WWE Takes Out Huge Line Of Credit For New Channel

By Justin LaBar

The Wrestling Observer is reporting that WWE has taken out $200 million line of credit with JP Morgan Chase Bank.  WWE said they would be doing this because interest rates are low right now and it would be used to help finance the new television network which is set to launch sometime in 2012. Vince McMahon stated earlier this year that the company would be willing to go into debt spending, which is something they have avoided doing in past years for any project.

Justin LaBar
Justin LaBar

Justin is is the Executive Producer and Co-host of "Chair Shot Reality" which airs every weekend on WrestleZone. LaBar also hosts a weekly audio podcast called "Wrestling Reality" which is available for download everywhere.  You can now read some of his WWE opinions on upgruv.com. He also is a producer and performer for IWC Wrestling in Pittsburgh which has been a sustained indy company with history dating back to 2001. He is also occasionally featured on NBC Sports and 120 Sports for WWE commentary. He's a former WWE columnist for Bleacher Report and the Pittsburgh Tribune-Review.

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