Vince McMahon And WWE Executives Talk COVID-19, WWE NXT And Triple H, Saudi Arabia, More

WWE Chairman & CEO Vince McMahon, Chief Financial Officer Kristina Salen, and SVP Financial Planning & Investor Relations Michael Weitz are hosting a Third Quarter 2020 Earnings call today from WWE headquarters in Stamford, CT. You can check out coverage of this evening's press release at this link. Below are highlights from the call: Weitz opens the call and welcomes everyone, going over the usual intro. Vince took over and said he's never felt as confident as he does right now with the upper management team WWE has.

 It's extraordinary what the team has done for the business. He touted the new energy and vibrancy, and optimism. In regards to where they can go in the future, this is a fun and exciting place to be. He praised new WWE President & Chief Revenue Officer Nick Khan for what he's done to help the company, and revealed that Chief Brand Officer Stephanie McMahon has taken on more responsibilities, praising her. Vince said he really feels great about the new WWE management team. Vince didn't get into the numbers, but says he just wanted to share how he feels about the current management team. He hands it over to Khan. Khan talks about his background since he's fairly new to the company. He mentions being an usher at WrestleMania 9 in Las Vegas. Khan says they are working to develop new WWE Studios content, including Total Bellas season 6 to premiere in November, and A&E's "Quest for Lost WWE Treasures" that will be hosted by Triple H and Stephanie McMahon. This show will take viewers on the ultimate hunt to find some of WWE's most iconic lost memorabilia. This furthers the relationship with A&E. He mentions A&E has also ordered more episodes of the "Biography" documentaries.

Khan then announces that they have reached a groundbreaking new deal with Netflix, selling them a multi-part documentary on the life of Vince McMahon. This is one of the highest-budgeted documentaries in Netflix history. Bill Simmons will executive produce. Chris Smith, who directed Netflix's Fyre Fest documentary, will produce the Vince project, along with WWE Studios. Khan noted that they are still working on the alternate version of WWE Network but are unable to say when that will be ready. WWE Network subscriptions are up during the pandemic. Khan announces a 2021 event with Sony in India that will primarily feature Indian talent. It will air on Sony in India and will also be distributed here in the United States. Khan then introduces Stephanie. 

