WWE held their annual shareholders meeting yesterday in Stamford, Connecticut. While meetings such as this can produce several newsworthy tidbits, they can also be very boring. I have recapped the points that are of interest and saved you from the monotony.
- Vince McMahon said he believed WWE’s stock price has dropped below $8, making new all-time lows because of unfavorable 2011 business results.
- There are still distribution deals for WWE NXT and WWE Superstars but have been strategically held back. Announcements are coming “very shortly” according to McMahon.
- McMahon said he doesn’t think the company should lower pay-per-view prices and believes more people are congregating to watch pay-per-views in a tough economy. He blamed the lack of PPV buys on the economy rather than a lack of interest.
- Triple H said the company’s developmental expansion plans are still in the works and stressed that developmental is the lifeblood of their company.
- McMahon said there hasn’t been any thought about a physical WWE Hall of Fame but it’s something they would consider in the future.
- One shareholder wanted to know if the company had considered putting Wrestlemania on free TV and charge advertising like the Super Bowl. Vince McMahon said if the NFL could put the Super Bowl on PPV they would make more money. He said he didn’t know of a network that would pay them the rights fees they could make in terms of pay-per-view profits.
- There were very vague answers to questions regarding the WWE Network with no timetable for launch available. Much of the same rhetoric that has been recapped for the past several months was used.
- Vince McMahon said the company was considering airing pay-per-views on the WWE Network but no decision has been made.
- McMahon said WWE “Classics On Demand” will likely go away when the network launches.
You can watch the entire shareholders meeting at this link.