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Posted in: Sports, TV, WWE | Tagged: kassius ohno, wrestling, wwe
NXT Star Kassius Ohno Released by WWE
Kassius Ohno is the latest wrestlers known to be released by WWE this week. Ohno's release was reported by F4Wonline. Despite Ohno's name not being included in the list of names released throughout the week, Dave Meltzer has confirmed the layoff and Ohno has changed his Twitter name to "WWE Alumni." F4WOnline is not sure if Ohno is permanently released or furloughed, but so far all of the wrestlers appear to have been released while backstage talent were more likely to be furloughed. Over forty wrestlers and backstage talent were released by WWE just after the company announced cost-cutting measures even as they have $500 million in reserves to weather the crisis.
Profits for Some in WWE, Layoffs for Others
WWE is expected to make massive profits this year even if live event business doesn't return. The company's primary revenue stream comes from its television deals, which are paying record amounts to WWE after Smackdown moved to Fox last year and USA cut a deal to continue airing Raw for the same price it once paid for Raw and Smackdown. USA also airs NXT on Wednesday nights. One big revenue stream that may be reduced is WWE's Saudi Arabian money, as the company would normally be planning a show later in the year and that might not happen depending on how the pandemic situation plays out. The last Saudi Arabian show, Super Showdown, took place in February.
The release or furlough of WWE workers which also includes an unknown number of office workers and live event staff comes during a week of general bad publicity for WWE. The company attained a special exemption from Florida's stay-at-home order to operate as an essential business so they can continue to produce live broadcasts, though WWE soon walked back that decision to alternate between taped and live broadcasts on a two-week cycle. The order from the governor granting essential status happened the same day that a Republican SuperPac controlled by Linda McMahon, who also once served on Donald Trump's cabinet, pledged to spend $18.5 million in the state. Making things even worse, WWE announced a stock dividend for investors the day after first announcing the cutbacks. Over $9 million will be paid to investors, with Vince McMahon himself entitled to $3.5 million, even as many of the company's workers will now need to look for income to survive in the middle of a global pandemic.
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