The company previously known as World Wrestling Entertainment formally announced Thursday that it has changed its business name to WWE, Inc. These initials now carry no meaning, similar to a move Kentucky Fried Chicken once did when formally becoming KFC.
As has been reported, the move stems from WWE’s continued desire to escape the stigma of the word “wrestling.” WWE wants to be portrayed as a global entertainment business, and it has slowly been removing all references to ‘wrestling’ from its business items, merchandise and television shows.
For proof of that, look no further than WWE Chairman Vince McMahon’s statement on the name change, which blatantly references pro wrestling without actually saying the words.
“The new business model of the company better reflects what WWE is all about, being a global entertainment company,” stated Vince McMahon, Chairman and CEO, WWE. “We will always be loyal to our core business that made WWE a globally known entity, however, the future of WWE will be the addition of new entertainment content opportunities beyond the ring.”
In a press release on the change, WWE announced two key focuses going forward: “the active pursuit to acquire entertainment content companies and the outsourcing of WWE’s core competencies – television and film production, live event production and licensing.”
“As part of the new business model, the company will also focus on the development of new television products including scripted, non-scripted and animated programs, as well as the launch of a new WWE network in the next 12-18 months,” added WWE in the statement.
WWE’s new branding initiative includes the slogan “Bigger. Badder. Better.”
