It’s been a big week for WWE as Vince McMahon has returned to the WWE Board of Directors to pursue a potential sale of the company ahead of the upcoming media rights negotiations.
Following Vince McMahon’s return to the Board of Directors, WWE held an all hands on deck meeting on Friday for employees of the company which did not include talents. During the meeting Stephanie McMahon addressed Vince’s return while saying that Vince is most excited about the media rights opportunity that lies ahead of the company.
“Vince McMahon is coming back to the board of directors. He has made it clear upon his return what he’s really most excited about is the media rights opportunity in front of us that we’ve all been discussing and tying that to a strategic alternative process. And we wanted to make sure we got with everyone as soon as possible so you were aware of this message and also so we can explain a little bit more about it. And hopefully, we can answer questions moving forward. This format doesn’t allow for it.”
Now that Vince McMahon is back there have been a lot of questions about the future of WWE creative and other departments, but Nick Khan addressed those concerns during the meeting.
“In terms of the day-to-day of the company, nothing is changing. Steph is in her role, I’m in my role, Frank’s [Riddick] in his role, Paul [Levesque] is in his role, Kevin Dunn is in his role,” Khan said.
Stephanie McMahon also emphasized that this is an exciting time for the company when she closed the meeting and said, “So again thank you to all of you. This is an exciting time. It shouldn’t be a scary time. It’s an exciting time for WWE. Our founder is back on the board and is going to help lead this process [of a potential sale].”
PWInsider notes that the move was pushed as a big positive that will give the company everything needed to make the most of future media rights sales and gauge interest in a potential sale. The idea is that WWE will be looking at potential sale offers ahead of rights negotiations to see if that would be more lucrative financially instead of just selling the TV rights. However, it was also emphasized that a sale might not happen, and that it should not be assumed a sale will happen.
H/T Wrestlenomics
[…] WWE held an all hands on deck employee meeting on Friday where a potential sale was addressed. It was also emphasized that a sale might not happen, and it should not be assumed that it will. You can get more on that here. […]