Fade
Patti Mayonnaise
Posts: 38,527
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Post by Fade on May 27, 2021 10:22:04 GMT -5
People thought I was crazy when I predicted that WWE was gonna be sold to conglomerate. WHO'S LAUGHING NOW!? HUH!? Probably not HHH.
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Gecko
Grimlock
FAN Pyrite Member. Muahahaha
Posts: 13,636
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Post by Gecko on May 27, 2021 10:35:40 GMT -5
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markymark
Bill S. Preston, Esq.
Posts: 19,891
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Post by markymark on May 27, 2021 10:41:32 GMT -5
Unexpected tbh
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on May 27, 2021 10:44:42 GMT -5
Idk where the hell all these changes Khan is doing is leading to but even just imagining WWE no longer involved in wrestling is insane to me but yet we might be as close to that happening as ever.
Because none of the McMahons speaking at this was just as surprising and very telling IMO.
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Post by Hypnosis on May 27, 2021 11:22:38 GMT -5
Khan tried to give encouraging words to employees. At one point he became emotional reading a story about a young woman who commuted four hours from work to college every day. The story was seemingly an example of a person with a strong work ethic who WWE employees might emulate. I hate this guy just from how blatantly disingenuous and manipulative that is. And we thought Edge was the Master Manipulator.
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Mecca
Wade Wilson
Posts: 25,185
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Post by Mecca on May 27, 2021 11:44:51 GMT -5
Some more notes on the this and how WWE addressed it today from Wrestlenomics: The total number of employees cut yesterday we're now told totals 60 or more. WWE's leadership felt there were a number of redundant positions across the three departments being merged. Senior vice president and head of WWE Studios, Susan Levison was let go from WWE as a part of yesterday's lay-offs. She'd been with the company since March 2019. Earlier today the company held a meeting over video for all employees to address the lay-offs. The meeting was largely led by president and chief revenue officer Nick Khan as well as chief financial officer Kristina Salen. Kevin Dunn, WWE's executive producer and chief of global television distribution, spoke briefly at the meeting. He explained the television department, advanced media group, and WWE Studios are all being consolidated under a new department called "WWE media", led by Dunn, who previously oversaw the television department. Neither CEO Vince McMahon, chief brand officer Stephanie McMahon, nor executive vice president Paul Levesque spoke at the meeting. Khan tried to give encouraging words to employees. At one point he became emotional reading a story about a young woman who commuted four hours from work to college every day. The story was seemingly an example of a person with a strong work ethic who WWE employees might emulate. Employees return to headquarters in Stamford, Connecticut on July 6. Workers are not required to be vaccinated before they come back to the office. Under an "honor system", non-vaccinated employees will be required to wear masks. As noted yesterday, other executives who were terminated included EVP of advanced media group Jayar Donlan, EVP of international television James Rosenstock, VP of media operations Makham Nolan, and senior vice president of production Brian Pellegatto. Really, Nick? I hate when upper management do that shit. "Well THIS Person did--", you know how respond to that? "Well that's THEIR problem, not mine!" Corporations, when you think the best workers are the wrestlers! I see THE WWE is finally getting in line with his real America business works. Not only f*** people over but you have to make them believe it's a privilege to get f***ed.
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Post by polarbearpete on May 27, 2021 11:50:46 GMT -5
These certainly seem like moves made to make the company more attractive to buyers.
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fw91
Patti Mayonnaise
FAN Idol All-Star: FAN Idol Season X and *Gavel* 2x Judges' Throwdown winner
Tribe has spoken for 2024 Mets
Posts: 39,793
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Post by fw91 on May 27, 2021 11:59:13 GMT -5
These certainly seem like moves made to make the company more attractive to buyers. Why would a buyer care about someone like Tom Phillips being let go?
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on May 27, 2021 12:04:25 GMT -5
These certainly seem like moves made to make the company more attractive to buyers. Why would a buyer care about someone like Tom Phillips being let go? Not that specifically, but the heavily trimming down the staff and streamlining departments. Those kinds of moves happen a lot with companies looking for buyers, trying to give prospective ones less fat to have to trim themselves because that's usually one of the first things that happens after an acquisition.
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Push R Truth
Patti Mayonnaise
Unique and Special Snowflake, and a pants-less heathen.
Perpetually Constipated
Posts: 39,372
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Post by Push R Truth on May 27, 2021 12:10:40 GMT -5
I'm guessing the McMahon's see the future outlook for the industry has changes they don't like and battles they know they'll eventually lose... so they are going to cash out.
