About WWE
World Wrestling Entertainment, Inc. (doing business as WWE, Inc.;NYSE: WWE) is an American publicly traded, privately controlled entertainment company dealing primarily in professional wrestling, with major revenue sources also coming from film, music, product licensing, and direct product sales. It is currently the largest professional wrestling company in the world, reaching 13 million viewers in the U.S. and broadcasting its shows in 30 languages to more than 145 countries. It promotes under two brands, known as Raw and SmackDown.
Vince McMahon is the majority owner, chairman and chief executive officer (CEO) of the company. Together with his wife Linda McMahon, and their children Shane McMahon and Stephanie McMahon-Levesque (WWE Executive Vice President of Talent and Creative Writing), the McMahons hold approximately 70% of WWE's economic interest and 96% of the voting power in the company. The company's headquarters are located in Stamford, Connecticut with offices in New York City, Los Angeles, London, Shanghai, Tokyo, Singapore, and Mumbai.
WWE holds an extensive library of videos, representing a significant portion of the visual history of professional wrestling. The company began as the Capitol Wrestling Corporation in 1952, which promoted under the banner of the World Wide Wrestling Federation (WWWF) and later the World Wrestling Federation (WWF). In 1982, it was sold to the same family's Titan Sports company, which later changed its name to World Wrestling Federation Entertainment, before becoming World Wrestling Entertainment in 2002, and simplified to WWE in 2011.
History of WWE
Roderick James "Jess" McMahon was a boxing promoter whose achievements included co-promoting a bout in 1915 between Jess Willard and Jack Johnson. In 1926, while working with Tex Rickard (who actually despised wrestling to such a degree he prevented wrestling events from being held at the third Madison Square Garden in New York City between 1939 and 1948), he started promoting boxing at the Garden. The first match during their partnership was a light-heavyweight championship match between Jack Delaney and Paul Berlenbach.
A few years earlier, around 1920, professional wrestler Joseph Raymond "Toots" Mondt had created a new challenge of professional wrestling that he called Slam Bang Western Style Wrestling to make the entertainment more appealing to spectators. At the time, pro wrestling consisted primarily of mat grappling; and while the sport had flourished a decade earlier under Frank Gotch, the fans had since grown tired of the painfully deliberate pace of the bouts. However, Mondt discovered a solution that would completely transform the industry, as he convinced Lewis and Sandow to implement a new form of wrestling that combined features of boxing, Greco-Roman, freestyle, lumber-camp fighting, and theater into what he deemed “Slam Bang Western-Style Wrestling.” He then formed a promotion with wrestler Ed Lewis and his manager Billy Sandow. They persuaded many wrestlers to sign contracts with their Gold Dust Trio. After much success, a disagreement over power caused the trio to dissolve and, with it, their promotion. Mondt formed partnerships with several other promoters, including Jack Curley in New York City. When Curley was dying, Mondt moved to take over New York wrestling with the aid of several bookers, one of whom was Jess McMahon.
Together, McMahon and Mondt created the Capitol Wrestling Corporation Ltd (CWC). The CWC joined the National Wrestling Alliance in 1953. In November 1954, Jess McMahon died, and Ray Fabiani, one of Mondt's associates, brought in Vincent James McMahon to replace his father in the promotion. McMahon and Mondt were a successful combination, and within a short time, they controlled approximately 70% of the NWA's booking, largely due to their dominance in the heavily populated Northeast region. Mondt taught McMahon about booking and how to work in the wrestling business. Due to the dominance in the northeast, the CWC was referred to by AWA legend Nick Bockwinkel as the "Northeast Triangle", with its territory being defined by Pittsburgh, Washington, D.C., and Maine as points of the triangle.
