CBS News: Special Report
Posted by CBS News
on January 16, 2023, 1:48 pm
The CBS press room comes to life as President and CEO George Cheeks makes his way to the podium to address the gathered reporters. (George Cheeks): Good Morning! Today, CBS Broadcasting Inc. officially announces a $1 billion, multi-year deal to the broadcasting rights of Hardcore Wrestling Alliance programming. Our… Before he can continue, the room explodes with chatter as reporters go into a frenzy of questions. Mr. Cheeks politely holds his hand up, as a gesture of patience and signifying order as he points to a reporter and begins to take questions. (Reporter): Paul Pringle, Los Angeles Time…HWA went belly-up and has been defunct since 2015. Isn’t this seen as a extraordinary risk by CBS executives? (George Cheeks): To be frank, yes! It is a risky, yet we believe a credible move. Many remember HWA as once being the largest wrestling promotion in the industry until a broad series of investigations and legal troubles forced the company off the air and into the shadows as you said. To say the least it was not an accident waiting to happen, but one that already had. It was a trainwreck in the truest sense that no network or affiliate would dare associate with at the time. (Reporter): Ray Long, Chicago Tribune. Mr. Cheeks, HWA was driven into obscurity by the very woes you just mentioned. Why then would CBS seek the acquisition of a company with this level of corporate baggage? (George Cheeks): Ray, contrary to popular belief, the intellectual property of HWA alone continues to carry significant valuation. Moreover, in recent years under current ownership the company has made great efforts, and has had tremendous success in reshaping its business model and restoring its reputation. Mr. Cheeks closes his briefing folder and looks out over the room of reporters. (George Cheeks): Look, we believe in this partnership. We believe in our ability to support the HWA’s return as a, if not “the” global leader in professional wrestling once again. It is a very different company from what you once saw. There are some very exciting things in the works, but I’ll leave that to our partners to outline in their upcoming announcements. We here at CBS look forward to this new venture and trust that in the coming weeks as things evolve…the Hardcore Wrestling Alliance will once again be the topic of conversation the world over. Thank You all for coming. With that Mr. Cheeks leaves the podium to a chorus of questions being thrown his way and cameras flashing marking the end of this major CBS News announcement.
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