WWE is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives

Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”

As Vince McMahon stated yesterday, “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."

In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.

Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.

The Board currently consists of:

Vince McMahon

Stephanie McMahon

Nick Khan

Paul Levesque

Steve Koonin

Michelle McKenna

Steve Pamon

George Barrios

Michelle Wilson

Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.

You can’t kill Vince McMahon

Vince McMahon Trying To Get Back Into WWE For Media RIghts Negotiations

According to Lauren Thomas of the Wall Street Journal, Vince McMahon is planning to return to WWE in order to pursue a sale of the business. McMahon has reportedly told the company that he is electing himself and former co-presidents and directors, Michelle Wilson and George Barrios, to the board.

This move will require three current directors to vacate their positions.

Previous attempts for McMahon to be reinstated have been rebuffed by the board and he will need board approval if he assumes the role as executive chairman, which he reportedly expects to do.

McMahon still has majority voting power due to his ownership of WWE Class B stock.

The report goes on to state the board responded last month in a letter to Mr. McMahon that it was prepared to initiate a review process and would welcome working with him on it. It was reportedly unanimously agreed that Mr. McMahon’s return to the business wouldn’t be in shareholders’ best interest.

McMahon has reportedly communicated to the board that unless he has direct involvement as executive chairman from the outset of a strategic review, he won’t support or approve any media-rights deal or sale.

WWE media rights for WWE Raw and WWE SmackDown are reportedly set to be negotiated in the near future as the contracts for both shows end in 2024.

Vince McMahon sent out the following press release:

GREENWICH, Conn., Jan. 5, 2023 /PRNewswire/ -- Vince McMahon, the founder and controlling shareholder of World Wrestling Entertainment Inc. ("WWE" or the "Company") (NYSE: WWE), announced today that he has taken necessary actions to position the Company to capitalize on a unique opportunity to maximize long-term value for all WWE shareholders. The actions, communicated to WWE's Board of Directors today via written consent, include the election to the Board of Mr. McMahon, as well as Michelle Wilson and George Barrios – former WWE Co-Presidents and Board members, and currently the Co-Founders and Co-CEOs of Isos Capital Management – and the requisite removal from the Board of three directors. Mr. McMahon expects to assume the role of Executive Chairman of the Board.

Mr. McMahon's new role will enable unified decision making through the Company's upcoming media rights negotiations and a parallel full review of the Company's strategic alternatives, which Mr. McMahon believes is the right course of action and in the best interests of WWE and WWE shareholders amidst the current dynamics in the media and entertainment industry. As Mr. McMahon has communicated to the Board, he believes there is a narrow window of opportunity to create significant value for all shareholders and that to do so, the strategic alternatives review must occur in tandem with the media rights negotiations. He also expressed to the Board that he believes these two initiatives require Mr. McMahon's direct participation, leadership, and support as controlling shareholder.

"WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms," said Mr. McMahon. "The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder."

Prior to delivering written consent, Mr. McMahon sent two separate letters to the Board in late December in which he expressed the urgency of his return to the Company as Executive Chairman and his desire to work collaboratively with the Board and management team. Following conversations with representatives of the Company both before and after Mr. McMahon's most recent letter on December 31, Mr. McMahon determined, consistent with his rights as controlling shareholder, that the steps announced today are necessary to maximize value for all WWE shareholders.

In conjunction with the changes to WWE's Board, Mr. McMahon's written consent also includes certain amendments to the Company's bylaws to ensure that WWE's corporate governance continues to properly enable and support shareholder rights. These changes will be detailed in a Schedule 13D amendment to be filed by Mr. McMahon and a Form 8-K to be filed by the Company in the coming days.

bylaws to ensure that WWE's corporate governance continues to properly enable and support shareholder rights. These changes will be detailed in a Schedule 13D amendment to be filed by Mr. McMahon and a Form 8-K to be filed by the Company in the coming days.

No assurances can be given regarding the outcome or timing of the review process. Mr. McMahon does not intend to comment further until the process has concluded or Mr. McMahon has otherwise determined that further disclosure is appropriate or required.

McMahon has stated that he remains willing to continue working to complete any reimbursement for reasonable expenses related to the investigation, to the extent they aren’t covered by insurance.

McMahon reportedly also declined the offer to not return to the company.

Source: fightful.com

Paul Levesque Named As One Of Westfair’s 2022 Persons of the Year

During 2022, Westchester and Fairfield County saw surplus number of professionals rise to the top of their industries with innovative leadership skills, often addressing tumultuous social and economic situations with inspirational intellect and an undiluted sense of passion for their work.

