brands under one roof. McMahon said that theoretically, he would like it where none of the brands cross over in order to help build each of the three brands, but they have had "a rash of injuries of late and you have to adapt to that and use the intellectual property from one brand to the other" so one doesn't look superior to the other.
*When asked if having so many titles dilutes all of the championships, McMahon said he doesn't subscribe to that. He said that the more championship matches you have, the bigger bargain you get as a consumer, especially with their recent price increase. McMahon said you have to look at the long range but also have to try and give the most you can to the consumer. He said going forward they will be more "judicious" with championship bouts. He said that only after they put Backlash together did they realize how many title matches they had. He said you have to give the consumer enough but not enough to satiate them, and that's a balancing act they have with broadcasted shows as well.
*Noting that ECW's relaunch is about a year old, a shareholder asked McMahon if the brand has met his expectations. McMahon said that it hasn't lived up to his expectations but has met those of their broadcast partner. He said that when you take the concept of "what that brand was, it can't stay there; it was unsuccessful." McMahon says you have to take the brand and morph it to make it different but not that different. He said it is a slow evolving process and has a bright future but not as quick as he would like.
*When asked about WWE's discussed international expansion, McMahon said that they just got back from a successful international tour and recruited eight individuals to come to WWE and show their talents. McMahon said that over time, three brands might not be enough to cover the globe. McMahon noted that South America "is really about to open up and that's obviously a large continent with lots of people." He said that China is another market they want to break into and Linda McMahon is taking a trip there this July. McMahon said they are trying to establish contacts and commitments there and do some regional tours there to introduce and build them into a national force there. McMahon said there are so many places to go and the world will always adapt to the American performers. He said that WWE's product can't be replicated by anyone in the United States or internationally. He noted that America is often seen as the bad guys by other countries so WWE could adapt to that and give those audiences "someone to boo." McMahon said, "There are lots of opportunities and we intends to be on top of it when the time is right." Internationally, their revenues will one day equal or be better than domestic revenues, particularly once they break into China and South America.
WWE'S TV PRODUCT
*McMahon said WWE will be going to High-Definition within the next year and they have tested it. He said that the product looks amazing under that format but they don't want to be too far ahead of the curve because that costs you money, while being too far behind gives the impression you aren't on the cutting edge. McMahon said they feel they are dead on in terms of timing right now.
*McMahon noted there would be an event titled "Night of Champions" where every match is a championship match coming up.
*When asked if WWE would ever get involved and allow another brand, like the International Fight League, to promote on WWE programming, McMahon said it would not make sense to invest and promote in a brand they don't own, saying he doesn't play too well with others and would want to invest in something they are 100% behind and not something that would distract them from important matters. He said that they could help others and themselves with a project like that but it doesn't fit into their long-term vision.
*When asked for an update in a statement he made a few years back about wanting WWE to own its own WWE PPV channel in order to hasten getting revenue from the events, McMahon said that as time goes on, the way fans watch PPV will in all likelihood be through WWE.com (which he later corrected himself and said "digital"), as opposed to going through the middleman of a PPV provider. He said that the day of the current "Middle Man" is nearing an end, not just for WWE but for all products. He said they have to learn the balance of where you present your product. McMahon discussed technology such as his blackberry and said in the future, a consumer will be able to watch TV on their own handheld devices via digital media. He said WWE wants to be there at the right time and use that technology to increase their revenues.
*In regard to WWE 24/7, McMahon said the cable companies are delighted with it, but WWE hasn't put the energies behind it "that we should." McMahon said they have additional clearances to make and they don't want to put full creative forces behind it until they have a broad investment into the product. He said that they need to have creative programming that's exclusive there, hosts, etc. and it's on the drawing board as they continue to expand the Video on Demand product. When asked about possibility of doing a free weekend preview of 24/7, McMahon said that's up to the cable companies, but also noted they haven't done any real push for the 24/7 entity yet. He suggested that they can take someone like Ric Flair and promote on their TV that on 24/7 you can see a classic match from the 1960s, as an example.
