THE ROCK INC.
Actor and former WWE Superstar Dwayne “The Rock” Johnson participates in a Wrestlemania XXVII press conference at the Hard Rock Cafe in Times Square on Wednesday, Mar. 30, 2011 in New York. It is a name that has become almost synonymous with professional wrestling but its bearer, Dwayne Johnson, has never legally owned “The Rock.” That will change under a new agreement with the WWE under whichJohnson will also join the board of TKO Group, the sports and entertainment company that houses WWE and UFC.(AP Photo/Evan Agostini, file)
Wrestler John Cena, top, chokes Dwayne “The Rock” Johnson at a Wrestlemania event on April 7, 2013, in East Rutherford, N.J. It is a name that has become almost synonymous with professional wrestling but its bearer, Dwayne Johnson, has never legally owned “The Rock.”
(AP Photo/Mel Evans, File)
BY MICHELLE CHAPMAN
January 23, 2024
It is a name that has become almost synonymous with professional wrestling but its bearer, Dwayne Johnson, has never legally owned “The Rock.”
That will change under a new agreement with the WWE under which Johnson will also join the board of TKO Group, the sports and entertainment company that houses WWE and UFC.
“The Rock” is a name is derived from Johnson’s father, WWE Hall of Famer Rocky Johnson, who was the first Black champion in WWE history (alongside partner Tony Atlas), according the WWE.
Johnson, in an interview on CNBC, would not discuss the financial value of the deal with WWE, but said that the name “The Rock” means a lot to him personally.
“I owe that name everything,” Johnson said. “Without that name there’d be no wrestling career. There’d be no Hollywood career.”
Johnson, a movie and wrestling star, has a business portfolio that includes his production company Seven Bucks Productions, tequila brand Teremana Tequila, energy drink company ZOA Energy, Project Rock apparel brand and the United Football League.
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BY MICHELLE CHAPMAN
January 23, 2024
It is a name that has become almost synonymous with professional wrestling but its bearer, Dwayne Johnson, has never legally owned “The Rock.”
That will change under a new agreement with the WWE under which Johnson will also join the board of TKO Group, the sports and entertainment company that houses WWE and UFC.
“The Rock” is a name is derived from Johnson’s father, WWE Hall of Famer Rocky Johnson, who was the first Black champion in WWE history (alongside partner Tony Atlas), according the WWE.
Johnson, in an interview on CNBC, would not discuss the financial value of the deal with WWE, but said that the name “The Rock” means a lot to him personally.
“I owe that name everything,” Johnson said. “Without that name there’d be no wrestling career. There’d be no Hollywood career.”
Johnson, a movie and wrestling star, has a business portfolio that includes his production company Seven Bucks Productions, tequila brand Teremana Tequila, energy drink company ZOA Energy, Project Rock apparel brand and the United Football League.
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Johnson said on CNBC that this will be his first time serving on the board of a publicly traded company.
“I’m very motivated to help continue to globally expand our TKO, WWE, and UFC businesses as the worldwide leaders in sports and entertainment — while proudly representing so many phenomenal athletes and performers who show up every day putting in the hard work with their own two hands to make their dreams come true and deliver for our audiences,” Johnson said in a prepared statement. “I’ve been there, I’m still there and this is for them.”
TKO Group Holdings Inc. says Johnson’s board appointment, effective Tuesday, reflects its “commitment to delivering long-term value and strong performance for shareholders through strategic growth initiatives across both UFC and WWE.”
Johnson began his wrestling career with WWE in 1996. The third-generation wrestler became famous for rivalries with wrestlers including “Stone Cold” Steve Austin and Triple H and his finishing maneuver, The Rock Bottom, according to his biography on WWE’s website. He has won eight WWE championships, has a New York Times bestselling autobiography, “The Rock Says,” and starred in movies including “Fast X,” “Black Adam,” “Jungle Cruise” and ”Jumanji: Welcome to the Jungle.”
Johnson has recently appeared on World Wrestling Entertainment Inc.'s “Smackdown” and “Raw” television programs, with rumors swirling that he may compete at this year’s WrestleMania.
