Backstage Update On WWE Leadership and Triple H’s Status Following JPMorgan Stock Report

A recent JPMorgan report has raised questions about recent business trends of WWE. However, there is no expectation of an immediate leadership shakeup inside the company, according to the latest edition of the Wrestling Observer Newsletter.

The Wall Street firm recently lowered its price target for TKO from $225 to $222. In its report, JPMorgan noted the fan dissatisfaction, declining RAW viewership on Netflix, and lower-than-expected demand for SummerSlam tickets.

“WWE fan dissatisfaction is worth watching but is not yet a structural problem. Premium live event viewing appears to be growing, although RAW ratings are trending down year over year.”

According to Dave Meltzer, however, there is no expectation that the report will lead to any immediate “shakeups” at the top of WWE. In the Wrestling Observer Newsletter, Meltzer reported that any real pressure on WWE President Nick Khan and Chief Content Officer Paul “Triple H” Levesque would likely come closer to 2028 if WWE’s business metrics fail to improve.

The company’s major agreements, including its Netflix and USA Network deals, run through the end of 2029. However, he also noted that if the numbers remain strong, “things will stay the way they are,” including the reactions to external things like stock prices and viewership numbers. (via F4WOnline)

“Regarding this, from inside WWE, while obviously once this has gotten to JP Morgan which affects stock price it is a story. I was told even so, right now nothing is expected to happen until around 2028 at which point the Netflix deal and USA deals will be in play, with both ending at the end of 2029. If numbers aren’t strong, we’re told that’s when Mark Shapiro and company will really start pressuring Nick Khan and Levesque. And if numbers are strong, things will stay the way they are, which would include some reactions to outside things like this and numbers.”

🚨📉 JP Morgan have dropped their price target for TKO stock down to $222 (down from $225) in part due to negative fan sentiment towards the WWE product as of late.

While this certainly isn’t a crisis and JP Morgan still remain high on TKO, it does mean investors will be keeping… pic.twitter.com/7z1ih6yCKZ

— WRESTLING REPUBLIC (@wraslinrepublic) July 25, 2026