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February 2, 2023

Batista Believes Triple H Being In Charge Is The Best Thing For WWE

Batista recently spoke with Comicbook.com about the new direction of WWE under Triple H. The former WWE Champion believes Triple H is the best man for the job.

On Triple H leading the company:
"I think this is the best thing for the company. It really is. It’s a personal thing with me because I know Triple H. I know how well he knows this business. I know how much he loves this business. As far as this business goes, he’s the smartest guy I’ve ever met in my life."

On how Triple H helped him:
"He made me who I was. He was responsible for my career. I’ve never been ashamed to say that. I think that he is so dedicated to this product and just wants the best for it. I think he’s absolutely the right person. I’ve never met anyone else who thinks the way he does, as far as wrestling goes."

January 30, 2023

WWE To Celebrate 20th Anniversary of Evolution This Week

WWE issued the following:

Twenty years ago this month, one of the most dominant factions in WWE history stormed onto the scene with the emergence of Evolution.

Led by Triple H, Evolution represented the best of the past, present and future of sports-entertainment in 2003, combining The Game and 16-time World Champion Ric Flair with two potent newcomers who’d go on to become legends in their own right, Batista and Randy Orton.

The group steamrolled competition on Raw during The Ruthless Aggression Era — at one point, all four members held championship gold simultaneously — all while flaunting their enviable lifestyle, whether it was designer clothing, luxury cars or a custom entrance song performed by Motörhead. After disbanding in 2005, Evolution reunited a handful of times throughout the years, most recently at SmackDown 1000 in 2018.

In celebration of the 20-year anniversary of Evolution’s formation, WWE social channels will be paying tribute to the groundbreaking faction all week long. Be on the lookout for classic full-length matches, a special Evolution-themed episode of WWE Playlist, rare photos and be sure to join the festivities by sharing your favorite memories of the group using hashtag #EvolutionWeek.

WWE's Royal Rumble smashes its records for gate, viewing

WWE today announced that the 2023 Royal Rumble, which emanated from the Alamodome in San Antonio, Texas, became WWE’s highest-grossing and most-viewed Royal Rumble in company history.

The event set a new all-time gate record at more than $7.7 million, far surpassing the previous Royal Rumble high in 2017 by more than 50 percent. Viewership of the event saw a 52 percent increase versus the previous record set in 2022.

In addition, the 2023 Royal Rumble broke all-time venue merchandise and sponsorship records. Merchandise sales were up 135 percent versus the record set in 2022. Royal Rumble sponsorship revenue was up nearly 200 percent versus 2022 and featured the first-ever sponsored match (MTN DEW PITCH BLACK) and sponsored countdown clock (Applebee’s).

On social, the Roman Reigns-Sami Zayn videos generated 20 million-plus views across all WWE platforms and became the most-viewed WWE clip of 2023. Additional highlights include Logan Paul and Ricochet’s high-flying collision which amassed 26.5 million views across WWE and Paul’s platforms, and the launch of Reigns’ TikTok account which netted 100K followers in the first 24 hours.

January 28, 2023

Paul ‘Triple H’ Levesque Has Big Plans in Store for the WWE. What Happens Now That Vince McMahon Is Back?

January 25, 2023

Raw XXX delivers highest domestic gate in history of Monday Night Raw

Raw XXX was a defining night for the red brand and delivered the highest domestic gate in the history of Monday Night Raw.

A sell-out crowd at the Wells Fargo Center in Philadelphia witnessed Sami Zayn's Tribal Court, an iconic moment shared between Bray Wyatt and The Undertaker, a joining of DX and Kurt Angle, the return of The Beast Brock Lesnar and much more.

January 17, 2023

Vince McMahon No Longer Needs WWE Stockholder Approval For His Actions

A new SEC filing has revealed that Vince McMahon no longer needs stockholder approval for any actions related to WWE.

WWE published a new SEC filing summary that showed Vince McMahon, the majority shareholder of WWE, successfully petitioned to no longer need approval from stockholders for his actions related to the company.

