World Wrestling Federation body-slams its own name
Date: 08-May-02
Country: USA
With the famous name and logo retired along with legends like George "The Animal" Steele and Ricky "The Dragon" Steamboat, the company will now be known as World Wrestling Entertainment Inc., or WWE.
The company said it would look for a replacement for its New York Stock Exchange symbol; The flagship WWF restaurant in Times Square will be renamed The World.
WWF, which created popular television shows like "Raw" and "Smackdown," has branched out into books, video games, music and movies, including the recent box office champ "The Scorpion King," starring the Rock.
Not all of its ventures have been knock-outs. The fledgling XFL football league on General Electric Co.'s NBC network was canceled after one season.
WWF officials cited the company's losing battle royal with the environmental conservation group World Wildlife Fund over the WWF initials as one factor behind the switch. Chief Executive Linda McMahon said in a statement the name change will "allay the concerns of the Fund."
Dispensing with the "federation" in its name also removes the vestigial traces of professional wrestling as an actual sport, rather than violent theater. WWF founder Vince McMahon admitted in 1989 that WWF wrestling bouts were scripted, in part to avoid a tax on sporting events.
WWF stock ended four cents higher at $15.18 on the NYSE.
