WWE

Vince McMahon admits disappointment with NBCUniversal deal

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WWE CEO Vince McMahon has attempted to provide clarity over his business plan following three days of stock market chaos by insisting his core strategy remains "rock solid", but did admit that the newly-signed TV deal with NBCUniversal was not entirely satisfactory.

McMahon agreed terms for Raw and Smackdown to stay on the NBC network for an annual fee of $150m last Thursday, but analysts and market traders but were both seriously unimpressed with a 70% hike as the company's share price tumbled by an amazing 45% to $11.32 a night.

The 68-year-old hosted a conference call alongside WWE financial executive George Barrios and came out fighting to defend his business model, although he did offer a concession that the new NBC terms were well short of what he predicted.

He told reporters that WWE did far better with international renewals and the deal was, :"Not what we wanted and not what our research showed us (domestically)

McMahon added that the investment was:  "A good deal; but not what we wanted."

The launch of WWE Network represents a chance for the company to make up lost ground and ensure subscriber numbers eventually surpass those visiting regularly on PPV, but in truth McMahon's empire has been in far more dire straights and managed to bounce back in the not too distant past.

WWE fans will still be able to watch Raw and Smackdown on USA and Syfy respectively, with the flagship shows still absolutely integral to driving the business forward in the United States.

Further afield WWE also has the dilemma of how best to integrate WWE Network if at all, something it must be considering this week as it embarks on a tour of the United Kingdom.

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Topics:
WWE
Vince McMahon

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