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World Wrestling Entertainment,
or WWE, is a professional wrestling promotion,
currently the largest in North America.
The company was previously known as TitanSports,
Inc. and has previously done business as
the Capitol Wrestling Corporation, the World
Wide Wrestling Federation, and the World
Wrestling Federation (WWF).
World Wrestling Entertainment
is a publicly-traded company, but the vast
majority (70%) of voting shares are owned
by Chairman Vince McMahon, his wife, Chief
Executive Officer Linda McMahon, his son,
Executive Vice President of Global Media
Shane McMahon, and his daughter, Vice President
of Creative Writing Stephanie McMahon-Levesque.
As of 2005, the headquarters of World Wrestling
Entertainment, Inc. are located in Stamford,
Connecticut.
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The
WWE
World Wide Wrestling Federation
In 1963, "Nature Boy" Buddy Rogers was the NWA
champion and his bookings were controlled by Mondt. The
rest of the NWA was upset with Mondt because he rarely let
Rogers wrestle outside of the Northeast. It was decided
that Mondt and CWC would part ways with the NWA, creating
the World Wide Wrestling Federation (WWWF) in the process.
Mondt and WWWF wanted Rogers to keep the NWA title, but
Rogers didn't want to lose his $25,000 deposit on the belt;
wrestling champions at the time had to pay a deposit to
ensure they would honor whatever commitments that came along
with their titles. Rogers lost the NWA title to Lou Thesz
in Toronto, Ontario on January 24, 1963.
In mid-April, Rogers was then awarded the new WWWF title
after the WWWF claimed he won a (fictitious) tournament
in Rio de Janeiro. He lost the title to Bruno Sammartino
a month later on May 17, 1963 after supposedly suffering
a heart attack shortly before the match.
The WWWF rejoined the NWA in 1971 and their world title
was dropped to the status of a regional title.
Mondt (born in 1886) died in 1976.
The WWWF became the World Wrestling Federation (WWF) in
mid-1979. The name change was purely cosmetic; the ownership
and front office personnel remained unchanged during this
period.
World Wrestling Federation
WWF goes national
This "old school" logo was the primary mark of
Titan Sports/The World Wrestling Federation from 1981-1996.In
1979, Vincent K. McMahon founded Titan Sports, Inc., and
in 1982 purchased the WWF from his father, Vincent J. McMahon.
After discovering at age 12 that the wrestling promoter
was his father, Vince became steadily involved in his father's
wrestling business until the latter was ready to retire.
The elder McMahon had already established the northeastern
territory as one of the most vibrant members of the NWA
by recognizing that pro wrestling was more about entertainment
than sport. Against his father's wishes, McMahon began an
expansion process that would fundamentally change the sport,
and place both the WWF--and his own life--in jeopardy.
Leaving the NWA for a second time in itself was not that
big of a step; the AWA had long ago ceased being an official
NWA member, and just over a decade earlier the WWWF itself
had rejoined the NWA. But in neither instance did the defecting
member attempt to undermine, and destroy, the Territory
system that had been the foundation of the industry.
Other promoters were furious when McMahon began syndicating
WWF shows to stations across America. McMahon also began
selling videotapes of WWF events outside the Northeast.
He effectively broke the unwritten law of regionalism around
which the entire industry had been based. To make matters
worse, McMahon would use 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.
According to several reports, Vincent Sr. warned his son:
"Vinny, what are you doing?! You'll wind up at the
bottom of a river!" In spite of such warnings, the
younger McMahon had an even bolder ambition: the WWF would
tour nationally. However, such a venture required huge capital
investment; one which 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 sports entertainment
concept, WrestleMania. WrestleMania was a pay-per-view extravaganza
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. However, McMahon wanted to
take the WWF to the mainstream, targeting the general public
who were not regular wrestling fans. He drew the interest
of the mainstream media by inviting celebrities such as
Mr. T and Cyndi Lauper to participate in the event. MTV,
in particular, featured a great deal of WWF coverage and
programming at this time, in what was termed the Rock 'n'
Wrestling Connection.
The new formula of what McMahon deemed Sports Entertainment
was a resounding financial success at the original WrestleMania.
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. However,
by the 1990s the WWF's fortunes steadily declined as Hulk
Hogan's act grew stale, hitting a low point in the wake
of allegations of steroid abuse and distribution against
McMahon and the WWF in 1994. McMahon was eventually exonerated,
but it was a public-relations debacle for the WWF.
