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Vince McMahon Takes Actions in Support of Plan for WWE to Undertake a Review of Strategic Alternatives and Capture Unique Opportunity to Maximize Long-term Value for All Shareholders

 

Submits written consent to WWE Board electing himself and Company veterans George Barrios and Michelle Wilson as Directors

Actions are necessary to ensure McMahon's full participation in upcoming media rights negotiations and review of strategic alternatives

GREENWICH, Conn., Jan. 5, 2023 /PRNewswire/ -- Vince McMahon, the founder and controlling shareholder of World Wrestling Entertainment Inc. ("WWE" or the "Company") (NYSE: WWE), announced today that he has taken necessary actions to position the Company to capitalize on a unique opportunity to maximize long-term value for all WWE shareholders. The actions, communicated to WWE's Board of Directors today via written consent, include the election to the Board of Mr. McMahon, as well as Michelle Wilson and George Barrios – former WWE Co-Presidents and Board members, and currently the Co-Founders and Co-CEOs of Isos Capital Management – and the requisite removal from the Board of three directors. Mr. McMahon expects to assume the role of Executive Chairman of the Board.

Mr. McMahon's new role will enable unified decision making through the Company's upcoming media rights negotiations and a parallel full review of the Company's strategic alternatives, which Mr. McMahon believes is the right course of action and in the best interests of WWE and WWE shareholders amidst the current dynamics in the media and entertainment industry. As Mr. McMahon has communicated to the Board, he believes there is a narrow window of opportunity to create significant value for all shareholders and that to do so, the strategic alternatives review must occur in tandem with the media rights negotiations. He also expressed to the Board that he believes these two initiatives require Mr. McMahon's direct participation, leadership, and support as controlling shareholder.

"WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms," said Mr. McMahon. "The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder."

Prior to delivering written consent, Mr. McMahon sent two separate letters to the Board in late December in which he expressed the urgency of his return to the Company as Executive Chairman and his desire to work collaboratively with the Board and management team. Following conversations with representatives of the Company both before and after Mr. McMahon's most recent letter on December 31, Mr. McMahon determined, consistent with his rights as controlling shareholder, that the steps announced today are necessary to maximize value for all WWE shareholders.

Mr. McMahon said, "Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives. As former WWE Co-Presidents and Board members, they are intimately familiar with industry dynamics and the organization's operations and have helped guide the Company through past successful media rights negotiations. I look forward to working closely again with Michelle and George – as well as the Company's remaining directors and management team, who have my full support and confidence. WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."

In conjunction with the changes to WWE's Board, Mr. McMahon's written consent also includes certain amendments to the Company's bylaws to ensure that WWE's corporate governance continues to properly enable and support shareholder rights. These changes will be detailed in a Schedule 13D amendment to be filed by Mr. McMahon and a Form 8-K to be filed by the Company in the coming days.

No assurances can be given regarding the outcome or timing of the review process. Mr. McMahon does not intend to comment further until the process has concluded or Mr. McMahon has otherwise determined that further disclosure is appropriate or required.

Michelle Wilson Biography

Ms. Wilson is Co-Founder and Co-CEO of Isos Capital Management. She is a leading sports and entertainment c-suite executive and, prior to founding Isos with Mr. Barrios, most recently served as Co-President and Board Member of WWE until January 2020. In 2018, Forbes named Ms. Wilson one of the 10 Most Powerful Women in Sports. She also was featured on the Adweek 50 list, which highlights the leading executives in Media, Marketing and Technology, and named one of Sports Illustrated's 10 Most Influential Women in Sports. She joined WWE in 2009 and prior to her appointment as Co-President, served as Chief Revenue and Marketing Officer.

Previously, Michelle served as the Chief Marketing Officer of the United States Tennis Association, oversaw all marketing efforts for the launch of the XFL, a partnership between WWE and NBC, and held consumer products and brand management positions at the NBA and Nabisco, respectively. She received her MBA from Harvard Business School and currently serves on the Boards of Bowlero Corporation and Turtle Beach Corporation.

George Barrios Biography

Mr. Barrios serves as Isos Capital Management's Co-Founder and Co-CEO. He is an award-winning c-suite executive and most recently served as Co-President and Board Member of WWE until January 2020. In 2017, Institutional Investor ranked George among the Top 3 CFOs in the Media Industry as part of its All-America Executive team rankings. He joined WWE in 2008 as its Chief Strategy and Financial Officer.

