WWE sent out a press release and held a press conference to announce the switch to just being known as WWE.
Vince said they will look to acquire production/content companies while pushing their own abilities in live event production, licensing and production.
He said they are moving forward to start their own TV network within the next 12-18 months and have talked with a variety of potential distributors.
Closest he ever came to saying WRESTLING:
The release also mentioned that HHH is the head of a new talent development department. The first guy signed by the department was Mistico.
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The LA Times had a line in their coverage where they wondered if WWE was setting themselves up to be purchased by a bigger company:
Vince said they will look to acquire production/content companies while pushing their own abilities in live event production, licensing and production.
He said they are moving forward to start their own TV network within the next 12-18 months and have talked with a variety of potential distributors.
Closest he ever came to saying WRESTLING:
“The new business model of the company better reflects what WWE is all about, being a global entertainment company,” stated Vince McMahon, Chairman and CEO, WWE. “We will always be loyal to our core business that made WWE a globally known entity, however, the future of WWE will be the addition of new entertainment content opportunities beyond the ring.”
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The LA Times had a line in their coverage where they wondered if WWE was setting themselves up to be purchased by a bigger company:
Some analysts wonder whether WWE wants to grow to position itself for an eventual sale. There are very few independent programmers left, and with its healthy balance sheet WWE might be attractive to one of the bigger media companies. Also, McMahon is 65, and although he's still going strong, there hasn't been a clear heir apparent since his wife, Linda, resigned as chief executive in 2009 to pursue a political career.
At the moment, McMahon, who with his family is controlling shareholder, doesn't sound like a seller.
"We're very independent-minded," he said. "I don't see that happening."
At the moment, McMahon, who with his family is controlling shareholder, doesn't sound like a seller.
"We're very independent-minded," he said. "I don't see that happening."
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