On January 5, 2023, Vincent K. McMahon, the controlling stockholder of World Wrestling Entertainment, Inc. (the “Company”), executed and delivered a written consent (the “January 5th Consent”) taking certain actions by consent without a meeting in accordance with Section 228 of the General Corporation Law of the State of Delaware (the “DGCL”) resulting in, among other things, the election of Mr. McMahon to the Board of Directors of the Company (the “Board”) and certain amendments to the Company’s bylaws (the “January 5th Amendments”) that Mr. McMahon indicated were intended to ensure that the Company’s corporate governance continued to properly enable and support stockholder rights. On January 6, 2023, the Company issued a press release providing an update regarding the composition of its Board, including Mr. McMahon’s return to the Board, and the Company’s intention to explore strategic alternatives with the goal to maximize value for all stockholders of the Company. On January 9, 2023, the Board elected Mr. McMahon as Executive Chairman of the Board.

Subsequently, Mr. McMahon informed the Company of his view that there is substantial alignment among the Board and management concerning the decision to conduct a review of strategic alternatives amid the Company’s upcoming media rights cycle and that the Company’s corporate governance will properly enable and support stockholder rights. In light of the foregoing, on January 16, 2023, Mr. McMahon, in his capacity as controlling stockholder of the Company, executed and delivered a written consent (the “January 16th Consent”) taking certain actions by consent without a meeting in accordance with Section 228 of the DGCL to substantially repeal the January 5th Amendments, as further described below in Item 5.03.

No further approval of the stockholders of the Company is required to approve any of the actions taken by Mr. McMahon pursuant to the January 16th Consent. Pursuant to rules adopted by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company expects to file with the SEC, and thereafter mail to its stockholders, an information statement as required by Schedule 14C promulgated under the Exchange Act to provide stockholders with information concerning the January 5th Consent and January 16th Consent. The Schedule 14C will also constitute notice to stockholders in accordance with Section 228 of the DGCL of the actions taken by the January 5th Consent and the January 16th Consent.

The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 5.03.

Effective January 16, 2023, pursuant to the January 16th Consent, Mr. McMahon repealed all of the January 5th Amendments (which were incorporated into the amended and restated bylaws of the Company filed with the SEC on January 11, 2023 as Exhibit 3.1 to the Company’s Current Report on Form 8-K) other than Article XI (Exclusive Forum), which designates (i) the Court of Chancery of the State of Delaware, to the fullest extent permitted by law, as the sole and exclusive forum for the resolution of, among other claims, any derivative action or proceeding brought on behalf of the Company, and (ii) the federal courts of the United States of America, to the fullest extent permitted by law, as the sole and exclusive forum for any cause of action arising under the Securities Act of 1933, as amended (the Company’s bylaws, as amended and restated as a result of the January 16th Consent, are referred to as the “Amended and Restated By-Laws”).”

McMahon returned to WWE this month and stated his primary goal was to oversee the next WWE media rights negotiations and a potential sale of the company. Since then, Stephanie McMahon resigned from the company and Vince McMahon was unanimously elected as WWE Executive Chairman of the Board on January 10. It’s since been reported that McMahon has resumed working at WWE offices and recently made some creative suggestions for WWE television, but other WWE officials including Triple H and Kevin Dunn maintain that McMahon does not have final approval.

January 13, 2023

What Triple H Told WWE Talent Before Tonight's SmackDown

There has been a lot of uncertainty since Vince McMahon returned to WWE. McMahon revealed his intention to return last month in letters exchanged with WWE's Board of Directors. While the board was initially unanimously against McMahon's return, he found his way back as the company's Executive Chairman.

Many have wondered what that would mean for WWE's creative direction. Paul "Triple H" Levesque took on the role of Chief Content Officer after McMahon left the company back in July. While McMahon has insisted that his reason for returning is to help secure a new media rights deal, and to help facilitate a possible sale, some have theorized that his ultimate goal is to once again run the creative team.

Fightful is reporting that Levesque held a talent meeting hours before the January 13 episode of "SmackDown," which emanates from the Resch Center in Green Bay, Wisconsin. The report notes that Levesque told talent that McMahon is back to "lead the charge" and figure out who to sell the company to if a deal were to take place. It was also said that Levesque tried to pour cold water on reports that a sale was already a done deal.

The report mentioned that Levesque assured talent that nothing that is going on with McMahon will impact the creative direction of the main roster shows. "Triple H" admitted that anything can change, but for now, he's still in charge of the company's creative direction. Levesque reportedly thanked the talent and said he understood why there would be concern backstage.

January 12, 2023

Rumor Mill - Stephanie McMahon and Triple H had opposed a sale of WWE

Axios.com featured a piece on all the rapidly developing twists and turns within WWE corporate over the last week that originated with Vince McMahon forcing himself back into a major role in the company to potentially faciliate a sale.

