Wednesday, July 20, 2011

CNBC Reporter Believes Wrestling Storylines Are SEC Offences.

When you tell someone you watch wrestling, one of the first things someone who doesn asks you is "You know it's fake, right?"

Apparently no one has ever said this to CNBC sports business reporter Darren Rovell.

There was a storyline on Monday where Vince McMahon was being pushed out of the top spot in the company by HHH. And Darren Rovell ran with it.

Right. A clearly scripted entertainment show where a real life personality plays a character based on themselves is breaking an SEC rule by playing out a story based scenario.

It is like me taking what is happening on 30 Rock to be a reflection of what is going on at NBC. If I went on CNBC and stated that Tracey Jordan was the real power behind NBC Television decisions, I would be politely asked what I was on and they would cut away to someone who wasn't insane.

Or that Seinfeld was all real.

Really? Did anyone outside of Rovell's head think Vince McMahon was really being replaced during a live telecast? By former wrestler (and yes, his son-in-law too)? How often does that ever happen in any business.

If you were a stockholder and you believed that was real, then I am sorry, you just haven't done your due diligence in the company and you deserve whatever you get.

Then again, Rovell also thought that stockholders would somehow believe that during a live broadcast, Vince McMahon was blown up in his limo and that again should be subject to an SEC investigation.

And the sad thing is, WWE wrestling is programming on NBC-affiliated networks, so Rovell is in essence using his platform on CNBC to rip on programming on sister stations and in doing so, he is using up whatever credibility he has talking about sports business, because I am sure that outside of sports entertainment, he knows what he is talking about.

Then again, he is on one of the networks that didn't see the downturn coming, so hey, maybe he has as much expertise as his peers in predicting things in his field. Who knows?


Semaj said...

wow, I guess this writer has never watch much of the WWE attitude era storylines. this stuff has been happening for years.

MC said...

He thinks investors would be totally fooled by storylines... but really, it is just due diligence to check in on things at a company you've invested money in.