New Details on the Lawsuit Against WWE Over Saudi Arabia TV Negotiations

0
80


New details come from the modified version of the class action lawsuit against the WWE over the course of their Saudi Arabia business. WrestleNomics has posted court documents of the complaint filed by the Firefighters pension and Retirement System of the City of Kansas City, Missouri Confidence against the former WWE Co-Chairs George A. Barrios and Michelle Wilson, with Vince McMahon and the WWE, claiming that WWE has deceived the investors on their TV deal in the Middle East and North Africa as well as other aspects of their operation in the region.The complaint, which, as noted above was a former WWE talent confidential witness, said that the WWE would not have to disclose their TV deal with the NSOS of the region to be ended early when the NSO began to struggle financially, and became delinquent in the payments of rights. The WWE has sent ITS Notice of the material Breach in September 2018, after which the NSOS of the judgment of its sports channels as a cost-cutting measure and requested early termination. NSOS in general, the board has informed the WWE of their intentions in November and the two sides reached an agreement on 18 December, to enable NSOS to terminate the agreement as of March 31, 2019.

The WWE would have been looking for a new broadcast partner and try to get an agreement with Middle East Broadcasting Center (MBC). An employee of MBC has said that the WWE was “wildly unreasonable expectations of the expected revenue from a potential distribution partner”, saying that the WWE has proposed an $ 80 million annual licensing fee. They said that the WWE’s projected more than 100 million OTT subscribers, on the basis of the number of OSN subscribers who have watched the WWE. However, MBC projections would have been that the WWE would be to get 6.5 million subscribers “at most.” The WWE has rejected this estimate and MBC have raised their estimate of 10 million subscribers to be cooperative, and then to $ 15 million “only for the sake of the WWE, not because MBC felt that the projections were realistic.”

The employee said that the WWE lowered their asking price for the licensing of $ 50 million, which was still well above the $ 14.5 million that MBC felt was her upper limit. The negotiations ended there. The WWE has yet to announce a new TV deal in the region, in spite of the information of the investors that they should have the agreement by the end of 2019.



LEAVE A REPLY

Please enter your comment!
Please enter your name here