Financially, this is has been a pretty terrible year for Vince McMahon and WWE, which is fairly ironic considering earlier in the year he was profiled for Forbes magazine. When the WWE Network launched, it was speculated that they needed one million subscribers for it to break even, but as of the latest numbers its only reached 731,000 subscribers. WWEs value skyrocketed earlier in the year thanks to McMahons promises of a lucrative new television deal, but when the eventual deal was announced it was far more disappointing than shareholders were let to believe. They abandoned WWE like rats on a sinking ship, the stock price plummeted and Vince McMahon lost $350 million over one day, enough to turn him from a billionaire to a millionaire. This led to some serious cost-cutting measures in WWE, and on Thursday 12th June WWE released 11 employees over the course of the day. The list included WWE mainstay Teddy Long, 3MB members Drew McIntyre and Jinder Mihal, and perpetual survivor of such cuts, JTG. Mainstream publications jumped on the catastrophic loss of money will a strange sense of glee, and wrote articles about it with the odd use of piledrive and suplex to make it seem like they knew what they were talking about. As for WWE, theyre still feeling the effects of that day, but are hoping the upcoming launch of WWE Network in UK and Ireland will bring in some much needed revenue.
