Vince McMahon lost $350 million today.

[tk13]

And you thought you had a bad day.

http://www.forbes.com/sites/danalexa...lion-in-a-day/

WWE CEO Vince McMahon No Longer Billionaire After Losing $350 Million In A Day

Vince McMahon lost $350 million as of market close on Friday, as shares in his WWE took a beating from investors. The stock was down more than 40% since the market open. In fact, the stock, which had closed just below $20 on Thursday, opened down below $11. That immediately knocked the WWE boss out of the billionaire ranks, putting his net worth now at an estimated $750 million.

The stock fell after news that WWE had signed a new television deal with NBCUniversal for less than some investors had hoped. Benchmark analyst Mike Hickey estimated WWE got a 50% raise over its last TV agreement, but he expected the new deal to pay WWE double or triple its previous one.

“The company’s valuation could take a heavy beating this morning, as the new domestic TV deal with NBCUniversal likely disappointed investors,” he wrote in a report downgrading the price target for the company’s stock from $29.12 to $19.96.

WWE executives kept an even tone but offered little additional guidance. “We never commented publicly on the expectation,” said George Barrios, chief strategy and financial officer. “We said we were undervalued by the math that we had done.”

The new TV deal hit at a turbulent time for WWE and McMahon. The company’s shares shot up 89% in the first three months of 2014, and McMahon’s net worth peaked in mid-March at $1.6 billion. But shares dropped 29% the week after WWE announced its new online streaming network had only 667,000 subscribers, taking a $325 million chunk out of McMahon’s fortune. He remained a billionaire until this morning.

Some investors saw the trouble coming. Intrepid Capital Management, once WWE’s largest outside investor, sold its 10% stake in January. Intrepid’s Jayme Wiggins told Forbes in a feature story on McMahon that he thought the billionaire was getting too excited about his new online streaming network.

That concern remains, but Wiggins now has additional questions after reading the company’s financial projections provided in the news release about the TV deal. The online streaming network should break even when it has 1.5 million subscribers, according to Wiggins, but WWE said its operating income will be just $40-$60 million at that point—even with new TV deals that will add $90 million to the company’s revenue.

“The question is why their numbers are so low given this renewal,” Wiggins said. “With the information that they put out there, it seems to imply that their core business isn’t making money.”

[alpha_omega]

Sure has come a long way since I used to watch Bulldog Bob Brown apparently.

I had no idea that it was that big of a business. Well, guess I knew it was big, but not THAT big.

[mcaj22]

I can't believe all the ****ing cry baby morons in this thread.

They are better athletes than football players.

Brock ****ing Lesnar has done more athletically than anyone on the Chiefs. Ever. It's a fact, it's on ****ing paper and it's a part of history. He was the best collegiate wrestler in the world at one point, crossed over to REAL FIGHTING and became the #1 heavyweight while almost ****ing dying.

Kurt Angle was an OLYMPIC WRESTLER. He is one of four people to win a grand slam in amateur wrestling (junior nationals, NCAAs, World Championships and the Olympics)

MARK HENRY was a ****ing OLYMPIC weightlifter

Dolph Ziggler and Jack Swagger were top echelon collegiate division 1 wrestlers


the fact that you guys think these dudes are some non athletic joke is ****ing laughable.

[Stad]

Originally Posted by DaFace

People still watch wrestling?

[kcxiv]

Wrestling is labeled as Sports Entertainment.

NFL football is labeled as Sports Entertainment.

Yeah...

[LoneWolf]

Originally Posted by mcaj22

I can't believe all the ****ing cry baby morons in this thread.

They are better athletes than football players.

Brock ****ing Lesnar has done more athletically than anyone on the Chiefs. Ever. It's a fact, it's on ****ing paper and it's a part of history. He was the best collegiate wrestler in the world at one point, crossed over to REAL FIGHTING and became the #1 heavyweight while almost ****ing dying.

Kurt Angle was an OLYMPIC WRESTLER. He is one of four people to win a grand slam in amateur wrestling (junior nationals, NCAAs, World Championships and the Olympics)

MARK HENRY was a ****ing OLYMPIC weightlifter

Dolph Ziggler and Jack Swagger were top echelon collegiate division 1 wrestlers


the fact that you guys think these dudes are some non athletic joke is ****ing laughable.

Brock Lesnar is a great athlete, but to say he's a greater athlete than every football player is borderline psychotic. He tried out for the Minnesota Vikings and was cut in preseason. There are quite a few NFL players that were state champion wrestlers in high school. I'm sure many if these could have went on to college and been very successful wrestlers as well, but they chose to play football.

I don't think anyone was saying that WWE wrestlers were non-athletic. People made comments about every on of them being on steroids, but nobody said they weren't athletic.

[CoMoChief]

this still cracks me up everytime I watch it.

[Dayze]

the best part of the vid that always gets me to laugh, is it appears he has a notepad with which he's taking notes.

[Gonzo]

Originally Posted by Reaper16

I'm a MASSIVE fan of pro wrestling. It's the closest thing we have to Greek theatrical storytelling. I love every bit of it.

If it is intellectual enough for ****ing Roland Barthes to write about it, then it should be intellectual enough for anyone.

Well... That's it then.

Where's my ****ing lipstick?

[Dragonocho]

http://tosh.cc.com/video-clips/ch9qe...-wrestling-fan

I was unaware Tosh did a Web Redemption with Dave.

[Dayze]

yeah, it was awesome. Tosh as the Ultimate Warrior running around for the first 2 minutes lol

[keg in kc]

Him talking with the MMA girl who tapped the 17-year old guy out is pretty funny too.