Weekly News Round-Up: AEW & IMPACT partnership, HUGE WWE Releases & many more

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Alexander

Meet Alex, the seasoned wrestling aficionado and Lead Writer at WrestleBuddy. With three decades of fandom under his belt, Alex brings a wealth of experience and passion to the table. As a devoted follower of The Undertaker and CM Punk, his love for the sport runs deep. However, be warned – Alex isn't afraid to offer raw and unfiltered opinions that some may find harsh. In a world where reality can be hard to digest, Alex isn't afraid to tackle the tough truths of the wrestling industry head-on.

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5. ROH Owner in millions of debts!

Last week’s biggest news was ROH releasing their every single talent and they announced that the company will rebrand itself in 2022. There were so many so many conflicting reports about ROH on sale. ROH is owned by SInclair Broadcasting & they released their third quarter financial results. There are some shocking numbers, including a great deal of debt. The company press release in its entirety is included below.

Third Quarter Highlights

Consolidated total revenue of $1,535 million was flat to the third quarter of 2020.

Consolidated operating income of $73 million, including $27 million of non-recurring costs for transaction and transition services, COVID, legal, and regulatory costs (“Adjustments”), increased compared to an operating loss in the third quarter of 2020 of $4,216 million, which included a $4,264 million impairment taken on the Local Sports segment relating to goodwill and definite-lived intangible assets, and $13 million of Adjustments. Excluding the Adjustments and impairment, operating income of $100 million increased $39 million compared to the third quarter of 2020.

Net income attributable to the Company was $19 million versus a net loss of $3,256 million in the prior year period. Excluding the Adjustments, the Company had net income of $39 million.

Consolidated Adjusted EBITDA, which excludes the Adjustments, of $451 million, decreased 39% versus the third quarter of 2020.

They purchased ROH in 2011 to provide original programming for its portfolio of local television stations. They will continue to broadcast archived ROH programming for the time being. Plans for a potential relaunch of the ROH weekly TV series are unknown.

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About Author

Alexander

Meet Alex, the seasoned wrestling aficionado and Lead Writer at WrestleBuddy. With three decades of fandom under his belt, Alex brings a wealth of experience and passion to the table. As a devoted follower of The Undertaker and CM Punk, his love for the sport runs deep. However, be warned – Alex isn’t afraid to offer raw and unfiltered opinions that some may find harsh. In a world where reality can be hard to digest, Alex isn’t afraid to tackle the tough truths of the wrestling industry head-on.

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