Thursday, March 28, 2024
NewsWWE Fired Employees To Prepare Themselves For Potential Sale

WWE Fired Employees To Prepare Themselves For Potential Sale

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Vince McMahon’s return to WWE’s Board of Directors last month caused many shareholders to sue the Executive Chairman for his attempt at a hostile takeover amidst Stephanie McMahon’s shocking resignation as the co-CEO of the company.

The Wrestling Observer Newsletter reports that WWE is cutting down on employees to reduce overall expenses and prepare the company for an eventual sale. Dave Meltzer wrote,

“There have been a lot more cuts on the corporate side in the past few weeks in different departments since the return of Vince McMahon. The belief is that these cuts are being made to lower the costs to get the company ready for a sale. Matthew Drew, who was the Senior Vice President of International, was the biggest name let go. He came from DAZN in June 2021 which means he was a Nick Khan hire, since Khan hired a number of people from DAZN in 2021. His job included managing global media partners, devising international strategy for overseas live events, digital, consumer products and new revenue opportunities.”

A few weeks ago, Matthew Drew, Senior Vice President of International, left WWE.

While Vince McMahon wants to execute a potential sale of his billion-dollar company by the end of 2023, Nick Khan opines that WWE could be sold within the next three months.

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