WWE

McMahon is now worth less than $1 billion.

WWE: Vince McMahon is no longer a billionaire

Published 1 Comments

WWE Chairman and CEO Vince McMahon is no longer a billionaire after company stocks dropped today.

Forbes report that McMahon lost $340 million on Friday alone as WWE released details of a new TV deal.

Wrestlingrumors.net reported that WWE stocks stood at $10.34 on Friday morning, down considerably from their peak of $31.98.

It is believed that the sudden drop in prices is in relation to the new TV deal with WWE struck with NBCUniversal to return to their networks. As a result WWE have failed to meet the expectation that they would dramatically increase their television income.

However, there are also worries about the performance over WWE Network and doubts over the sustained ability of the company to attract new subscriptions. Currently subscriptions are less than half of the desired 1.5 million at the moment.

The company had come off a string of successful events including the 30th edition of Wrestlemania which drew a capacity crowd at the New Orleans Superdome.

WWE fans will be hoping that McMahon and the company are able to turn this defeat around and continue to make money.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms

Topics:
Wrestlemania
WWE
Vince McMahon

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author

DISCLAIMER

This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport - WWE Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again