Previously, he held leadership roles in finance, strategy and operations at the New York Times, Praxair, Time Warner and HBO. He received his MBA from the University of Connecticut School of Business and currently serves as the National Board Chair of the Make-A-Wish Foundation.

Kirkland & Ellis is serving as legal counsel to Mr. McMahon.

Forward Looking Statements

This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding Mr. McMahon's return to the Board as Executive Chairman, the impact of Mr. McMahon, Ms. Wilson and Mr. Barrios as members of the Board, the timing and success of the Company's media rights negotiations and the Company's review of strategic alternatives. In addition, the words "may," "will," "could," "anticipate," "plan," "continue," "project," "intend," "estimate," "believe," "expect," "outlook," "target," "goal," "guidance" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These statements relate to future possible events, as well as plans, objectives, expectations and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from future results expressed or implied by such forward-looking statements. These forward-looking statements are subject to uncertainties relating to, without limitation, the matters referred to in this release, the complexity of the Company's rights agreements across distribution mechanisms and geographical areas and the Company's review of strategic alternatives. Forward-looking statements speak only as of the date made and are subject to change without any obligation to update or revise them. Undue reliance should not be placed on these statements.

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Full Transcript from Today’s WWE Meeting Led By Stephanie McMahon, Nick Khan and Frank Riddick - January 6th, 2023

 

As noted, WWE Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan, and President & CFO Frank A. Riddick III led a meeting via call earlier this afternoon to address the return of Vince McMahon to the WWE Board of Directors, and his plans to pursue a sale of the company, among other issues. The meeting was held at 3:45pm ET today, and was for all employees, but not talent. The meeting went for around 10 minutes.

Courtesy of Wrestlenomics, a full transcript of what was said by Stephanie, Riddick and Khan has been revealed. You can use the links below the transcript to read the absolute latest on Vince and WWE, the recent reports and press releases, backstage reactions, and more.

Below is the transcript and aforementioned links:

 

Stephanie McMahon (WWE Co-CEO): Vince McMahon is coming back to the board of directors. He has made it clear upon his return what he’s really most excited about is the media rights opportunity in front of us that we’ve all been discussing and tying that to a strategic alternative process. And we wanted to make sure we got with everyone as soon as possible so you were aware of this message and also so we can explain a little bit more about it. And hopefully, we can answer questions moving forward. This format doesn’t allow for it. But, Frank, I kick it to you. I’m not going to attempt to explain strategic alternatives. I’d do a very basic level. Frank has the details, so go ahead, Frank.

Frank Riddick (WWE President, Chief Financial Officer): Sure, so at a very high level, what Vince has proposed and the process that would be followed would be to engage with a banker and prepare some background information on the company and present that to various potential partners for the company to evaluate whether there are any strategic transactions that would enhance the value of the company to all constituencies, including shareholders. And the idea is, as Steph said, the timing of this is largely driven around the upcoming media rights renewal and to do something that could enhance, in addition, those renewal discussions. So that would include — when we say “strategic initiatives”, “strategic alternatives” for the company — could include a broad range of potential transactions, everything from a combination with another company, an acquisition of the company by someone, or a take-private transaction, taking the company private and/or just simply some sort of cooperation joint venture agreement. So it’s pretty broad and I just would add a couple of things to that. One is, of course, there’s no assurance that any transaction will actually happen or any transaction will be forthcoming that makes economic and strategic sense for the company. And, of course, Vince is the controlling shareholder and controls the vote of the stock of the company is the ultimate decider as to whether there’s a transaction that can happen. So just to close out, all this from Nick and Steph and my perspective is very positive for the company. It’s a great time to look at alternatives and make sure that the company is well-positioned for the future. I think as everybody is aware, there’s a lot of changes that have happened in the media landscape in the last couple of years, even in the last six months. And there’s probably from a value of content perspective never a better time in history for the company to look at something like this. So hopefully that gives you a better perception of what that means.

Stephanie McMahon: Thanks, Frank. And then, Nick, how does that work as it’s tied to media rights and why is that a great strategic opportunity for us?

