The wrestling world is still buzzing from the sale of WWE, and subsequent merger with UFC. Endeavor’s COO recently hinted that layoffs could be coming soon, despite the fact that the two companies will operate separately.
WWE Layoffs Coming Due To Merger
Endeavor’s acquisition of the WWE was announced shortly after WrestleMania 39. While the company had a huge weekend, some major changes are about to roll out.
New management following the merger:
Ari Emanuel – Endeavor & NewCo CEO
Vince McMahon – NewCo Exec Chairman
Mark Shapiro – Endeavor & NewCo Pres./COO
Jason Lublin – Endeavor CFO
Andrew Schleimer – NewCo CFO
Dana White – UFC Pres.
Lawrence Epstein – UFC COO
Nick Khan – WWE Pres. pic.twitter.com/BPGlt6a5im
— Brandon Thurston (@BrandonThurston) April 3, 2023
Layoffs are very typical for companies that merge. Endeavor’s COO, Mark Shapiro reveals to Puck News’s Dylan Buyers that when the company purchased UFC, it cut $70 million in costs.
WWE Layoffs Coming Due To Merger – But Where?
He adds they expect to surpass costs with cuts, this time around. In fact, Endeavor plans to cut from “anything” to H.R., communications production, marketing, legal, and distribution.
He notes that in each department they can find cost synergies to integrate and appoint the “best and brightest” teams. But will talent be included in the cutting of costs, too?
With that said, WM 39 was quite a success. It’s a great sign that WWE live events continue to be a “healthy” business now that they lay under the Endeavor umbrella.
The transaction to sell the WWE to Endeavor is expected to be completed by the second half of this year. This will essentially merge the promotion with UFC into a new publicly traded company.
Speaking of, upon the announcement, WWE’s stock price increased by 10 percent. Meanwhile, Endeavor’s fell.
The report notes that is due to the debt Endeavor is taking on. Byer goes on to say that this means the company’s properties might be on the “chopping block”.
He also states that Endeavor could look into getting rid of some business like Florida’s IMG Academy, a high school that spotlights elite athletic prospects. It’ll be interesting to see what happens next.
Meanwhile, the WWE is set to start media negotiations for RAW (with USA Network) and SmackDown (FOX) soon. Their current deals are up in 2024.
Shapiro states that having Endeavor at the table with their assets and relationships should be helpful in the entire process. Time will only tell.
Over to AEW news, Tony Khan made a huge announcement during Dynamite recently. One that should make fans in London, England, ecstatic.
All Out Heading To England
Khan spoke during the second hour of AEW Dynamite. He states during his announcement that the All In pay-per-view (PPV) will take place in London, England this year.
The major event will be on Sunday, August 27th at Wembley Stadium. All In will be a part of the 100th-year celebration for Warner Bros.
As of this writing, there are no other details on the card or AEW talents who will participate. With that said, tickets for the PPV go on sale as of Friday, May 5th through LiveNation.co.uk or Ticketmaster.co.uk.
AEW’s Debut In The UK
All In will mark the first major AEW live event in the UK. While tickets are not on sale as of yet, fans can pre-register for early access at Ticketmaster.co.uk/AEWWembley.
Should make for a tremendous PPV. It’s nice to see that neck of the world getting some wrestling love for a change.
Categorized: Sports Wrestle Newz Wrestling