Vince McMahon Makes Variety500 List for Influential Media Leaders
WWE Chairman Vince McMahon made the third annual Variety500 list for Variety. The list showcases the 500 most influential business leaders shaping the media industry. Here is Variety’s blurb on Vince McMahon for this year’s list:
“Last year, McMahon metaphorically circled the ring with the WWE, arms aloft in victory, after signing separate five-year deals with USA Network and Fox Sports to carry its ‘Monday Night Raw’ and ‘SmackDown Live,’ estimated to generate revenues rising from $311 million in 2019 to $462 million in 2021. And then the WWE itself was dropped to the mat a few times. When Q2 2019 earnings were released in July, its stock price had dropped 31% from a record high of about $99.43 in April, and average ‘Raw’ viewership was down 20% from the same quarter in 2018. Finally acknowledging the decline, this summer McMahon hired Paul Heyman (‘Raw’) and Eric Bischoff (‘SmackDown’) to run the shows, and hopes are high for a turnaround.”
While the blurb mentions Eric Bischoff as Executive Director of Smackdown, that’s a position Bischoff was let go from in October, just four months after he was announced for the job.
Later on, WWE Chief Brand Officer Stephanie McMahon congratulated her father on making the list on Twitter. She tweeted “There are so many trailblazers shaping the media industry today – not only what we consume but how we consume it. Congratulations to all who made this year’s #Variety500 list, including @vincemcmahon!”