where is that theme restaurant?
Viacom helped the WWE set up a theme restaurant which no longer exists to this day. Bad service, lesser demand for overpay by being in a WWE themed restaurant, and the failure of Mtv Heat ultimately led to the doors being shut. Oh yeah, it’s costly to pay rent around Time Square, especially when you can’t get customers. • The XFL. By far, one of the biggest money pits of the Viacom deal. In April of 2001, the WWE reported only a $16 million profit from $456 million in total revenues after factoring in XFL losses (Assael/Mooneyham, 2002). The league only lasted one year and TNN, UPN, and NBC lost a lot on advertising revenues. They promised high ratings and sold advertisements based on high ratings. Once ratings started to heavily decline, the stations were forced to give discount rates on ads. Thus, lower advertising revenue to pay for the large operating costs of a start up league. With the XFL declining, the WWE stock took a major hit. Both Viacom and NBC took a $30 million stake, ea