Nick Khan (WWE Co-CEO): Thanks, Steph, so these things work hand-in-hand with one another. For example, since our U.S. media rights are up in October of ‘24, for any conglomerate — so think Disney, Comcast, Netflix, etcetera — any conglomerate that might be interested in WWE would be interested in purchasing the company outright. They very well may be interested in doing a media rights deal, but obviously, we couldn’t do a media rights deal, let’s say, with Comcast and then go sell to Disney. Those sort of companies would want to make some sort of acquisition prior to those media rights being up. So the timing is spot on for that. In terms of the day-to-day of the company, nothing is changing. Steph is in her role, I’m in my role, Frank’s in his role, Paul is in his role, Kevin Dunn is in his role. And we would ask everyone to stay focused on the business as hand [sic]. We’re going to engage in this process. We’re going to look at it with open eyes and open hearts. We’re going to ultimately see what’s out there. And Vince will make his decision, as Frank said, as the controlling shareholder, as to what he wants to do with the company. For now, let’s focus on business as hand, if we could.

Stephanie McMahon: Great, thanks, Nick. This feels so formal since none of us are in the same room. And I just wanted to add also, rejoining the board is Michelle Wilson and George Barrios, who for those of you who were here remember them as co-presidents. They have so many years of experience here in WWE. And they’ve now been off on their own creating their own business and have a lot to offer from a media standpoint, certainly from an M&A standpoint. So they will be — and they’re very familiar with the company — so they will be joining the board, not management, as Nick was spelling out. So again the management structure stays the same, but Vince has joined the board, and obviously, as the controlling shareholder. And again, I just wanted to wrap up with reinforcing, a) there may have been a lag on this video, so just to let you know it has been recorded and will be shared if you missed anything; b) when Frank talks about how well-positioned WWE is and our performance, the reason why we’re doing so well is, again, because of all of you, because of our employees, who bring everything that they have to table every single day. And we’re just, we’re grateful, we’re appreciative, and we want you to know that our employees are incredibly important to us, and we recognize all of your contributions, and you will be well-informed throughout this process. We don’t want there to be — obviously there’s going to be some animosity — or not animosity, angst, natural emotions that you might feel, and we want to make sure that we’re on top of this and we’re communicating with you and everyone has all the information that they need. So again thank you to all of you. This is an exciting time. It shouldn’t be a scary time. It’s an exciting time for WWE. Our founder is back on the board and is going to help lead this process. And thank you to all of you. It’s an exciting way to kick-off 2023.

 

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WWE PROVIDES UPDATE REGARDING COMPOSITION OF ITS BOARD OF DIRECTORS AND EXPLORATION OF STRATEGIC ALTERNATIVES

 

STAMFORD, Conn., January 6, 2023 – WWE (NYSE: WWE) is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives.

“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”

As Vince McMahon stated yesterday, “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."

In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.

Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.

The Board currently consists of:

Vince McMahon
Stephanie McMahon
Nick Khan
Paul Levesque
Steve Koonin
Michelle McKenna
Steve Pamon
George Barrios
Michelle Wilson

Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.

About WWE

WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TVPG programming can be seen in more than 1 billion homes worldwide in 30 languages through world class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.

Additional information on WWE can be found at wwe.com and corporate.wwe.com.

 

 

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Vince McMahon interview on The Pat McAfee Show: full coverage - March 3, 2022

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Vince McMahon will do his first long-form interview in years on today’s episode of The Pat McAfee Show. The expectation is that McMahon will do an angle on this show to set up a match with McAfee at WrestleMania 38 in Dallas. It was hinted during Monday Night Raw that Austin Theory might be appearing on today’s show as well. WrestlingNews.co will cover the interview in real-time. Refresh this page for updates.

Live notes/recap:

– The interview was originally scheduled for 2 pm eastern and then it was pushed to 2:15 pm eastern.

– At 2:03 pm, McAfee said that he isn’t sure if McMahon has landed yet but he is going to be in the studio at some time in the hour. McAfee said he can’t wait to pick his brain to talk about some of the decisions he has made and he wants to ask questions about things that we haven’t heard answers from.

– McAfee said he got a call and was told that McMahon doesn’t need any prep time. McAfee said he has no clue what is going to happen, despite what has been said online and there are no time restrictions. McAfee says he genuinely has no clue what is happening ahead of time on SmackDown and what you hear is his genuine reaction.

