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Thursday, October 24, 2024 Issue #7385
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//->> OPENING WORDS FROM THE EDITOR

Nothing to say today, back tomorrow!


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//->> NEWS FROM THE WRESTLING-ONLINE NEWSWIRE
Web version at

DYNAMIC PRICING INFLATES WRESTLEMANIA 41 TICKETS TO OVER 100%

- The "base" WrestleMania ticket prices did not last long on Ticketmaster as dynamic pricing quickly kicked in, inflating ticket prices sometimes by 100%. Originally, tickets were priced $450, $650, $850, $1,000, $1,400, $2,000, $3,000, $5,000, and $10,000, but now it's impossible to find a ticket at those prices. Ticketmaster uses dynamic ticket pricing depending on demand and has tried to justify its practice by comparing it to airlines and hotels which also increase costs based on demand. It's a tactic used mainly in concerts, where prices go up big time if there's a huge demand for a show and now this practice has also moved to WWE events. A row 4 ticket, which was originally $10,000, is now $15,000 plus taxes and fees. After all is said and done, there's an additional $3,562 in fees plus the Las Vegas Entertainment Tax which amounts to another $1,350, for a total price of just over $19,900. A level 200 seat which yesterday sold for $850 plus fees is now $1,850, over 100% more than its original price, and that does not include taxes or fees. The cheapest two-night ticket available on Ticketmaster at the moment is $1,600 and that is in the level 300. It's unclear how much tickets WWE moved yesterday after the pre-sale started. Tickets will open to the general public tomorrow.

NXT RATING

- NXT drew 702 viewers this week on The CW, up 63,000 viewers from the prior week. The show had a 0.16 rating in 18-49, down 0.02 from the last show and the lowest number since the August 20 episode on USA Network. (Ratings credit: Programming Insider)

TKO ANNOUNCES ACQUISITION OF PBR, ON LOCATION, AND IMG

- TKO Group Holdings, Inc announced today it has reached a definitive agreement with Endeavor Group Holdings to acquire Professional Bull Riders, On Location, and IMG in an all-equity transaction valued at $3.25 billion. In addition to complementing TKO’s existing core UFC and WWE businesses, the strategic acquisition of these sports and hospitality assets from Endeavor expands TKO’s operational footprint in the fast-growing premium sports market and enables direct participation in the upside from partner leagues and events. Ariel Emanuel, Executive Chair and CEO of TKO, said: “Today’s announcements reflect the continued strength of our underlying business and our commitment to deploying capital through a balanced capital allocation strategy, including through our share repurchase program and quarterly cash dividend program. This underscores our continued focus on delivering sustainable long-term value for our shareholders.” Mark Shapiro, President and COO of TKO, said: “PBR, On Location, and IMG are industry-leading assets that meaningfully enhance TKO’s portfolio and strengthen our position in premium sports globally. Within TKO, they will help power the growth of our revenue streams and position us to capture even more upside from some of the most attractive parts of our sports ecosystem: media rights, live events, ticket sales, premium experiences, brand partnerships, and site fees. These assets are already built into our business strategy at TKO and will serve to further enhance our strong track record of execution across UFC and WWE.”

WALL STREET REACTS NEGATIVELY TO LATEST TKO NEWS

- Today's TKO news of acquiring PBR, On Location, and IMG didn't go down well with Wall Street and the stock is down around 9% at time of this writing. Under the terms of the agreement, TKO will acquire the Endeavor assets for a total consideration of $3.25 billion, based on the 25-trading-day volume-weighted average price of TKO’s Class A common stock for the period ending on October 23, 2024. Endeavor will receive approximately 26.14 million common units of TKO Operating Company, LLC and will subscribe for an equal number of shares of TKO’s Class B common stock, with Endeavor expected to own approximately 59% of TKO alongside the other existing TKO shareholders, who will own the remaining 41% upon completion of the transaction. The transaction is also subject to purchase price adjustments to be settled in cash and equity. In addition to the acquisition news, the company also said that that its board of directors has authorized a share repurchase program of up to $2.0 billion of its Class A common stock and the initiation of a quarterly cash dividend program pursuant to which holders of TKO’s Class A common stock will receive their pro rata share of $75.0 million in quarterly distributions to be made by TKO Operating Company, LLC.

BECKY LYNCH TO APPEAR AT VULTURE FESITVAL

- "The Man" Becky Lynch is coming around at Vulture Festival next month on Sunday, November 17. The former champion, using her WWE name, will be part of a conversation titled "Becky Lynch Disarms Us," a takeoff of her finishing move. The preview reads, "WWE Superstar, trailblazer, and New York Times best-selling author Rebecca Quin will join us for a conversation about her recent memoir Becky Lynch: The Man: Not Your Average Average Girl. We’ll look back on her legendary career — from her early days grinding on the road to being in the first ever women’s match to main event WrestleMania — and just maybe get a glimpse at what The Man has in store for us next." Lynch exited WWE on June 1 of this year after her contract expired and opted not to re-sign. It's the first time since 2013 that she is not part of WWE.

MCMAHON'S ATTORNEY REACTS TO "RING BOYS" LAWSUIT

- Vince McMahon's attorney Jessica Rosenberg reacted to the lawsuit filed yesterday against Vince and Linda McMahon along with WWE concerning the former WWE "Ring Boys." The lawsuit, filed on behalf of five former ring boys, alleges negligence for allowing "systemic and pervasive abuse" of underage children. "More than 30 years ago, the columnist Phil Mushnick tried to make headlines with these same false claims," Rosenberg said in a statement issued later in the evening. "Those allegations were never proven and ultimately became the subject of a defamation lawsuit against Mr. Mushnick." She continued, "The negligence claims against Mr. McMahon that were asserted today rely on these same absurd, defamatory and utterly meritless statements by Mr. Mushnick. We will vigorously defend Mr. McMahon and are confident the court will find that these claims are untrue and unfounded." The lawsuit, which was filed by DiCello Levitt and Murphy, Falcon & Murphy, says that the McMahons knew about and did not stop decades of sexual assault, spearheaded by former WWE ring announcer and ring crew boss Melvin Phillips Jr. Phillips, who died in 2012, is said to have hired underage boys, sometimes as young as 12, to assist in setting up the ring, then groomed and abused them. Terry Garvin and Pat Patterson were also involved in the allegations at the time and were both fired, along with Phillips. The story became public in 1992.

FIRST MATCH FOR FULL GEAR ANNOUNCED

- The first match for AEW's Full Gear has been announced and it will feature MJF taking on either Adam Cole or Roderick Strong. The match was made last night on Dynamite as Cole and Strong reunited The Undisputed Kingdom with their first target being MJF. MJF, appearing via video getting a massage, said that he won't be appearing on AEW television until the pay-per-view and laid out a challenge to both men: the first one to win three matches on AEW TV until then will get him at Full Gear. Cole's first match will be on the Fright Night episode of Dynamite next week, his first match in 13 months.

CHRIS JERICHO WINS ROH WORLD TITLE

- Chris Jericho has secured his ninth major world title in his career after he defeated Mark Briscoe last night on Dynamite in a ladder war to become the new ROH World champion. Jericho had some assistance from Bryan Keith and Big Bill in order to win the match, with Big Bill chokeslamming Briscoe off the ladder through tables and then carrying Jericho on his shoulders as he climbed the ladder so Jericho could snatch the title. After the match, Jericho's first opponent quickly emerged in the form of Tomohiro Ishii. This ends Briscoe's 202-day run with the title and it's Jericho's second time as ROH champion.


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