World Wide Wrestling Federation
The NWA recognized an undisputed NWA World Heavyweight Champion that went to several different wrestling companies in the alliance and defended the belt around the world. The NWA generally promoted strong shooters as champions, to give their worked sport credibility and guard against double-crosses. While doing strong business in the Midwest (the Alliance's core region), these wrestlers attracted little interest in the Capitol territory. In 1961, the NWA board decided instead to put the belt on bleach blonde showman "Nature Boy" Buddy Rogers, a much more effective drawing card in the region. The rest of the NWA was unhappy with Mondt because he rarely allowed Rogers to wrestle outside of the Northeast. Mondt and McMahon wanted Rogers to keep the NWA World Championship, but Rogers was unwilling to sacrifice his $25,000 deposit on the belt (title holders at the time had to pay a deposit to insure they honored their commitments as champion). Rogers lost the NWA World Championship to Lou Thesz in a one-fall match in Toronto, Ontario on January 24, 1963, which led to Mondt, McMahon, and the CWC leaving the NWA in protest, creating the World Wide Wrestling Federation (WWWF) in the process.
In April, Rogers was awarded the new WWWF World Championship following an apocryphal tournament in Rio de Janeiro. He lost the title to Bruno Sammartino a month later on May 17, 1963, after suffering a heart attack shortly before the match. To accommodate Rogers' condition, the match was booked to last under a minute.
Two years later, NWA president Sam Muchnick and McMahon discussed a unification match between Thesz and Sammartino, with both parties agreeing to Sammartino winning the unified title. The match plans fell apart when Sammartino refused to take on the enlarged schedule and Thesz demanded a high guarantee for doing the job.
The WWWF operated in a conservative matter compared to other pro wrestling territories; it ran its major arenas monthly rather than weekly or bi-weekly, usually featuring a babyface champion wrestling various heels in programs consisting of one to three matches, with the initial meeting often featuring a heel win in a non-decisive manner. Although business was initially rather strong, crowds in Madison Square Garden fell off due to a lack of television exposure. After gaining a television program on a Spanish-language station, and turning preliminary wrestler Lou Albano as a manager for Sammartino's heel opponents, the WWWF was doing sellout business by 1970. Albano was soon joined by fellow managers Ernie Roth and Fred Blassie, forming the "Triumverate of Terror," managing heel opponents for Sammartino and later champions Pedro Morales and Bob Backlund. Heels such as Ivan Koloff and Stan Stasiak were used to transition the title from one babyface to another; Superstar Billy Graham enjoyed a nine and a half month reign as a heel champion, as McMahon felt he would need this much time to build up Bob Backlund as championship material.
Mondt left the company in the late sixties. Although the WWWF had withdrawn from the NWA, Vince McMahon, Sr. quietly rejoined the organization in 1971, although he did not book an NWA world champion in his territory until Harley Race in the late 1970s. At the annual meeting of the NWA in 1983, the McMahons and WWF employee Jim Barnett all withdrew from the organization.
In March 1979, for marketing purposes, the World Wide Wrestling Federation was renamed the World Wrestling Federation (WWF).
WWF:World Wrestling Federation
On February 21, 1980, the son of Vincent J. McMahon, Vincent K. McMahon, founded Titan Sports, Inc. and on June 6, 1982, purchased Capitol Wrestling Corporation Ltd. from his father and other stock holders (Arnold Skaaland, Gorilla Monsoon, and Phil Zacko). The elder McMahon had long since established the northeastern territory as one of the most vibrant members of the NWA. He had long since recognized that professional wrestling was more about entertainment than actual sport. Against his father's wishes, McMahon began an expansion process that fundamentally changed the industry.
The WWF was not the only promotion to have broken ranks with the NWA; the American Wrestling Association (AWA) had long ago ceased being an official NWA member (although like the WWF, they seldom left their own territory). However, neither of the defecting members attempted to undermine the territory system that had been the foundation of the industry for more than half a century.
Other promoters were furious when McMahon began syndicating WWF television shows to television stations across the United States, in areas outside of the WWF's traditional northeastern stronghold. McMahon also began selling videotapes of WWF events outside the Northeast through his Coliseum Video distribution company. He effectively broke the unwritten law of regionalism around which the entire industry had been based. To make matters worse, McMahon used the income generated by advertising, television deals, and tape sales to poach talent from rival promoters. Wrestling promoters nationwide were now in direct competition with the WWF.