In compiling our list for 2022’s Persons of the Year, we are reminded that the concept of “business as usual” is nowhere to be seen in this gathering of the region’s best and brightest.

Paul Levesque, chief content officer of WWE, Stamford.

After the scandal involving longtime WWE Chairman and CEO Vince McMahon’s departure amid press reports of hush money paymentsto former female employees regarding alleged harassment, the company moved far beyond mere damage control with a new vibrancy focused on inventive marketing — most notably the clever “White Rabbit” multimedia campaign highlighting the reappearance of wrestler Bray Wyatt — and a response to fan input by returning popular wrestlers who were previously forced out by McMahon. Much of the credit for this new level of excitement has been traced to Levesque, who is best known to wrestling fans as “Triple H.” Levesque’s content focus has helped boost TV ratings and put WWE stock up 15% higher than its level when McMahon was still in charge — and financial analysts are no longer dropping rumors of the company being a target for sale.

Vince McMahon’s Planned WWE Comeback Is Predictable But Not Feasible

Vince McMahon Reportedly Planning To Make WWE Comeback Amid Allegation Demands

The Wall Street Journal released a new report about McMahon and he is facing legal demands from two women who allege that he sexually assaulted them, per internal documents and people familiar with the legal negotiations. On 11/3, the lawyer of Rita Chatterton, former WWF referee who accused McMahon of rape, sent a demand letter to McMahon’s attorney Jerry McDevitt. 

She is asking for $11.75 million in damages. The letter was reviewed by the Wall Street Journal. McMahon has denied Chatterton’s allegation. 

In a separate email sent to McDevitt, the lawyer of a former spa manager is claiming that McMahon assaulted his client in 2011 at a California resort. Per the Journal, those familiar with McMahon’s reaction have shared that he refuses to pay settlements to Chatterton and the spa manager. 

In addition to those notes, it is noted in the piece that McMahon has told people he intends to make a comeback to WWE. He feels he received bad advice from those close to him to step down and he believes the allegations and investigations would have blown over if he stayed in his position. McMahon remains the largest shareholder of WWE. 

Rumor Mill - WWE Looking To Launch A New Reality Show On E!

WWE is working on launching a reality television show.

In the latest edition of the Wrestling Observer Newsletter, Dave Meltzer reported, "Whether this comes to fruition, there are talks with E! about a new reality show."

The company already has broadcast a number of successful reality shows including, Tough Enough, Total Divas, Total Bellas, and Miz & Mrs. The company will also soon launch the Bianca Belair and Montez Ford reality TV series.

Meltzer's report notes that WWE is looking for legitimate wrestling couples for the new show.

"So some upcoming signings could relate to that if the project is finalized. The Matt Cardona name was mentioned as possible if the deal goes through since Chelsea Green is in."

Axios Highlights WWE Business Success Following Vince McMahon's Exit

For most companies, the departure of a CEO would usually result in a wave of uncertainty from investors, and can often even result in the stock price tanking. However, that simply hasn't been the case for WWE in 2022. The company has performed exceedingly well in the aftermath of longtime CEO Vince McMahon's departure over the summer, and news website Axios has now declared WWE "2022's media winner."

Nearly every major publicly traded entertainment company has seen its stock plummet this year, except World Wrestling Entertainment.

The company now has a market capitalization of nearly $6 billion, up from a little under $4 billion when it signed a landmark five-year streaming distribution deal with Peacock in 2021.

Why it matters: Investors are bullish on WWE as an acquisition target, especially in light of a hush money scandal that led to the retirement of the company's longtime leader and controlling shareholder Vince McMahon in July.

Details: WWE, along with other independent sports entertainment companies, could be hot targets for streaming companies looking to bolster subscriber numbers and global followings.

While WWE's exclusive U.S. streaming rights deal with Peacock doesn't expire until 2026, its two biggest live TV deals with Fox and Comcast are set to lapse in 2024.

Between the lines: Earlier this month, WWE ended its monthslong investigation into alleged misconduct by McMahon, concluding that he made nearly $20 million of previously undisclosed payments, most of which went toward settling sexual misconduct claims.

But the company has had a relatively smooth leadership transition in the wake of the scandal, keeping investors optimistic about its long-term growth strategy.

The return of live events following COVID-era lockdowns this year has been a boon for WWE.

The bottom line: Much of WWE's revenue is tied to long-term media contracts and big events, which has helped the company dodge much of the advertising-driven headwinds plaguing other media firms.

Stephanie McMahon Discusses Triple H’s Creative Vision For The White Rabbit Project

During the Wells Fargo 2022 TMT Summit (via Fightful), Stephanie McMahon spoke about the success of the White Rabbit Project in WWE and Triple H’s creative vision for it. The project caused TV viewership and live event attendance to go up and eventually led to the return of Bray Wyatt.

