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Post by CandyKANE on Feb 6, 2003 13:10:40 GMT -5
It appears that the ECW bankruptcy case is close to being settled, and that WWE will end up with control of all ECW assets. The main ECW asset is the massive video archives. American Cable Productions claim that they have the rights to the footage since ECW never paid them for their services and thus breached their contract.
Credit: 1wrestling.com
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Post by CandyKANE on Feb 6, 2003 20:03:49 GMT -5
ECW's original owner from 1993 to May of 1995, Tod Gordon, may claim a stack in the valuable ECW video library that WWE is currently fighting for. Gordon was the sole owner of ECW from '93 to '95 and if he gets involved, he could get the portion of the library from '93-'95. That could impact WWE's desire for the footage.
Credit: 1wrestling.com
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Post by CandyKANE on Feb 8, 2003 9:49:32 GMT -5
Apparently the WWE is still trying to acquire the rights Extreme Championship Wrestling from the bankruptcy trustee. What the WWE is looking to buy of ECW's is:
* ECW's intellectual properties, including wrestler names, likenesses, photographs, video library (not the actual tapes, but the rights to use the footage). Also included are the names that Extreme Championship Wrestling and Paul Heyman owned. This could open up the WWE to owning wrestler and tag teams names that ECW has trademarked or copy-wrote. This could smell trouble for wrestlers who are not in the WWE using their ECW names.
* Anything ECW had in the past and the future, claim wise.
* The American Cable Productions own the ECW tapes, and their tapes would be apart of the sale. This would cost the WWE $243,000 for these tapes, paid to the ACP.
The WWE would have to make payments and settle some of the past ECW bankruptcy problems, including:
* $31,808.05 claim of Advanced Transportation Services.
* Attorney's fees in the litigation with InDemand over unpaid receivables from the pay-per-views.
* Minimum purchase price ($1.28 million)
* Any sales taxes or transfer fees that result from the sale of ECW.
Break down of what the WWE would be paying from Extreme Championship Wrestling (ECW):
* $1.28 million - minimum purchase price
* $31,808.05 - Advanced Transportation claim
* $50, 000.00 - Trustee's attorney fees for InDemand litigation
* Undetermined sales taxes for the purchase/sale
The minimum as of now that the WWE would be paying for ECW would be $1,361,808.05, which does not include many of the fees.
Credit: OtherArena.com
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