– Vince showed up at 2:23 pm. McAfee said he appreciates Vince appearing in-studio because this is big for his show.

– Vince talked about not believing in ceilings. Vine said everything he and his staff do is calculated and he listens to them before making decisions. On the decision to move to streaming, Vince said lawyers try to tie your hands in terms of creativity and owning you and for him, it’s more about creative control and creating your destiny.

– Vince stays out of the conversation when people try to pat him on the back. “I’m just who I am.” He says if he listens to the positives then he has to listen to the negatives and he’s not big on negatives. Vince says the members of the media will say what they want to say. “If people think you’re an asshole, you can’t change that. I’m a good guy, I love my family.” He said you can’t change perception when you are a public personna. He only cares what the general public thinks. He said it took a while to stop caring about the critics. Vince said he can’t care what the media says or what people who don’t understand him say about him.

– On not liking the word “wrestling” Vince says he wanted to separate from everyone else. He said his dad has his own brand, the World Wide Wrestling Federation and it was brilliant. Vince joked that “the panda got us” and he didn’t know that the World Wildlife Fund existed and it was a “no win” lawsuit because the company was tried in England so he decided to “get the F out.”

– Vince said he has a lot of creative people in the company and he listens because you can’t learn if you’re talking…sometimes.

– Vince announced that he will induct The Undertaker into the Hall Of Fame.

– McAfee talked about competition and specifically mentioned AEW buying ROH. Vince said he loves confrontation and he says that he lived “through the beating” as a kid so he has nothing to be afraid of. Vince said there was never a conversation about Taker going to WCW, not one.

– Vince talked about growing up in the trailer park but he didn’t think he was “somebody” until around WrestleMania 4 or 5 but he said he’s just like everyone else but he’s fortunate to do what he does and he is fortunate to be alive.

– McAfee asked him to follow up on the statement that he’s lucky to be alive. Vince said that he’s just lucky to do what he loves.

– Vince said that it’s just business when he lets people go and sometimes people need to look in the mirror but they like to pass blame.

– Vince named WrestleMania 1 as one of his favorite moments. He talked about not having the money he said he had to fund the first WrestleMania.

– McAfee asked if he has seen the person who plays him on “Young Rock” and Vince said no. Vince talked about the territory days and said that there were times when people threatened him. He recalled a story that Jim Ross told him about Bill Watts trying to figure out what to do about Vince going national. Vince said that four promoters were in the restroom talking about how to take out Vince and JR happened to hear this in the restroom stall and pulling both feet up so he couldn’t be seen and “mother nature is calling at the same time.”

– On Saudi Arabia, Vince says the people there area just like other people and WWE has had a presence there for years and the fans there are enthusiastic about western culture even though they don’t love our government. He said WWE fits in everywhere. Vince said, “people are people and cultures are cultures and you have to respect that.”

– Vince was asked how he finds time to do so much. Vince said he’s not like anybody else in the world. He finishes training around 3 am and he starts around 1:30. He says he overtrains even though it’s not good for him but it’s the only socially acceptable way to let out aggression. He does it for his head more than he does it for his body and he tries to eat right. “It really helps me more mentally and psychologically” so he can handle the things that come at him. Vince said he hasn’t had doubts about what he’s wanted to do but sometimes he’ll make decisions and he learns from mistakes. He said he doesn’t have a down day.

– On starting the WWE Network before streaming was a big deal, Vince said he makes decisions based on common sense.

– Vince was asked how much he thinks about the future. Vince says he loves branding and marketing and the word “stupendous” is not used much in everyday speak and things like that is what he thinks about.

– Vince says he is “wide open” in regards to being creative and you have to be able to accept whatever comes in from whatever source. He feels that he has a “second wheel” going on in his brain and sometimes a third one but sometimes it can get very confusing.

– In regards to balancing thoughts about the future and the current product, he said he doesn’t always know where things are going to go but if something becomes available, he figures out how WWE will fit. Vince said when someone graduates from WWE you know how to treat people and you show respect because “respect is huge in everything we do.” Vince said people hug each other and shake hands backstage and the basis of that is that wrestlers have to work with each other to avoid serious injury.

– McAfee says Vince always listens to him during their chats. McAfee says everyone sees Vince as a “robot as a person” and people think he will live forever. Vince said before he dies he wants one second to say “thank you” and he wants to be thankful to be alive. McAfee said he has about 26 years left to live until 101, the same age that his mother lived to.