She talks about her role with the company and how everything they do is under the WWE Universe. She touts how WrestleMania 36 went from being sold out at Raymond James Stadium, to the "new normal" on a closed-set at the WWE Performance Center. Along with RAW and SmackDown, they experimented with new ways on the closed set but that wasn't good enough so they launched WWE ThunderDome, which made their shows feel alive again. They saw an increase in RAW and SmackDown ratings with the ThunderDome. She touts how they transformed the Performance Center arena into the Capitol Wrestling Center, the return to WWE NXT UK with BT Sports Studios in London. She mentioned how the production teams from Orlando, Stamford and London are working together, and praised the efforts. She also touted more than 50 billion video views on YouTube, and WWE changing their digital strategy, which led to more engagement. Stephanie also talked about how the company has been doing WWE Community virtual visits during the COVID-19 pandemic, partnering with UNICEF for their kids program and others. WWE's advertising campaigns and sponsor partnerships are outpacing industry standards and recent trends. Stephanie also touted recent celebrity involvement and how top brands continue to partner with WWE during the pandemic. She said WWE remains bullish, for 2021 and beyond, when it comes to growth, expansion, partnerships and everything else. New Chief Financial Officer Kristina Salen took over next and went over numbers from today's press release. WWE is evaluating their strategies for 2021 but the pandemic leaves a lot of uncertainty. She said RAW and SmackDown viewership improved from July - September, despite major sports competition. She said WWE can't say when ticketed live events will return at this point, but their intention is to return to live events as quickly and safety as possible. WWE anticipates Q4 2020 will have lower revenues than the same period in 2019. Part of the blame goes to the fact that they have no Saudi Arabia event in the quarter like they did in Q4 2019. WWE did not buy back any stock in Q3 under the buyback program, but they may in the future. It's now time for the Q&A portion of the call. They were asked about ratings and if there are any firm plans to improve them, and if ratings staying where they are will hurt negotiations for rights fees when they come back around. Vince said they have more fans than they've ever had but total audience is much bigger than just the TV audience. You can't just "hang your hat" on TV viewership being down. Vince mentioned how WWE is never off the air. You might say viewership is down but the overall viewership and engagement needs to be considered. WWE is doing everything they can to improve. The ThunderDome brought some fans back, but they want better execution of the creative, and better writing overall. Khan said TV in general has lost viewers but WWE viewership has not, overall. Consumption of WWE content is significantly up. WWE remains confident that TV rights fees will also go up. He touted how WWE topped the NHL Stanley Cup viewership in the key demographic, and they also did well against the Los Angeles Lakers playing at the end of the NBA season. They were asked about the MENA (Middle East & North Africa) TV rights and Vince said they are still negotiating them, and are still in contact with the Saudis. Vince said it will happen, but he doesn't know when. They were asked about potential WWE Network changes and they are open to anything except the sale of the Network, including licensing. WWE is in constant talks about possibly licensing the Network domestically and internationally. They are also constantly working on international ideas for content. The idea is to develop local content for international territories. There are currently no plans to add advertising to the WWE Network free version but this could change. Stephanie noted that they are testing different technologies that can be applied to different strategies. Salen noted that they are waiting for the return of live events and touring. They still have some employees who are furloughed, which makes for short-term financial cuts, but they are hoping to bring some of those employees back by the end of the year. In regards to if they will have no live events in 2021 or maybe for half of the year and if they will run the Kingdom of Saudi Arabia next year, Salen said they have not commented on the 2021 OIBDA (Operating Income Before Depreciation and Amortization) but they are diligently working on 2021 financial and operational plans with the executive team, noting that she and Khan are still getting settled into the job. She said they will have an update on the strategic focus for 2021 the next time they meet with investors. Regarding the India event planned for 2021, they are seeking the right talents and the right structure so that the event makes sense for all parties involved. This will be with Sony in India. Khan noted that ratings in October have held up despite a "cluttered" fall TV season. When asked if there is anything that NXT does that could be used to improve RAW or SmackDown, Khan praised the blue and red brands for how they have held up. Vince was asked what he and the company needs to see before they are willing to bring fans back to events amid the pandemic. The call President Trump held earlier this year with sports league bosses was mentioned. Vince said he was on that call but that was the extent of his discussions with Trump on the matter. When the coronavirus eases up and it's safe for fans and talents, that's all he can say for now in regards to when fans will be allowed back like normal. They were asked about WWE NXT and the length of the deal with the USA Network. Khan gave props to Triple H and his team, and touted the NXT Halloween Havoc ratings for last night. He said they are comfortable with the position they have with USA, and are enjoying the relationship with the network. The platform has led to many eyeballs on the talent. They don't typically discuss the length of TV deals unless their partners are on board with them doing so, but they feel like this deal is certainly long enough for them to have a long runway for Triple H and his team to grow the product as they have been doing. Khan said they feel good about all three products and how they are headed in the right direction.

WWE Hosting Mandatory Counseling Session To Promote Healthy Relationships

WWE is making an effort to ensure their talent keep healthy relationships in their personal lives.

According to Dave Meltzer in the latest Wrestling Observer Newsletter, WWE will be hosting a mandatory counseling session (via streaming) on the subject of keeping healthy relationships. It was noted that the meetings are a push to change the culture in the wrestling business in the wake of the Speaking Out movement, with Total Life Counseling presenting a “mandatory session for all talent on that subject.”

The first meeting on October 28 will be the main presentation to all talent, with subsequent sessions being available for individual talents to ask questions in smaller “breakout” groups.

Multiple wrestlers across several different promotions have been accused of sexual assault and misconduct in recent months, including “Gentleman” Jack Gallagher and Ligero, who have all been released since the respective allegations against them first surfaced. More recently, Candy Cartwright (Samantha Tavel) filed lawsuits against multiple parties after making allegations that Matt Riddle had sexually assaulted her. Tavel is suing Riddle, WWE, EVOLVE/WWN and EVOLVE’s Gabe Sapolsky for $10 million each. Last month, Riddle filed a defamation civil suit against Cartwright for the allegations made against him hours after he voluntarily dropped the restraining order request made against her.

AEW Dynamite And WWE NXT Both Drop In Viewership This Week

The viewership numbers are in for Wednesday’s AEW Dynamite and WWE NXT.

Dynamite drew 753,000 viewers on TNT, while NXT drew 644,000 viewers on the USA Network, according to Showbuzz Daily.

Last week’s Dynamite drew 826,000 viewers, while NXT drew 651,000.

WWE Set For Huge Financial Win In CTE Case, Judge Issues Order Against Attorney

Wrestling Inc. has learned that yesterday the United States Court of Appeals for the Second Court rejected attorney Konstantine W. Kyros' appeal in his recent court room loss to WWE. Over the past six years Kyros has represented several former WWE talents alleging that WWE was not transparent regarding it's knowledge about CTE damage to it's performers.