VINCE MCMAHON BEING REPLACED
*McMahon said there is an effort now to delegate more within the company so Vince isn't the only person because it isn't healthy for a public company to have one person responsible for everything. He said that if your last name is McMahon or Levesque, you are a major candidate to succeed McMahon but you never know what the future holds. He said you need to have someone like Michael Selick to watch the business who see things from a different point of view and has a different agenda. McMahon said there are plans but there is no one person that they have picked and that doesn't mean there will one day be one person. McMahon said that it all depends on how much the company changes and evolves over time. He said there is a good change currently in the company and they are contemplating succession for the future.
*When asked about a WWE Book on his life, McMahon said no. There's too much to cover and his time would be better spent devoted to other aspects of the business. He said that Donna Goldsmith and Kevin Dunn have been on him about doing one, but it's not likely going to happen.
ADDITIONAL HIGHLIGHTS
*McMahon said currently they are trying to get back to the fundamentals inside the ring. He said that the in-ring product hasn't changed since the day he was born and they will notice a big in-ring difference in the future because they were the first official reality show. He said that the company is a quasi-sport and they are going to give the official more authority and forcing breaks. He said no one can touch them from a production standpoint, so they are working on improving their in-ring presentation and that will be a piece of what's made the company better a year from now when they gather again. He said that their product can always change and morph and that's what makes them unique.
*Randy Savage's name was brought up by a shareholder, who asked why his name hasn't been signed like other older names. McMahon said they are wide open to using anyone who has a meaning to their audience, but you have to recreate and morph towards the future.
*When asked if he views TNA as a competitor to WWE, McMahon said he doesn't have time to watch the product. He says he doesn't even have time to watch all of WWE's product with all of his responsibilities. McMahon said that he thinks TNA will continue to do fine "where they are" and that their biggest mistake strategically will be trying to compete with WWE. He said that once you invest the type of money that a Ted Turner did, they have to compete on the WWE level and if they do that, "Yikes! Good luck to them." He said that if TNA produces a different product compared to WWE, they can be successful, but it will always be a niche product.
*McMahon was asked whether he still thinks WWE.com sucks, based on a comment he made at a previous shareholder's meeting. McMahon paused for some time and then joked that he was told last year that his comments probably hurt morale. McMahon said, "The website doesn't suck as much and is bordering on not sucking at all." He said that with the plans they have for the future, will be something big on a moneymaking standpoint for them especially on the international scale.
*When the role of celebrities were brought up, McMahon said that Donald Trump was relatively inexpensive. He said that from time to time they will bring in celebrities, but you have to be careful in how you do that. In comparison, WCW used celebrities but the audience didn't really care. McMahon said you have to take the celebrity and weave them into the storylines and the product, because investing time into just a celebrity appearance means you are taking away from the regular performers and environment.
*A shareholder asked about consumer products and McMahon gave a lot of credit to Donna Goldsmith, who was praised numerous times during the Q&A.
*A shareholder praised the company for their work with the troops overseas and says he hopes the company will not follow the route of other corporations that quietly work with terrorist states. McMahon said, "I would doubt that very seriously."
*McMahon said that the stock dividend will be maintained at the current level but likely won't go up in the foreseeable future.
*When asked whether he felt any of the current performers might end up involved in a role similar to Vince McMahon's current role. McMahon said that many of them have a bright future within the company after they are done inside the ring. He said that many of the current talents will be melded into the other business aspects of the company over time.
*McMahon said that the early estimates are that Wrestlemania 23 was the biggest ever for buys and live attendance. He said word of mouth is the greatest form of advertising and they got lots of press from the entertainment media. He praised Donald Trump for helping them open up those doors and for helping them with image and moving the company forward.
*As for why Wall Street doesn't embrace WWE, McMahon said they are the best kept secret on Wall Street. He suggested that partially it's because they maintained so much of the stock during the IPO personally and if they did it over, they might have had a more balanced dispersion.
*When asked about the idea of WWE sponsoring a NASCAR racer in the future, McMahon said they were involved in something with the Busch League in the past and it didn't work out, but that doesn't mean they could do a joint sponsorship with someone like an AT&T in the future. He noted John Cena recently filmed an ABC reality series in conjunction with NASCAR and the NASCAR audience crosses over with the WWE audience.
*When asked about using legends, McMahon said that they are signing older talents for WWE 24/7 but aren't bringing them into "the mainstream environment yet" because "you can't get your money out of that." He noted the WWE 24/7 roundtable discussion show and they have to use legends in the right forum.
Source: http://pwinsider.com/ViewArticle.asp?id=24352&p=1