– On talk about WWE no longer being his one day, Vince says if you build something he wants it to prosper and grow with or without a family member and he wants it to prosper even if you are not part of it. Vince said he has always expected more from his family members and you have to do the right thing for the business and if things are not working out then you shouldn’t he part of the company.

– McAfee was about to end the interview but Vince was willing to stick around to answer questions from McAfee’s staff/co-host.

– Vince said he wanted to offer something to McAfee. Vince said he wanted to offer an opportunity to wrestle at WrestleMania. Vince did not say that he would be the one to wrestle McAfee.

– Vince was asked if it’s harder to create Superstars. Vince said it’s a team effort when creating Superstars. Vince then went into a story about The Undertaker being pressured to do the spinarooni and almost breaking character. Vince said uses the term “Superstars” instead of wrestlers because “anyone can wrestle” and “do you want to be a professional wrestler or a WWE Superstar” and “WWE Superstar sounds better than a professional wrestler.” He said you have to have acting talent and the want to grow because if you are not growing then you’re dying and you have to really get into your character in the ring and some people are confused and act the same way in their private life. Vince said “the really good ones” are all in with their character but they can shut it off after the show. Vince said it’s important for mental health to not be the same character out of the ring.

– Vince said during COVID he never wanted to miss a show and he credited the performers for working hard at what they do. Vince acknowledged that things were different with the NFL because they are a little more higher profile. Vince talked about doing shows at the Performance Center with no audience and how difficult that was for the performers.

– Vince said WWE has a focus group every night (the fans at shows) and it does not matter what he wants if the fans say otherwise. Vince said “you can tell” when something is working or not and a portion of the internet audience can be biased and he doesn’t listen to those people.

– Vince said that he has to overcome the stereotype that he’s not cool or hip and he tries to give people as much creative ability as possible but “you don need to lead, you can’t just wait.”

– McAfee praised Vince and said that he learns from him and said that Vince, since the beginning, has let Pat just do his thing. Vince said that if he didn’t like what McAfee was doing then he wouldn’t be doing it. Vince said McAfee appeals to the audience and he has fun.

– On Brock Lesnar, Vince said he is an extraordinary human being and a “smart son of a b*tch.” He says people think he’s a neanderthal but “he’s smarter than you pal.”

– Vince was asked if he keeps in touch with his top guys like Steve Austin, Goldberg, etc. Vince said he keeps in touch with “some” and he’d love for them to stay in touch with him but he’s busy but he tries to have the company stay in contact with them.

– Vince talked about the Attitude Era being so much fun and the 80’s was the wild west and they had a blast. Vince talked about the bedpan skit with Stone Cold and Mick Foley. Vince said Austin came up with the idea to hit Vince in the head with the bedpan and it was fun to do that.

– Vince said live TV is when you’re on the edge and nothing can go wrong and it’s exciting, despite the pressure and he lives for that.

– McAfee mentioned Michael Cole Vince joked that Cole is a “horrible human being.” McAfee asked if Vince still gets excited before shows and Vince said he does. Vince said if the vision of a story comes out the way he wants then it’s awesome and he gets chill bumps like everyone else.

– Vince talked about the travel and sometimes it’s difficult for the corporate types to grasp what WWE does because they are like no one else. Vince said it takes a grind and a toll to leave your home and be on the road all the time. He said that it’s extraordinary that so many people want to do this together and he doesn’t see this as a grind, but he sees it as a privilege. Vince said no one will ever know when he’s tired. Vince said he can have a horrible meeting or phone call but he won’t bring that emotion into his next meeting.

– McAfee asked if he looked at books or other leaders. Vince said his grades weren’t good enough for college and he is sure he had every learning disability there was and he was expelled for fighting and he never learned how to study. He said he needed summer school to get into college and it took 5 years for a 4-year curriculum in East North Carolina College. Vince said Linda got through her curriculum in 3 years. Vince said he didn’t have the grades to graduate and he found out where the professors lived and he knocked on their door and he got his grade changed from a B+ to an A- but the other professor wasn’t so nice and there was a confrontation. He said he graduated from college because the first professor changed his grade.

