Scott Hall Refuses To Attend Convention
Though there’s no sign of a relapse, Scott Hall reportedly texted promoter Kirk White last night and said he was unable to attend today’s Big Time Wrestling convention in California, because he was in a “dark place”.
The Wrestling Observer notes that DDP and his son Cody were unable to get him out of bed this morning, due to an apparent bout of depression. Hall described this as “medical problems” on Twitter:
[There are always highs and lows with people suffering from depression. After such a radical turn around and a great Hall of Fame appearance, Hall was bound to get the blues again. I wish him all the best if this is indeed the case].
Investors Still Unhappy With WWE
Investors are still upset with WWE and what they feel was their misrepresentation of the new TV deal. Former Attorney General of Louisiana is now launching an investigation:
WWE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL:
Kahn Swick & Foti, LLC Investigates World Wrestling Entertainment Inc. Following Disclosure of Disappointing Distribution Agreement
NEW ORLEANS, May 16, 2014 (BUSINESS WIRE) — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into World Wrestling Entertainment Inc.
On May 16, 2014, WWE disclosed that it had reached a multiyear deal with US broadcaster NBCUniversal for its long-running Raw and SmackDown programs, stating that the annual value of its television distribution agreements would reach $200 million, well below what investors were expecting. Daniel Moore, an analyst with CJS Securities, said in a research note that, “Given management’s more optimistic tone and the fact that other major sports franchises have garnered much higher increases, this outcome is likely to be viewed as disappointing by many investors.”
On this news, the value of WWE’s stock plummeted by over 43%.
KSF’s investigation is focusing on whether WWE and/or its officers and directors violated state or federal securities laws.
Jim Ross chimed in on all the negativity on his JRSBARBQ.com blog:
Many financial outlets writing gloom and doom for WWE after the announcement of WWE’s new rights fees deal with NBC/Universal which essentially keeps WWE on USA and SyFy for the next few years. The new rights fee was less than expected/predicted but I can certainly see light at the end of the tunnel. The key driver is to earn more fans and develop regular consumers of their core product. How is that done?
No mystery…develop new, hot stars that are embroiled in reality based, personal issue storylines on a consistent that all fans can emotionally invest in while watching easy to follow TV broadcasts. That process takes time, the right talents, plausible creative, and keeping the process simple but stimulating.
For the long haul and as the stock continues to descend likely for the next few days, I’m thinking that for many investors that the WWE stock is a viable consideration to invest in and that’s if one is a long term investor. I’m no stock analyst but I do think that the stock will rebound in time without question.
I also assume that the entire WWE/NBC/Universal package and business deal is still under wraps and more news will be announced in the near future but let me stress this is merely my speculation and not based on any inside info whatsoever.
Personally I think that Smackdown is best aired live on Tuesday night which fits the WWE production model because live TV, to me, is a better watch than a taped program that is talked to death all week online and via various social media outlets.
I experienced, while with WWE, some trying times in the mid 90’s that were far more challenging than today’s marketplace for WWE so I’m more interested to see who rolls up their sleeves and works smarter and harder in making the brand better over the long haul.
As always, the key to the genre is talent and television. Recruiting and training great, young talents plus producing consistent, episodically viable, weekly TV will always be the key.
The WWE Network is still a great value and an investment that I am happy that I made so I can get my wresting fix whenever I choose at an affordable price.
May 16, 2014, WWE SmackDown Results
– John Cena kicked off SmackDown, accepting Bray Wyatt’s challenge for a Last Man Standing Match at WWE Payback.
– The Usos def. Cody Rhodes & Goldust, when Jimmy hit the top rope Splash on Cody.
– El Torito def. Heath Slater.
– Nikki Bella def. Natalya.
– Dolph Ziggler def. Batista by Disqualification, when Batista hit a low blow. After the match he destroyed Ziggler with a Batista Bomb.
– Sheamus def. Titus O’Neil, with the Brogue Kick.
– Santino Marella def. Damien Sandow, with the Cobra.
– Cesaro def. R-Truth, with the Neutralizer.
– John Cena def. Erick Rowan, with the Attitude Adjustment, after the Usos evened the odds outside the ring.