“I am thrilled to partner with Dwayne and welcome his immense talent to TKO’s Board,” TKO CEO Ariel Emanuel said in a prepared statement. “Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for TKO.”
TKO also announced Tuesday that Brad Keywell will become a board member. Keywell has co-founded and led multiple companies, including Groupon, Echo Global Logistics, MediaOcean, and Uptake Technologies, where he is currently founder and executive chairman.
The additions of Johnson and Keywell will increase TKO’s board from 11 to 13 members.
Shares of TKO Group surged more than 19% in morning trading after TKO announced WWE’s weekly television show “Raw” will move to Netflix next year as part of a major streaming deal worth more than $5 billion.
TKO also announced Tuesday that Brad Keywell will become a board member. Keywell has co-founded and led multiple companies, including Groupon, Echo Global Logistics, MediaOcean, and Uptake Technologies, where he is currently founder and executive chairman.
The additions of Johnson and Keywell will increase TKO’s board from 11 to 13 members.
Shares of TKO Group surged more than 19% in morning trading after TKO announced WWE’s weekly television show “Raw” will move to Netflix next year as part of a major streaming deal worth more than $5 billion.
WWE’s ‘Raw’ is moving to Netflix next year in a major streaming deal worth more than $5 billion
Wrestler Carmella leaps at Bianca Belair, during the WWE Monday Night RAW event, March 6, 2023, in Boston. WWE’s weekly television show “Raw” will move to Netflix next year as part of a major streaming deal.
(AP Photo/Charles Krupa, File)
BY MICHELLE CHAPMAN
January 23, 2024
WWE’s weekly television show “Raw” will move to Netflix next year as part of a major streaming deal worth more than $5 billion.
TKO Group Holdings Inc., which houses WWE and UFC, said in a regulatory filing on Tuesday that the agreement is for 10 years, with Netflix having an option to extend the deal for an additional 10 years. There’s also an opt out available to Netflix after the initial five years.
“Raw,” which debuted in 1993, has produced 1,600 episodes to date and features wrestlers such as Cody Rhodes, Becky Lynch, Seth Rollins and Rhea Ripley. The three-hour program currently airs on USA Network and its media rights were considered a hot commodity over the past several months, particularly after the WWE return of CM Punk in November, with many speculating it could land at any number of networks or streaming platforms.
“We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix,” Chief Content Officer Bela Bajaria said in a prepared statement.
WWE said Tuesday that “Raw” will air on Netflix starting in January 2025. This will impact viewers in the U.S., Canada, the U.K., Latin America and other territories. WWE said that it will also impact additional countries and regions over time.
“This deal is transformative,” Mark Shapiro, TKO president and COO, said in a prepared statement. “It marries the can’t-miss WWE product with Netflix’s extraordinary global reach and locks in significant and predictable economics for many years. Our partnership fundamentally alters and strengthens the media landscape, dramatically expands the reach of WWE, and brings weekly live appointment viewing to Netflix.”
WWE also said that its documentaries, original series and forthcoming projects will be available on Netflix internationally starting in 2025.
The move of “Raw” to Netflix follows the announcement in September by World Wrestling Entertainment Inc. that “Friday Night Smackdown,” would be moving from Fox to USA Network in 2024 under a new five-year domestic media rights partnership with NBCUniversal. As part of the agreement, WWE will also produce four prime-time specials per year that will air on NBC, starting in the 2024/2025 season. This will be the first time that WWE will air on the network in prime time.
Speaking on CNBC, TKO CEO Ariel Emanuel said that he didn’t believe there’s a move away from traditional television networks or cable networks, but that streaming platforms were becoming another option, as seen through its “Raw” deal with Netflix.
“This is the streaming play. For us, it’s the next step,” he said.
WWE also announced Tuesday that it reached a deal with Dwayne “The Rock” Johnson that will give the star the rights to his nickname. Johnson will also join the board of TKO Group.
Shares of TKO Group jumped more than 19% in early trading.
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