Vince McMahon takes full control over WWE Studios

Reported by Ernest Aguilar

The announcement of WWE Studios self-distributing and promoting their own movies means that their deals with Lionsgate and 20th Century Fox have gone out of the window. 

Variety is also reporting that Vince McMahon is now taking full control over WWE Studios. 

"We've learned a great deal that brings us to where we are now," McMahon told Daily Variety. "This is an opportunity for us to completely control everything from the production all the way through to release. We're putting our money where our mouth is." 

WWE Studios intends to have a budget of around $5 million for each movie in order to reduce the company's risk but also increase the potential upside from hits. 

Variety has the full, interesting story here.