President-elect Donald Trump and WWE Chairman Vince McMahon attends a press conference in Green Bay, Wisconsin back in 2009. (Photo : Getty Images/Mark A. Wallenfang)
The professional wrestling and entertainment company WWE has always been a family-controlled business since its inception in 1948. However, it seems that the enterprise CEO and chairman Vincent McMahon now has a change of heart, as he said during an earnings call on Oct. 27, Thursday, that he was ready to entertain offers.
"We are open to anything," McMahon said during the earnings call. However, the pro wrestling boss said he had one condition. In case of an acquisition, WWE should have the freedom to be in control of its destiny. Commenting on McMahon's statement, FBN Securities analyst Robert Routh said the finally the WWE may be amenable to being acquired, Forbes reported.
The 71-year-old pro wrestling czar's statement to mull over offers does not come as a surprise, as McMohan recently traded 1.55 million Class A stock shares for about $32.5 million. Earlier this year, WME/ IMG acquired UFC, the main competitor of WWE in combat sports, for $4 billion.
Nevertheless, it would be interesting to watch how the professional wrestling and entertainment company functions if McMohan eventually decides to relinquish his empire. Already Stephanie McMahon and Tripe H, the two executive vice-presidents of WWE, have been playing vital roles in the enterprise and are believed to succeed Vincent McMohan.
Despite being an exceptional fusion of sports and entertainment and embarking on The New Era, several key indicators, including television ratings and revenue, of WWE showed a turn down in Q3 of the current fiscal. On the other hand, the audience was somewhat higher - up to 5,300 every show than the 5,100 attendance per show during the corresponding period in 2015.
Meanwhile, WWE is said to be negotiating to acquire TNA wrestling, Rolling Stones reported quoting Smashing President frontman Billy Corgan's lawsuit against Impact Ventures. The lawsuit stated that Impact Ventures is bankrupt and the enterprise's liabilities are far higher than its asset value. According to the lawsuit, currently Impact Ventures is not in a position to repay its debts.
The filings that were released earlier this week said that Corgan has urged in an injunction he should be given complete control of TNA. Corgan argued that he had a loan agreement with Dixie Carter, TNA chairman who is reported to have assured to transfer her 100 percent equity interest TNA.
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