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Post by Feargus McReddit on May 27, 2021 12:19:18 GMT -5
I still need to be convinced about this “prepping WWE to be brought” thing.
Like, if we’re talking NBC Universal buying it to expand their own library, sure, maybe as a stretch. Anyone else? Nah.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on May 27, 2021 12:27:47 GMT -5
It is not a guarantee any of this has anything to do with a sale but damn if it isn't all the trappings of a company making itself more attractive to potential suitors by trying to clean up all their interal bureaucracy and getting rid of clearly problemactic people (Wuertz , Dream etc).
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Mecca
Wade Wilson
Posts: 25,185
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Post by Mecca on May 27, 2021 12:28:08 GMT -5
I still need to be convinced about this “prepping WWE to be brought” thing. Like, if we’re talking NBC Universal buying it to expand their own library, sure, maybe as a stretch. Anyone else? Nah. NBC/Comcast could be a candidate honestly.
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Post by celtics543 on May 27, 2021 12:32:25 GMT -5
It's crazy to see Vince get old. I like to believe 1999 Vince McMahon would have done this meeting himself and spoken directly to the people being let go. It wouldn't have been any better for those people but it always felt like Vince was in control. The mere thought of the McMahons selling the WWE to some large conglomerate seemed like an impossibility with Vince at the helm. But now...Vince is old and it seems he doesn't want to fight these battles anymore.
From a purely entertainment perspective I have to wonder how HHH feels about all of this. Stephanie is into business and will be fine doing whatever she wants to do. Shane is into business and will be fine in whatever line of work he chooses to do. But HHH isn't a business guy and probably can't just slot himself into a power spot at another company. Does HHH have free reign to be a part of AEW or will the sale of the WWE prevent him from joining another wrestling organization. Pro wrestling is all that guy has ever wanted to do and the fact he might not be able to legally has me really intrigued. I'm not sure why this is one of my first thoughts but it is.
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Post by Error on May 27, 2021 12:37:24 GMT -5
I don't know that i believe they are trying to sell the company, yet anyway, I think this is more trying to convince other companies they aren't the mom and pop carnie company they've long been perceived to be.
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Post by Feargus McReddit on May 27, 2021 12:39:00 GMT -5
I don't know that i believe they are trying to sell the company, yet anyway, I think this is more trying to convince other companies they aren't the mom and pop carnie company they've long been perceived to be. I believe this a lot more. Like, I can imagine the idea that Khan having the connections he has, they want to seem like they can actually work with companies on projects that’ll help both sides instead of just accepting anything and treating it like they won the lottery every time.
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Post by "Evil Brood" Jackson Vanik on May 27, 2021 12:41:23 GMT -5
At some point, NBC really needs to think about it. They're paying a ton of money for RAW/NXT and to rent out the entire WWE library. You'd probably save enough money in 5 years by owning that stuff outright to make the purchase worth it.
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Post by jivesoulbrah on May 27, 2021 12:48:16 GMT -5
From a purely entertainment perspective I have to wonder how HHH feels about all of this. Stephanie is into business and will be fine doing whatever she wants to do. Shane is into business and will be fine in whatever line of work he chooses to do. But HHH isn't a business guy and probably can't just slot himself into a power spot at another company. Does HHH have free reign to be a part of AEW or will the sale of the WWE prevent him from joining another wrestling organization. Pro wrestling is all that guy has ever wanted to do and the fact he might not be able to legally has me really intrigued. I'm not sure why this is one of my first thoughts but it is. He’s set financially enough to be a stay at home dad. I imagine him cutting 30 minute promos to his kids each morning they wake up on why they didn’t clean their room and do their chores.
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Post by polarbearpete on May 27, 2021 12:48:54 GMT -5
These certainly seem like moves made to make the company more attractive to buyers. Why would a buyer care about someone like Tom Phillips being let go? I was referring to the office cuts and streamlining of departments.
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Post by polarbearpete on May 27, 2021 12:51:32 GMT -5
I still need to be convinced about this “prepping WWE to be brought” thing. Like, if we’re talking NBC Universal buying it to expand their own library, sure, maybe as a stretch. Anyone else? Nah. I don’t think it’s definitely an indication they’re looking to sell as it could just be a new person in power (Khan) cutting excess and streamlining the company. But it is certainly something you would be doing if you did want to sell. And I think NBC Universal would be the number 1 candidate to buy the company. What’s it valued at, 3.2 billion? And NBC through its TV deal and Peacock deal are already paying about 2 billion over the next 4-5 years just for the content, no?
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