– Vince was asked if he ever considered himself a WWE Superstar. Vince said he had to during the Attitude Era and he said “I’m really Steve Austin” and he understood the underdog philosophy. Vince joked that it’s easy to get people to dislike him. Vince said he would much rather be on the other side of the camera.

– McAfee asked if Vince has had injuries other than his blown quads. Vince said he had no use of his legs when that happened at Royal Rumble 2005 and he had to learn how to talk again during rehab. He says he had neck surgery, triceps surgery, spinal surgery and the injuries came from a combination of a lot of things. Vince talked about squatting 1,000 pounds and he only does that once a month. Vince put over his staff as good people and quality human beings.

– McAfee talked about the heat he got a few years back for wearing shorts during a WrestleMania pre-show and Vince appreciated that he wore the shirts. McAfee said Vince has been genuine and cool with him.

You can also watch the interview by clicking below:

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'They should move to any other night, get away from us' - Chris Jericho slams WWE with a bold statement - 4th September 2020

"They lost! There's nothing wrong with conceiting defeat and moving to a different night." Chris Jericho had a lot more to say.

There are rumors about WWE possibly moving NXT to a different night.


AEW Dynamite and NXT have aired on different days for the past few weeks. As expected, the results have been quite positive for both companies. Both shows have drawn huge numbers without any competition, and there is also talk about NXT possibly moving out from the Wednesday slot. Chris Jericho, who has always been on the offensive when it comes to AEW's ratings victories over WWE, has sent another bold message to the WWE.

During a recent appearance on the Busted Open radio show, the Demo God addressed the rumors of WWE contemplating a change of day for NXT.

Chris Jericho said that he wasn't surprised that the WWE was planning on retreating from the Wednesday Night Wars. The AEW Superstar sent a direct message to his former employers that they should move to another night. Chris Jericho felt that WWE had a great program, and their spiteful tactic of going up against AEW was only hurting NXT's ratings.

Chris Jericho says WWE should just conceit defeat

Chris Jericho declared that AEW isn't going anywhere and that Dynamite would continue to beat NXT. Jericho felt that WWE retreating is the right move from a business standpoint. 'Le Champion' isn't bothered about NXT breaching the 800k or 900k barriers as he and AEW are focussed on getting over the 1 million mark. He also spoke about the importance of the 18-49 demographic.

Chris Jericho said that the WWE lost, and there is nothing wrong for them to conceit defeat. The former AEW World Champion concluded by proclaiming that no one can stop All Elite Wrestling.

Here's Chris Jericho's full statement on the rumors of WWE moving to another night and the ongoing ratings war:

"Once again, it was never a war for me. This is a war that was thrust upon us by a company that is very petty and very spiteful, and we know the reason why NXT was moved to Wednesday nights. To mess with us. We get it. We pay attention to what we are doing. We don't care what they're doing, and we have no interest in it. If you watch us, you get the ratings, where we beat them week after week. We beat them in the demos where people think it's jokes. The only thing that matters is the TV networks and advertisers that listed the 18-49 demo. Look it up. We win every week. They should retreat. They should move to any other night. Get away from us! You guys got a great program, and it's good; why would you want to sacrifice your own ratings just to be spiteful and petty to go head to head with AEW? We're not going anywhere and put on anything you want - we'll continue to beat you. It is a retreat, but it's also the right move from a business standpoint. Get your head out of your rear end and just worry about your product the same way we worry about ours. If they move to Tuesday, smart move. That way, you guys can get your 850 thousand, 900 thousand. Whatever! Get 10 million viewers. Congratulations! Let us do our thing, and we'll get over a million. I think it's a smart move business-wise on theirs. They lost! There's nothing wrong with conceiting defeat, moving to a different night, and worrying about your show and not worrying about going head to head with AEW because you can't stop us." H/t WrestlingInc

While Chris Jericho is just doing his job of putting over AEW, many fans would argue that both shows airing on different nights would be the right decision as they can watch both shows. The ratings and viewership figures from the past few weeks have proven that putting out shows on separate days could be ideal for moving forward.

Also, don't forget to check out the latest interview from Sportskeeda in which our very own Gary Cassidy caught up with Chris Jericho. The legendary star discussed a plethora of topics, including the possibility of Brock Lesnar coming to AEW, the origins of his nickname, Jon Moxley, Orange Cassidy, and much more.

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(SportsKeeda)