Last month, WWE’s McMahon family era ended after the company merged with UFC. On September 12th, TKO Holdings Inc. was officially listed on the New York Stock Exchange.
Recently, CEO of TKO Ari Emanuel appeared at Bloomberg’s Screentime conference, where he was asked about media rights deals for WWE RAW. Emanuel said that many are interested in WWE RAW. He then explained three reasons why TKO stock fell. One reason is NBCUniversal leaves others to negotiate for RAW and NXT media rights. Two, the Saudi Arabian Public Investment Fund invested in PFL. Three, Vince McMahon’s bad reputation.
“I would say to you there’s plenty of interest in Raw right now. I know people are like, ‘NBC is out of the mix,’ and that’s why it went down. I think there’s three things that happened. One the reasons the stock is down is they thought Raw was the best package. I saw a 40 percent increase which was in line with expectations… Two, the P.F.L. situation and three, probably Vince (McMahon) in our deal, wanted to be able to put, at any point in time, his stock. He’s 78 years old. He’s been working at this for decades and decades so, I think those three back-to-back issues…”
H/T WrestlingNews.co
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