WWE held what was being called an “all hands on deck” meeting this afternoon, and a new report details what was discussed as well as who was leading the meeting.
According to a report from PWInsider, the meeting was led by WWE President Nick Khan. The report notes that the meeting was mostly to boost morale backstage and to thank talent for all their hard work in the changing landscape of the company.
There was reportedly no discussion of potentials cuts being made following the company’s acquisition by Endeavor, and there were no major announcements made.
WWE Set To Merge With UFC To Form TKO Group Under Parent Company Endeavor
Back in April, it was announced that WWE was set to merge with UFC to form a new $21+ billion entity under parent company Endeavor. Talk of a sale had been in the news for months, ever since Vince McMahon returned to the Board of Directors in January after retiring last July amidst an investigation into alleged sexual misconduct and hush money payments.
Endeavor head Ari Emanuel will serve as CEO of the new corporation, which will be called TKO Group and is listed on the stock exchange under the symbol TKO. Vince McMahon has been named Executive Chairman of the Board, while Dana White and Nick Khan will serve as UFC and WWE Presidents respectively.
Speaking in an April interview with Lightshed Live, Khan confirmed that the company would be making aggressive cuts following the merger, citing the success of UFC after it was acquired by Endeavor.
“If you look at what Endeavor was able to take out, cost-wise, from UFC in 2016 or shortly after that deal was done, we have the same expectation here. We think 50 (million) is a really conservative number. We have integration teams now, we’re going to get those in shape, I think we’ll have a better sense of it in a month or two. We’re going to be pretty aggressive with them to make sure that, for our shareholders and for our company, our organization is as lean and mean as possible, and we’re going to rely on the Endeavor flywheel to make up the rest.”