She said: “In terms of in-ring content, under Paul Levesque, it’s one of the key strengths that he was one of the biggest performers in the history of our business. He understands what it takes to be a successful superstar, one of the most successful. He understands audience connection and how to create content in a way I don’t think many do. When you think about the changes he’s made, the talent he’s brought back, not only bringing back stars, but how he’s doing it. For example, we were bringing back one of our biggest stars, Bray Wyatt, whose character is a bit of a cult-type leader. We used a multi-media approach and hired a horror writer to help us craft this narrative so fans were engaged. We started doing QR codes randomly in the background. It’s what we called the White Rabbit Project. There were interactive games, there were different misleads. We had one puzzle that was coordinated to a record store in Corbin, Kentucky that was White Rabbit Records. It happened to be that the people at the store played along. Our fans would call and ask, ‘What’s going on? Is someone returning? What’s happening at WWE?’ They would use some of the language we were using in the campaign and then hang up the phone. One of the codes drove us to a date, and that date happened to be the SmackDown that was happening. It looked like it could be a date or a time code, September 23 or 9:23. At 9:23, we saw viewership increase 20% over that time period. It’s strategies like that, that work because the audience is different and they’re growing and evolving. Some people want to have a lean-back experience, and that’s great, but a lot of people want to engage deeply and have fun and have misleads and misdirections. The worst thing in the world is when things are predictable from a content perspective. We want to make them unpredictable.“

WWE Plans To Bring Stadium Show To Major International Market

WWE's global expansion is set to make another big splash. In the company's presentation at this week's Wells Fargo TMT Summit in Las Vegas, WWE Chairwoman Stephanie McMahon talked about WWE's top priorities heading into 2023 and revealed its recent streaming deal in Australia is expected to lead to a major stadium event there.

While speaking about the company's plans to continue pushing its global expansion, McMahon noted that WWE's deal with Australia's Foxtel Group includes plans to host a major live event in the country. "We need to bring a stadium event to Australia as well," she said.

WWE signed its deal with Foxtel Group in September. The deal will see the WWE Network get folded into local streaming giant Binge much like how the service has been integrated into Peacock in the U.S., according to Deadline, which first reported the news.

"International is a focus for us," McMahon said this week. "We have discussed in the past, but now we really have the opportunity to create what we call global localization — or 'glocal' — where we can create local performance centers with local talent and replicate the lines of business that we have here in WWE, but do it on a much smaller scale and hopefully that will ladder up into the bigger product and eventually creating a World Cup-type product that would be very fun and exciting."

McMahon added that expanding globally "also .. is an opportunity for talent to rotate throughout and we can have local stars that ultimately come up to the main roster of WWE."

This year, WWE held its Clash at the Castle event in Cardiff in September and continued its annual Crown Jewel event in Saudi Arabia last month.

WWE's 20th Anniversary of "Tribute To The Troops"

WWE will honor U.S. military servicemembers later this month with its 20th anniversary of "Tribute To The Troops."

The event will take place on Saturday, Dec. 17 at 2:30 p.m. ET and can be seen on FOX. A star-studded slate of superstars is expected to be on the card.

Braun Strowman, current SmackDown Women’s Champion Ronda Rousey, Drew McIntyre, Sheamus, Imperium and others are set to be in action for the special, WWE said.

"In what is considered WWE’s most patriotic and heartwarming show of the year, the company began ‘Tribute To The Troops’ to honor our servicemen and women and their families and thank them for their continued sacrifice to our country," the company said in a news release obtained by Fox News Digital.

Shawn Michaels announces the Iron Survivor Challenge for NXT Deadline

WWE Hall of Famer Shawn Michaels returned to NXT to announce the brand new Iron Survivor Challenge, a new match type that will pit NXT superstars against each other to determine the No. 1 contenders for both the NXT Championship and the NXT Women’s Championship.

Five superstars will compete in this unique 25-minute Match as they battle each other and the clock.

Two superstars will start the match and every five minutes a new superstar will enter the match until all five are in the ring.

The goal is to have the most falls when the clock hits 25 minutes.

Falls can be won at any time via pinfall, submission or disqualification.

When a superstar scores a fall they will earn one point.

However, when a superstar loses a fall, that superstar must pay the penalty. They are forced out of the ring and into a penalty box for 90 seconds.

Once the 90 seconds are up, the superstar can re-enter the match.

The superstar who has scored the most falls when the clock hits 25 minutes will be named the Iron Survivor and become the No. 1 Contender for the NXT Championship and NXT Women’s Championship respectively