There may already be a movie titled “The Nine Lives of Vince McMahon,” but it seems they’ll need to make a sequel, because it looks like he has a tenth. McMahon is reportedly taking steps to return as executive chairman of World Wrestling Entertainment, according to multiple outlets.
McMahon stepped down from his position as chairman and CEO in July, amidst reports of sexual misconduct and monetary pay-offs to women. But he retained voting power on the company’s board of directors, essentially meaning he could vote himself back into the top position whenever he desired.
That time has come, thanks to impending media rights contract negotiations that McMahon feels are imperative that he be a part of. Though speaking in the third person, McMahon said that his return 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.”
One of the “strategic alternatives” currently under discussion is an outright sale of WWE. Comcast has been the most frequent partner mentioned in merger and acquisition talks, as its streaming service Peacock already owns the domestic streaming rights to WWE’s monthly premium events, as well as its vast archives. Wrestling was a key driver of subscriptions to Peacock in 2022, helping the service double its paid subscriber total in the past year.
It’s unclear where McMahon’s return to WWE leaves Hulu in the discussions of future rights agreements. The broadcast deals for “Monday Night Raw” and “NXT” — which air on NBCUniversal’s USA Network — and “Friday Night Smackdown”— which airs on FOX— are all up in 2024. Hulu holds the streaming rights to “Friday Night Smackdown” until then, and next-day streaming rights to “Monday Night Raw” through the end of 2023, thanks to a November renewal.
At the time of that new deal, WWE executives seemed satisfied with the web of contracts that scattered its broadcast and streaming rights over so many different networks. But it’s entirely possible that McMahon is returning because he has a different vision in mind as he has told the WWE board that he would refuse to support any more media rights deals or potential sales unless he had a direct say in the negotiations, according to the Wall Street Journal.
Questions about the future of WWE and its media rights will be answered in the months leading up to 2024. Until then, all that can be said for sure is Vince McMahon is back, and he’s likely not leaving again without a very large pile of money for his trouble.
Peacock
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