WWF The Next Generation
Monday Night Wars
Under Eric Bischoff, World Championship Wrestling (WCW),
the new name for NWA superterritory Jim Crockett Promotions
after its purchase by Ted Turner, began using its tremendous
financial resources to lure established talent away from
the WWF. Beginning in 1994, these acquisitions included
Hulk Hogan, "Macho Man" Randy Savage, Lex Luger,
Scott Hall, "Big Sexy" Kevin Nash, and many others.
In 1995, Bischoff upped the ante, creating WCW Monday Nitro,
a cable show on Turner's TNT network, to directly compete
with the WWF's flagship show, WWF Monday Night RAW. Eventually,
on the strength of its newly-acquired WWF talent and the
groundbreaking nWo storyline, WCW overtook the WWF in television
ratings and popularity.
McMahon responded by stating that he could create new superstars
to regain the upper hand in the ratings war, and at the
same time tightening contracts to make it harder for WCW
to raid WWF talent. Despite this, the WWF was losing money
at a rapid rate. WCW's reality-based storylines drew attention
away from the WWF's outdated (and childish) rock and wrestling-era
gimmicks.
World Wrestling Entertainment
Following a lawsuit from the World Wildlife Fund (also WWF),
the Federation changed its name to World Wrestling Entertainment,
or WWE. Its parent company, World Wrestling Federation Entertainment,
also chose to adopt this name. The lawsuit dealt with the
wrestling company's breaching of an agreement with the Fund
over use of the initials "WWF" in the United Kingdom.
Rather than attempt a financial settlement with the Fund,
McMahon changed the name of the company. The logo was altered,
and a promotional campaign called "Get The F Out"
was used to publicize this change. Also, all verbal and
visual references to "WWF" and the World Wrestling
Federation logo from the "Attitude" era were edited
out from old broadcasts. Some observers saw the new name
as further acknowledgement by the company on its emphasis
towards the entertainment rather than athletic aspects of
professional wrestling.
Without WCW as competition, the WWE decided to split the
promotion into two "separate" brands based on
its two largest television shows, RAW and SmackDown! Under
this "split brands" arrangement, each brand maintains
a separate and non-overlapping roster of wrestlers, has
championships exclusive to that brand (example: the WWE
Championship on SmackDown!, and the World Heavyweight Championship
on RAW), and is run by a different onscreen general manager.
SmackDown! brand
SmackDown! - WWE's secondary show, airs Thursday nights
at 8 PM EST on UPN in the United States and in Canada at
7 PM EST on The Score.
Velocity - Sister show to SmackDown!, airs on Saturday nights
at 11 PM EST on Spike TV. It is usually taped the hour before
SmackDown! tapes. The current play-by-play commentator is
Steve Romero and the current color commentator is Josh Matthews.
Matthews formerly did play-by-play comentary with color
analyst Bill DeMott.
Afterburn - Syndicated show that recaps the past week's
events on the SmackDown! brand. The show is hosted by Josh
Matthews.
Pay-per-view
WWE is currently one of the leaders in pay-per-view content
for cable and satellite television. Pay-per-views account
for approximately 25% of WWE revenues ($95.3 million in
the 2004 fiscal year).
15 live shows for the U.S. market.
4 live shows for the European market.
2 live shows for the Asian market.
4 live shows for the Australian market
All pay-per-views can be purchased and viewed on WWE.com
as well.
WWE online
World Wrestling Entertainment has had a large Web presence
since 1996 and was nominated for a "Streaming Media
Award" in 1999 for its online content.
Streaming media has been one of the most important roles
of the WWE.com "New Media" department and the
output of videos is immense. With over fourteen million
played video streams a month, WWE.com is a major contributor
of online media.
The WWE has a large media repository dating back to the
late 1960s and their goal was to stream most of this content
online using a subscription service. Unfortunately, the
lawsuit from the World Wildlife Fund has kept WWE.com from
showing any content from the "Attitude Era" (1998-May
2002). Furthermore, WWE.com provides the same services for
its online pay-per-view content.
Shane McMahon is Executive Vice President of Global Media
within World Wrestling Entertainment and is in charge of
WWE.com. The younger McMahon was once a major character
in WWF/WWE storylines in the late 1990s and early 2000s,
but has since become seldom seen on television to concentrate
his time exclusively on the Global Media division.
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