That’s a heck of a hit. There is little denying that WWE is the biggest and most powerful wresting company in the world. No one has been able to realistically challenge them in over twenty years and, despite AEW’s best efforts, it is hard to imagine anyone really challenging them anytime soon. They are so far ahead that it almost doesn’t matter what they do, but that doesn’t mean they are immune to damage.
As powerful as WWE has been, it is also clear that things are not entirely perfect. They have been plagued by attendance figures for years and now and a lot of wrestlers have been trying to leave the company. While they are still making a fortune based on their incredibly lucrative television deals, things have been taking a hit for a long time now and it got very bad last week.
According to Bloomberg, WWE lost over $1 billion on Friday due to the company’s stock taking a major hit. WWE’s stock price dropped 28% on Friday in anticipation of the upcoming fourth quarter financial report. The news resulted in both WWE co-Presidents Michelle Wilson and George Barrios being let go at the same time. The fourth quarter financial reports are scheduled to be released on Thursday.
That’s a lot of money. Check out some money related situations for WWE:
Opinion: Ouch. What else is there to say here? This was a horrible day for WWE and I’m not sure how long it is going to take for everything to bounce back. These financial reports being negative is becoming a trend and while they have all kinds of money to spend, I’m not sure what one of these things after another means. It certainly isn’t good, but now the question is how bad things can get.
How bad will the financial reports be? What will be done to change WWE for the better? Let us know in the comments below.
Thomas Hall has been a wrestling fan for over thirty years and has seen over 50,000 wrestling matches. He has also been a wrestling reviewer since 2009 with over 5,000 full shows covered. You can find his work at kbwrestlingreviews.com, or check out his- Amazon author page with 30 wrestling books. His latest book is KB’s Complete 2004 Monday Night Raw Reviews.
Get the latest and greatest in professional wrestling news by signing up for our daily email newsletter. Just look below for “GET EXCLUSIVE UPDATES” to sign up. We are proud to offer our popular Wrestling Rumors app and encourage you to download it for an optimized user experience. It is available for Android and also on iOS. Thank you for reading!