Kyros' failing to appeal the recent verdict against him will mean that he has to pay WWE for their legal fees and other troubles. We are told that WWE is seeking around $560,000 but that the amount will increase to include the costs of the hearing, which must be held in order for the court to establish the amount it will order him to pay. Those issues appear to have been fully briefed and the court will now set a hearing date.

If Kyros attempts to appeal the order WWE would likely insist he post a bond ensuring payment. The only route Kyros has left to appeal would be to ask the United States Supreme Court to hear the case, which could happen but seems very unlikely. The next thing that will happen after the second circuit issues its mandate in seven days will be the sanctions hearings to determine how much he must pay WWE

Wrestling Inc. has also learned that the judge issued an order specifically for the purpose of protecting the public from Kyros. The order requires him to send an opinion explaining his dishonest behavior to all his existing wrestler clients and any that contact him in the future. In a recent Wrestling Inc. interview WWE council Jerry McDevitt alleged that Kyros' had plagiarized much of his suit based on a similar one filed against the NFL.

"Kyros got caught in the last lawsuit basically plagiarizing from the lawsuit of the NFL allegations, the allegations that were made against the NFL that resulted in the case being successful against them where the NFL, unlike the WWE, had made various public statements and actually published articles in scientific literature and magazines and whatnot sort of downplaying, if you will the effects of concussions," McDevitt explained. "And Roger Goodell had allegedly made various statements that were alleged in the complaint against the NFL. All Kyros did was he gets ahold of the NFL complaint, and he literally just changes where the complaint would say, 'Roger Goodell said the following, concussions don't cause any long-term damage, and it's safe to go back to work on a day you get a concussion.' He would just change that to say a WWE representative had said that.

"Just flat-out make up false things like that. The kind of stuff lawyers don't do, and we brought that to the court's attention and multiple other violations of his. And he was as a result of his misconduct, sanctioned three different times by the federal judge up there that had control of the case. And is now facing sanctions orders of what we say is going to make him required to pay us hundreds of thousands of dollars in legal fees."

WWE Issues Statement On Reported Lawsuit Filed By Matt Riddle's Accuser Candy Cartwright

Samantha Tavel, a.k.a. Candy Cartwright, has filed a civil lawsuit against Matt Riddle, WWE, and former EVOLVE owner Gabe Sabolsky, which was first reported by the Chicago Sun Times.

According to court documents acquired by Fightful, Tavel is seeking $10 million dollars per defendant for actual damages, damages from emotional distress, punitive damages, attorney's fees, and costs.

Fightful noted that the suit alleges that Riddle committed a series of assaults against Tavel from 2017 through January 2020. She alleges that Riddle first sexually assaulted her in April of 2017 in a parking lot following an EVOLVE show. She claims that Riddle bragged about the incident with Sapolsky and two others from WWE who "tacitly approved" of the assault.

According to the Chicago Sun Times, after leaving an EVOLVE event on May 19, 2018, Tavel - who was in a relationship with Riddle at the time - said that Riddle forced her to perform oral sex on him on a bus with other wrestlers. Tavel says that she was not comfortable doing the act with other wrestlers on the bus and said, "No." Tavel claims that Riddle then put his hands on her neck and said, "What if I just made you?"

"I never thought he would do anything to hurt me and, in that moment, I was terrified," Tavel said at a news conference on Thursday.

Tavel's attorney, John Chwarzynski, said that the incident was one of the "multitude of sexual assaults committed by Matt Riddle against my client, Candi Cartwright."

"The WWE has painted a picture over the course of the years that female performers are to comply with certain rules," Chwarzynski said. "The WWE, since its inception, has hyper-sexualized female performers and they've profited from male aggression against these female performers."

According to the Chicago Sun Times story, Tavel claims that EVOLVE terminated her in January after she refused to continue to perform "forced sexual acts" on Riddle.

Cartwright first made the allegations against Riddle in June. Riddle admitted that they had an affair, but denied any allegations of sexual assault. In September, Riddle dropped a petition for a restraining order against Tavel. Riddle announced on September 17th that he would be filing a civil suit against Tavel, however the suit has yet to be filed.

WWE Performance Center Is Now Known As The Capitol Wrestling Center, Triple H Comments

Triple H held a media call earlier this week and teased a "game changing" look and feel at tonight's NXT TakeOver: 31.

"So this Sunday's TakeOver will have a very unique look and feel, something totally different that hasn't been done so far," Triple H said. "You'll find out more on Sunday, but it will be very unique, and I think hopefully, at least for us, game changing."

