Post by gvb on Nov 27, 2019 5:15:58 GMT -6
MWE Headquarters
Chicago, IL
Monday, November 27th, 2019
Following a number of closed-door meetings with the Board of Directors, Millennium Wrestling Entertainment today announced that as of November 27, 2019, they have resolved to acquire National Oriental Wrestling in accordance with the provision of the existing regulations.
The acquisition includes the company’s video library, its existing titles and its contracted wrestlers, as well as any existing sponsorship and television broadcasting deal currently in effect.
Effective immediately, the talents previously signed with NOW are now considered, for all intents and purposes, MWE employees. It has been announced, however, given the circumstances surrounding the acquisition, that talent will be granted their release should they decide to take their talents elsewhere. Final contractual obligations will be resolved by the general managers of Millennium and Riot: Chloe Collins and Yulia Kirilenko, respectively.
The fate of the two NOW championships, the ICC Heavyweight Championship and the ICC Junior Heavyweight Championship are yet to be determined, pending the employment status of the current champions about the extension of their contracts with MWE.
The circumstances that lead to this acquisition are the most unfortunate. MWE again extended its deepest condolences to Mr Li Che-woo’s family and former employees. A spokesperson for MWE was quoted, saying: “He may be gone, but he will never be forgotten. His dream and his legacy will be carried into our company with the utmost respect.”
More news as it develops.