WWE CEO Vince McMahon Loses $350 Million, A Third Of His Fortune, In A Day

[BrAinPaiNt]

Even for someone who is familiar with beatings, Vince McMahon could not have been prepared for the drubbing that he had in store last week.

According to Forbes, McMahon, the chairman and CEO of WWE, lost $350 million in a span of 24 hours.

The loss was the result of a few factors, including lack of confidence in WWE's new online streaming network and a somewhat lackluster new TV deal. The new online streaming network has only picked up 700,000 subscribers since launching, and WWE said it expects the network to lose between $45 million and $52 million this year.


Read more... http://www.thepostgame.com/blog/dis...n-loses-350-million-third-his-fortune-one-day

 

[CowboyGil]

Wish I had $350 million to lose period.

 

[Phoenix]

Poor guy, what bad luck. All the way down to only $750 million now. I feel bad for the guy.

 

[CyberB0b]

He didn't lose anything.

 

[big dog cowboy]

Together, the weak performance of the online streaming network and Thursday night's announcement of the new TV deal led WWE's stock to drop $8.86 (from $20.13 to $11.27).

At the beginning of the year is was around $16 and at one point in March the stock was worth $31.98. It's down to $10.91 this morning. I'm not surprised it has gone down but never thought it would dive like that.

 

[BoysFan4ever]

I've just watched here for a few weeks & never have seen this Vince guy.

It's always his daughter coming out & her husband acting like they run everything.

Is that a story? I can't keep up with all these wrestling personalities. It's worse than Jerry & his spawn.

 

[jrumann59]

I've just watched here for a few weeks & never have seen this Vince guy.

It's always his daughter coming out & her husband acting like they run everything.

Is that a story? I can't keep up with all these wrestling personalities. It's worse than Jerry & his spawn.

I do believe HHH has some power but I think most of it resides within the McMahon family, Vince, Shane, and Stephanie. THe corporation shtick is tired and is a retread of a retread of a retread, and like all retreads eventually you will have a blow out.

 

[BoysFan4ever]

I do believe HHH has some power but I think most of it resides within the McMahon family, Vince, Shane, and Stephanie. THe corporation shtick is tired and is a retread of a retread of a retread, and like all retreads eventually you will have a blow out.

Who is Shane?

 

[Cowboy Brian]

Pitched a short on the stock back in March in the nationals of a case comp. .

 

[TellerMorrow34]

So am I understanding this correctly does this mean that they're moving RAW and Smackdown to different TV channels in the future?

I don't know if NBC, whatever they called it, owns USA and Syfy but I'm guessing part of the plummet is do to the fact that they're moving to an NBC channel which means likely watering down even further an already far to watered down product?

 

[Phoenix]

Who is Shane?

Shane is Vince's son. He was a "personality" for a while, even wrestling a bit here and there. But Shane walked away from the company, wanting to do something else, I forget what it was. I don't think Shane has ANYthing to do with the company any longer. But I think Vince's wife, Linda, still does doesn't she? Or was she forced to walk away also due to her political aspirations?

 

[BoysFan4ever]

Shane is Vince's son. He was a "personality" for a while, even wrestling a bit here and there. But Shane walked away from the company, wanting to do something else, I forget what it was. I don't think Shane has ANYthing to do with the company any longer. But I think Vince's wife, Linda, still does doesn't she? Or was she forced to walk away also due to her political aspirations?

Ok. Thanks. So it is a family business.

 

[Phoenix]

Ok. Thanks. So it is a family business.

Very much so. Vince bought his daddy out in fact.

 

[MonsterD]

Did he not lose this much o the XFL? Guess I will look that up now. Oh he only lost 35 million on it, a pittance compared to this. Seriously only 70 million lost on the XFL? What did they pay their players and stadiums and staff etc in, Werther's originals?

 

[MichaelWinicki]

It could go down further.

The market that Vince & Co. has created is geared for the 12 to 30 market primarily.

At one time pro wrestling cut across a wide variety of demographic and age groups. But it's not like that anymore.

In addition I think the lack of true competition is hurting the product.

 

[BoysFan4ever]

I barely started watching & it is the same thing.

The show on Monday night is too long.

 

[DFWJC]

Hey, both he and Dwayne Harris are East Carolina Pirates, so cut the man some slack.

 

[Section446]

The quality of the product has really gone down over the past decade or so.

 

[Rockport]

Since everyone knows it's fake, why do people watch it? I don't get it.

 

[daschoo]

Since everyone knows it's fake, why do people watch it? I don't get it.

You do know Breaking Bad wasn't real don't you?