It was later reported WWE was moving all NXT tapings — including tonight's TakeOver — from the NXT Arena on the campus of Full Sail University in Winter Park, Florida to the WWE Performance Center in Orlando, Florida. Since RAW and SmackDown headed to the Amway Center (WWE ThunderDome) that left the WWE PC available for NXT.

Sports Illustrated is reporting the Performance Center has a newly remodeled TV set, and will now be known as the Capitol Wrestling Center. This is a tribute the the Capitol Wrestling Corporation, founded by Jess McMahon in 1953 and run by Vincent J. McMahon.

"It's a historic callback to where this all began," Triple H said about the new name. "We gutted the Performance Center and it's now rebuilt, so it feels like we're going back to the beginning. To me, it feels like we're going back to 1953. Just like then, we're doing something different and new, taking the business to a whole new level.

"The Capitol Wrestling Center captures the feel and the vibe of NXT. We will have all the bells and whistles of the ThunderDome, but we'll keep that NXT feel. It's edgier, darker and raw — you're walking into the ultimate heavy metal soundstage."

Along with the virtual fans, there will be fans in attendance in a limited capacity of around 100 people at tonight's show.

"There will be a contingent of fans in attendance, some of which will be talent, others will be friends and family and some will be fans," Triple H stated. "We will take every safety precaution that there is. All of this was signed off by our medical staff. Everybody that walks in the building will be PCR tested, take a questionnaire and be medically screened. There will be plexiglass pods with fans that are in groups, and the groups will vary in size. Everyone will wear masks, and each group will never be near anyone else."

Triple H also noted there was talk of running NXT at the ThunderDome, but he was resistant as he wanted NXT to keep its own unique feel. The move to the Capitol Wrestling Center does not mean WWE's relationship with Full Sail has ended.

"We are not severing our relationship with Full Sail," Triple H confirmed. "I'm very proud of all we've done there. This move is the right decision for us from a tech standpoint, but I look forward to returning there soon and the partnership remains strong."

The TakeOver Pre-Show begins at 6:30 pm ET with the main card starting at 7 pm ET.

Arn Anderson Reveals What It Was Like Working With Triple H Backstage, More

During the latest edition of his “ARN” podcast, Arn Anderson commented on what it’s like to work with Triple H backstage, Vince McMahon, and more. You can check out some highlights from the podcast below:

On working with Triple H: “He’s following the lead of his father-in-law. He’s putting forward the policies that Vince has laid out. I think he speaks well, I think he has a good grasp on the business. But I’ve always dealt with him – that’s the one blessing I’ve had, no one has asked me or have I volunteered to be in those meetings where they involve just the business end of what we do. Mine was always matches – setting up matches, setting up angles because he and I think a lot alike. I think he’s a bit of a throwback as far as his work back to an 80s style of worker……he’s a guy that could’ve fit in the 80s as far as how he works. He’s not a big high-spot guy and all that stuff. So I dealt with him more on the mechanics of matches and things like that. Sometimes he would ask my opinion on stuff.”

On whether Triple H could succeed Vince McMahon as chairman of WWE: “I think he’s always been in his mind, and maybe it was the plan of the company for him to one day take over the leadership of the company. You’ve got Shane and Steph who would probably fall in line – if you really broke it down – ahead of him I would think since they are Vince’s kids. But who knows? Steph has her job as far as the branding and Shane does his thing. I don’t know how it’s lined up, and you’ll never know until the issue arises and who exactly will run the company.”

(h/t – 411 Wrestling)

Triple H and Others Set For New York Comic Con Panel

NYCC has announced that Triple H, Drew McIntyre, and Zelina Vega will discuss some of Monday Night RAW’s biggest moments in a panel on October 9th at 12:30PM EST. Here is the official description:

“Join WWE Superstar Zelina Vega, Hall of Famer Paul “Triple H” Levesque and WWE Champion Drew McIntyre as they talk about their love, passion and experience of some the most kickass moments from across nearly 3 decades of Monday Night RAW! From larger than life Superstars, limitless athleticism and unequaled drama RAW has made USA Network the destination to see good and evil do battle live 52 weeks a year. Moderated by WWE correspondent Charly Caruso.”

Rumor Mill - Information On Cancelled NXT Concept

In a report by Fightful Select, it was revealed that there was originally plans for an NXT Underground long before RAW Underground was a thing. Apparently, the segment would have been different from what RAW Underground eventually became.

It was apparently going to use talent who wasn't being utilized at the time, as well as outside wrestlers with promotions WWE is partnered with (such as EVOLVE.)

The show was in it's planning stages as late as last month, and apparently a pilot was shot in the Performance Center, but some people were not happy with the concept. Eventually, the idea was scrapped.