Interesting to note that in their coverage, it is noted, "Sources told Axios that Stephanie McMahon and her husband Paul "Triple H" Levesque, the company's chief content officer and a retired professional wrestler, had opposed a sale."

Should that be accurate, it certainly adds a new dimension to Stephanie McMahon's decision to resign from the company earlier this week.

January 10, 2023

WWE Board of Directors unanimously elected Vince McMahon Executive Chairman of the Board; Stephanie McMahon Resigns

WWE today announced that its Board of Directors unanimously elected Vince McMahon Executive Chairman of the Board.

Stephanie McMahon has resigned from her roles as Chairwoman and Co-CEO.

Nick Khan will serve as WWE CEO.

Vince McMahon:

“First, I’d like to express my full support for Stephanie’s personal decision. I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.

“I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability. Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.”

Stephanie McMahon:

“I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders.”

Nick Khan:

“Stephanie McMahon is a terrific executive and an even better person. It has been an honor to serve as Co-CEO with her. She will only continue to succeed.

“I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”

WWE Shareholders Considering Lawsuit In Response To Vince McMahon’s Return

Vince McMahon‘s return to WWE might lead to a lawsuit.

McMahon officially returned to the WWE Board of Directors on January 6, just a few months after the former CEO retired amid a WWE board investigation into allegations of sexual misconduct and hush money. The day before, McMahon confirmed his intention to return and participate in negotiations for media rights deals, and WWE announced his return on Friday. McMahon’s comeback came with a shakeup to the WWE board. An SEC filing revealed that JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler were removed, while Michelle Wilson and George Barrios returned to the board. WWE also announced that Ignace Lahoud and Man Jit Singh resigned from the board.

In an update, Dave Scherer of PWInsider shared an email that was sent to a friend, who is a party in the WWE shareholder derivative lawsuit that Scott and Scott filed after the allegations against McMahon first became public in June 2022. In the email, the lawyers note that they believe there is “enough of a basis to bring a breach of fiduciary lawsuit”, and they hope to file a complaint against McMahon, and potentially other officers for breaching their duties to the company and the shareholders.

A friend of mine, who is a party in the WWE shareholder derivative suit that was filed last June by Scott and Scott after the NDA allegations against Vince McMahon surfaced, sent me the following update email that he received today from the lawyers (with names redacted to ensure privacy):

I hope you had a great holiday season. I’m writing with an update on WWE. We have been working with the company for several months and have received several internal documents, which we have been reviewing. We expect to get an additional batch of documents this week.

You also may have seen the news this past week about Vince McMahon forcing his way back onto the board, along with a major board shakeup. As a result, we believe there is enough of a basis to bring a breach of a fiduciary lawsuit. We hope to file a complaint against McMahon and possibly other directors/officers for breaching their duties to WWE and its shareholders. We should have a draft for you to review in the next couple of days.

It will also require a signature on a one-page verification which we will also send. In the meantime, do you have a phone number we could use in case we need to contact you that way? Please let me know if you have any questions about anything.

January 9, 2023

WWE gains another 6% as it reports record WrestleMania gate

World Wrestling Entertainment is 6% higher, driving into its sale-chatter rally from the end of last week and pacing toward its fifth straight session gain, as it reports record gate revenue for its WrestleMania almost three months prior to it taking place.

WrestleMania 39 - what the company is calling WrestleMania Goes Hollywood, based in its Los Angeles setting - has surpassed its previous record of $17.3M for 2016's WrestleMania 32. Tickets are still on sale.

The event is set for Saturday and Sunday, April 1-2, and WWE has yet to announce which matches will take place there. It will stream exclusively on Peacock in the United States and on WWE Network elsewhere.

WWE stock (WWE) is now up 30% over its five straight winning sessions. It rose 17% Friday following news that former CEO Vince McMahon is hoping to return to the company's board and plot a sale of the company.

January 7, 2023

Who might want to buy WWE?

Vince McMahon rejoined the WWE board Friday to begin a potential sale process for his company.

WWE has hired JPMorgan to advise on a sale, sources say.

Legacy media, streaming giants and entertainment holding companies could all end up submitting bids to buy WWE.

A deal would likely happen before mid-2023, when TV rights renewal deal negotiations will also take place.

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