Hulk Hogan, due to his appearance in Rocky III, had a national recognition that few other wrestlers could offer, which is what led McMahon to sign him. Roddy Piper was brought in, as well as Jesse Ventura (although Ventura rarely wrestled in the WWF at that point due to the lung disorder that caused his retirement, moving to the commentator booth alongside Gorilla Monsoon). André the Giant, Jimmy Snuka, Don Muraco, Paul Orndorff, Greg Valentine, Ricky Steamboat, and the Iron Sheik (Hossein Khosrow Ali Vaziri) rounded out the roster. Hogan was clearly McMahon's biggest star, causing some people[who?] to debate whether the WWF could have achieved national success without him.
The WWF would tour nationally in a venture that required huge capital investment; one that placed the WWF on the verge of financial collapse. The future of not just McMahon's experiment, but also the WWF, the NWA, and the whole industry came down to the success or failure of McMahon's groundbreaking concept, WrestleMania. WrestleMania was a pay-per-view extravaganza (in some areas; most areas of the country saw WrestleMania available on closed-circuit television) that McMahon marketed as being the Super Bowl of professional wrestling. The concept of a wrestling supercard was nothing new in North America; the NWA had been running Starrcade a few years prior to WrestleMania, and even the elder McMahon had marketed large Shea Stadium cards viewable in closed-circuit locations. However, McMahon's vision was to make the WWF and the industry itself mainstream, targeting more of the general television audience by exploiting the entertainment side of the industry. With the inaugural WrestleMania the WWF initiated a joint-promotional campaign with MTV, which featured a great deal of WWF coverage and programming, in what was termed the Rock 'n' Wrestling Connection. The mainstream media attention brought on by celebrities including Muhammad Ali, Mr. T, and Cyndi Lauper at the event helped propel WrestleMania to become a staple in popular culture.
The original WrestleMania, held in 1985, was a resounding success. This event is sometimes credited as the debut of what McMahon called "sports entertainment", in contrast to his father's preference of pure wrestling. The WWF did incredible business on the shoulders of McMahon and his all-American babyface hero, Hulk Hogan, for the next several years, creating what some observers dubbed a second golden age for professional wrestling. The introduction of Saturday Night's Main Event on NBC in mid-1985 marked the first time that professional wrestling had been broadcast on network television since the 1950s. In 1987, the WWF produced what was considered to be the pinnacle of the 1980s wrestling boom, WrestleMania III. A rematch of the Wrestlemania III feature bout, once again pitting Champion Hulk Hogan against Andre the Giant on Main Event, was seen by 33 million people, which is still the record for the most watched wrestling match in North America.
WWF:New Generation
The WWF hit a low point in the wake of allegations of steroid abuse and distribution made against it in 1994; there were also allegations of sexual harassment made by WWF employees. McMahon was eventually exonerated, but it was a public relations nightmare for the WWF. The steroid trial cost the WWF an estimated $5 million at a time when revenues were at an all-time low. To compensate, McMahon cut the pay of both wrestlers and front office personnel – close to 40% in the latter case (and about 50% for top level managers such as Bobby Heenan and Jimmy Hart, who both left). This helped drive many WWF wrestlers to its only major competition, World Championship Wrestling (WCW), between 1994 and 1997. During this period, the WWF promoted itself under the banner of "The New WWF Generation," featuring Shawn Michaels, Diesel, Razor Ramon, Bret Hart, and The Undertaker. In an effort to promote them and other young talent as the new superstars of the ring, the WWF began to play on the age restrictions which former WWF wrestlers such as Hulk Hogan and Randy Savage (who by now were working for WCW) now faced. This is best seen in the "Billionaire Ted" parodies of early 1996 (a reference to WCW's owner and patron, media mogul Ted Turner) which culminated in a "rasslin'" match during the warm-up to WrestleMania XII.
WWE:World Wrestling Entertainment
In March 2002, roughly two months before the name change, WWE decided to create two separate rosters, Raw and SmackDown! due to the overabundance of talent left over from the Invasion storyline. This is known as the WWE Brand Extension. Despite much of the originally drafted talent departing by 2004, WWE has continued to separate the shows, taking on younger talent, and holds a Draft Lottery every year. On May 26, 2006, WWE announced the relaunch of Extreme Championship Wrestling as a WWE brand. The new ECW program aired internationally and on Tuesday nights on Syfy in the United States until February 16, 2010.