Source: Fightful.com

WWE Taking Over Talents' Twitch Accounts In Four Weeks

Wrestling Inc. has learned that Vince McMahon sent an email to talent this week reminding them that they have until this Friday, October 2nd, to sever any unauthorized business relationships with third parties. It was noted that talent who fail to comply could be fined, suspended or terminated. 

As Wrestling Inc. first exclusively reported in September, McMahon issued an edict instructing talent that they can no longer engage with third parties. The company later clarified the edict, stating that talent could maintain Twitch and YouTube accounts under their real names, however they would still need to inform the company of those accounts. Wrestling Inc. has also learned that talent were told this week that the company will be taking control of their Twitch accounts in four weeks. WWE will own those accounts, however talent will receive a percentage of the revenue, which counts against their downside guarantees.

Former Democratic Presidential candidate Andrew Yang openly criticized the edict when it was first revealed last month, and said that he would take action if Joe Biden were to be elected President. Yang spoke with Wrestling Inc. recently about why he feels that WWE has been able to get away with some of their labor practices. 

 

"A lot of it is that wrestlers are afraid to speak out, and I've had wrestlers past and present reach out to me and say that Vince has been getting away with exploitation of wrestlers calling them independent contractors while controlling their activities for years and years," Yang said. "A lot of it is just that they are a quasi-monopoly, and wrestlers fear that if they do try and unionize or organize in any way that Vince doesn't like, that it will never work again."

Stephanie McMahon Ranks Second On Forbes List Of The World's Most Influential CMOs

WWE Chief Brand Officer Stephanie McMahon has been ranked #2 on the Forbes list of the World's Most Influential CMOs (Chief Marketing Officers).

The 2020 report is the 8th annual list from Forbes. The list uses date from news reports, websites and social networks to measure influence. 427 global CMOs were eligible for consideration this year. The assessed time period was from February 15 to June 30, 2020.

Stephanie ranked #2, under Phil Schiller, who is the Senior Vice President of Worldwide Marketing for Apple.

Forbes wrote the following about McMahon on the list:

McMahon is an outspoken and highly visible executive at WWE, a company in an industry often mired in controversy. The daughter of WWE CEO Vince McMahon, she is a former WWE Superstar herself, and she's a big proponent of WWE Superstars growing their own brands via social media. She has also championed women's equality in the WWE.

This year she spoke out about making the events that went on during the pandemic safe for fans and Superstars. In June she also reportedly shared what she and the company are doing to eliminate racial inequality on The Female Quotient—and partnered with FQ founder Shelley Zalis to create a discussion series called "Women in the Business of Sports."

Below is WWE's congratulatory announcement on McMahon making the list:

Stephanie McMahon named World's No. 2 Most Influential CMO

Stephanie McMahon has been named to Forbes' list of the world's Most Influential Chief Marketing Officers.

The WWE Chief Brand Officer is No. 2 on the annual list of the top 50 CMOs around the world who are redefining industries and creating a more diverse and equitable future within business, culture and society.

"[S]he's a big proponent of WWE Superstars growing their own brands via social media," Forbes wrote. "She has also championed women's equality in the WWE."

McMahon joins senior leaders from from Apple, Google, Microsoft, Proctor & Gamble and more on the prestigious list.

Join WWE in congratulating Stephanie on this honor!

Triple H On If He Had Creative Input Into Retribution's Debut

During today's media call, Triple H was asked about Retribution's recent RAW debut, and how much input he and NXT wrestlers have into how they will debut when they move to the main roster for RAW or SmackDown. "Wait a minute, you're saying that some of the people in Retribution came from NXT? Geez, I gotta pay more attention to this stuff," Triple H joked. Triple H continued and revealed that he has no creative say-so into what happens after a NXT Superstar is called to the main roster. He noted that the RAW and SmackDown creative teams take over once a call-up happens.

"We have conversations around who will go where, when," he said. "An example of, 'Hey, this person, we have an interest in them. They reach out to us, we have an interest in them. Great, I can write them out of stuff and get them to you by this period of time. Excellent,' and we go from there. "Where it goes from there, at this point in time, I don't have any say on, or anything else. It really goes to those creative teams. I get the call, whether it's from RAW, whether it's from SmackDown, or whether it's somebody that kind of has oversight of both, and we sit down, we have meetings around who goes where, when, and really that's it. You know, sometimes those calls are reversed as well. That's sort of the process, but the creative teams of those brands are controlling what happens to those talent. They might ask me, 'Hey, can this person handle this or can they handle that?,' Because they're maybe not as familiar with them as I may be, but it really doesn't go a whole lot further than that."