WWE News: WWE Attempting To Sell Entire Video Library To Warner Bros.

In what can only be seen as a surprising report, it’s rumored that WWE is attempting to sell their entire video library, with Warner Bros. being the most likely candidate for the sale. This is surprising, as WWE uses a lot of it’s library for the WWE Network, and not owning it themselves would prevent them from doing much with it. WWE also uses their vast library for several other things, such as DVDs and video packages.

However, the Wrap report on this is interesting.

“While the financial terms of the deal were not disclosed, the library is estimated to have nearly 150,000 hours of content, consisting of television shows, pay-per-view events and house shows dating back to the 1950s. It also contains a large selection of the visual history of modern professional wrestling, and is currently held by Cinedigm.

“An insider with knowledge of Cinedigm’s WWE contract told TheWrap there is no end date as yet, but the company is transitioning away from the library.

“The WWE Network, which launched in February, has made use of the library but hasn’t received enough monthly subscribers to make up for its lost pay-per-view orders. At $9.99 per month, it needed 1.3 to 1.4 million subscribers, but the company closed its first quarter with just under 670,000 subscribers and declining PPV revenue. The WWE Network believed it would reach one million subscribers this year.

“The WWE Network is a 24/7-streaming network that features 12 WWE live pay-per-view events, original programming, reality shows, documentaries, classic matches and more than 1,500 hours of video on demand at launch.”

While WWE has not been able to seal up the numbers for the WWE Network that they wanted — they’ve garnered around 650,000 thus far — WWE has been confident that they can bring in a million people by the end of the year. It is said that WWE needs to get 1.3 million users or more to make a profit off of the network. WWE normally ruled the PPV world, so the guaranteed $50-60 per person was a lot to ask for one PPV, but people still paid it. WrestleMania numbers alone would get WWE massive money. That didn’t include other shows such as SummerSlam, which usually brings in relatively good buys.

However, the rumor seems like it could be just that, as PWInsider reports that The Wrap is incorrect in it’s findings.

A WWE source personally told Mike Johnson of the Insider that reports of WWE selling their library are untrue.

The Wrap’s story also claimed that Cinedigm currently owns the WWE library. PWInsider points out that is not true, as WWE owns their own library. It has been known that WWE owns the library due to it being touted by WWE CFO George Barrios during several financial calls. Cinedigm is, however, the current distributor of all WWE DVD releases.

It is interesting that sources would tell a Pro-Wrestling website that something was not true when they would “decline to comment” to the place that published the original story. The Wrap could have been using terrible sources, or were simply duped.

So while WWE could always sell their library, it is a bit far fetched they would sell it now that they still have the WWE Network up. Unless WWE cuts the Network all together, it is doubtful WWE would ever sell the library. Even if the Network doesn’t work out, WWE still has a lot of money in the library and would only sell it for financial reasons.

Another thing fishy about this report is the suggestion that WWE would sell the library to Warner Bros. This company teamed up with Ted Turner during the WCW period. Time-Warner was the owner of WCW, and Turner was all about grabbing WWE if he could back then. Vince was willing to die before selling his company or anything regarding it to Turner. While clearly time has proven that WWE is really the only notable wrestling company in the world, it is obvious that others are still trying to compete.

Warner Bros. owning a piece of WWE after the history they had with WCW in the 1990s is very weird to say the least. WWE obviously would do business with anyone if they felt it would help the WWE. However, it is highly doubtful that Warner Bros. would be their first choice.

[IMG Credits: RingScoops.com, DeviantArt-Astrofavilla]