Vince McMahon loses $340 million
As reported yesterday, WWE had a dramatic day at the Wall Street NYSE, due to the lack of confidence in the announcement of the renewed NBC Television deal and the heavily invested WWE Network not performing in numbers as expected, WWE shares saw a drop of over 43% by end of play yesterday. As a result WWE owner Vince McMahon has reportedly lost $340 million overnight. The graphs below, taken from BBC Business News
World Wrestling Entertainment Inc. – Share Timeline Overview
You can see in the last month that WWE shares have dropped dramatically yesterday. The yearly graph indicates that yesterday’s spike have moved WWE Shares back to where they were in October last year. WWE stocks rise due to the launch of the WWE Network and Vince “promising” to double revenue from the new TV deals. After WWE release subscription numbers for the WWE Network shortly after Wrestlemania XXX, shares slowly dropped. As a result of the sharp drop, Vince McMahon has called upon an emergency conference call, taking place on Monday.
Payback match Confirmed
On Friday night Smackdown, John Cena accepted Bray Wyatt’s challenged to announce the third match of the feud between Wyatt and Cena; a Last Man Standing match on June 1st at the Payback Pay Per View event. At Wrestlemania John Cena, surprisingly beat Bray Wyatt in a singles match. In a rematch inside a steel cage, Bray beat John Cena after “Little Johnny” creeped John Cena out.
The rubber match so to speak takes place in John Cena’s seemingly speciality match. In each of Cena’s last man standing matches, Cena has delivered a fascinating match. His match against Umaga at Royal Rumble 2007, silenced alot of critics, Cena carried the match and performed one of his best matches against the Samoan Bulldozer picking up the victory after chocking Umaga out with the ring ropes. Cena picked up a creative victory against Batista at Extreme Rules 2010 by using the most feared weapon of them all “Duct Tape”.
Cena normally delivers in last man standing matches and hopefully Cena can bring out the best of Bray Wyatt in what will be an intense battle at Payback.