In 2000, the World Wide Fund for Nature (also trademarked WWF), an environmental organization, sued World Wrestling Federation Entertainment Inc. in the United Kingdom. The Law Lords agreed that the promotion company had violated a 1994 agreement as Titan Sports which had limited the permissible use of the WWF trademark in Europe, particularly in merchandising. The World Wide Fund and World Wrestling Federation used the initials since March 1979. The last televised event to market the WWF logo was UK based pay-per-view Insurrextion 2002. On May 5, 2002, the company launched its "Get The F Out" marketing campaign and changed all references on its website from "WWF" to "WWE", while switching the URL from WWF.com to WWE.com. The next day, a press release announced the official name change from World Wrestling Federation Entertainment, Inc. to World Wrestling Entertainment, Inc., or WWE, and the change was publicized later that day during a telecast of Monday Night Raw, which was broadcast from the Hartford Civic Center in Hartford, Connecticut.
Following the case, the use of the "Attitude" logo became prohibited on all World Wrestling Federation properties. Additionally, past references to the WWF trademark and initials in 'specified circumstances' became censored. Despite litigation, WWE is still permitted use of the original WWF logo, which was used from 1979 through 1994, as well as the "New WWF Generation" logo, which was used from 1994 through 1998. Furthermore, the company may still make use of the full "World Wrestling Federation" and "World Wrestling Federation Entertainment" names without consequence. In 2003, WWE won a limited decision to continue marketing certain classic video games from THQ and Jakks Pacific that contained the WWF "Attitude" logo. However, the packaging was changed to replace all WWF references with WWE.
In late 2005, WWE Raw returned after a five year stint on TNN (now Spike) to its original home USA Network. In 2006, due to contracts with NBC Universal, parent company of USA Network, WWE revived its classic Saturday night show Saturday Night's Main Event (SNME) on NBC after a thirteen-year hiatus. WWE had the chance to promote the company on a major national network rather than the lower profile CW or cable channels like USA Network. SNME airs occasionally on NBC as a WWE special series. On September 26, 2007, it was announced that WWE would be expanding its international operations. Alongside the current international offices in London and Toronto, a new international office would be established in Sydney.
On January 21, 2008, WWE made the transition to high-definition (HD). All TV shows and pay-per-views after this were broadcast in HD. In addition, WWE also introduced a new HD set that is used for both the Raw and SmackDown brands. A different set, though usually similar to the universal design in layout, is used for each of the pay-per-views.
On November 19, 2008, WWE launched their online social network, WWE Universe. It initially appeared in April as WWE Fan Nation. Similar to MySpace, it offered blogs, forums, and other features for WWE fans. The social network ceased operations on January 1, 2011. The company subsequently launched a WWE page on Facebook, which, as of October 7, 2011, had more than 39 million fans worldwide.
It was announced on December 19, 2008 that WWE and WGN America had come to an agreement to create a new weekly, one-hour prime time series entitled WWE Superstars. On April 16, 2009 the show made its debut airing. The show featured talent from all WWE brands. On February 2, 2010, it was announced that a new program called WWE NXT would premiere on Syfy on February 23, 2010, over the ECW timeslot. Later that year NXT was removed from the Syfy lineup and was replaced with WWE SmackDown which had been airing on MyNetworkTV since October 2008. NXT continues to air on WWE.com.
In 2008, WWE initiated a change in its programming content. The United States parental guidelines rating system now rates all WWE television programs "PG" indicating family-friendly content in the programming. Vince McMahon noted that the change to more family-friendly content is due to the changing demographics in WWE viewership. As of 2010, women and young children make up 40% of the company's audience.
On April 7, 2011, WWE Corporate announced that the company would be rebranded from "World Wrestling Entertainment, Inc." to simply "WWE, Inc." This orphan initialism occurred to reflect WWE's global entertainment expansion away from the ring with the ultimate goal of acquiring entertainment companies and putting a focus on television, live events, and film production. WWE quoted that their new company model was put into effect with the relaunch of WWE Tough Enough, being a non–scripted program (contrary to the scripted nature of professional wrestling) and with the expected launch of a WWE television network in 2012.
On March 20, 2012, WWE ceased operation of its developement territory, Florida Championship Wrestling. Later the day HHH revealed that the shut down of Florida Championship Wrestling are not true, and after Wrestlemania 28 there would be a big announcement regarding the development system of the company.
