World Wrestling Entertainment should be just fine after management change

First, this is a business that's been in the family for a long time. Vince McMahon, for all intents and purposes, should end up being the equivalent of his wife in terms of effectiveness. He understands the nuances of this particular medium of entertainment just as well as she does.

Second, it's not like change is going to hurt anything. Perhaps the move will be a catalyst for different promotions and schemes, ones that will bring on a new round of growth. Third, my read of the price action is that Wall Street isn't too disapproving of Mr. McMahon's leadership qualifications. When you think about it, this just isn't in the same league as Bob Iger replacing Michael Eisner as top mouse at Disney (NYSE: DIS). There was arguably more at stake in that particular alteration of management structure.

Here's what WWE investors do need to worry about: the company's movie ambitions. There's an opportunity for Mr. McMahon, no doubt about it. Management still hasn't figured out how to adequately leverage the brand equity of the company's stable of characters and/or actors to deliver a proper return on investment from celluloid assets.

Nope, this shuffle at the top isn't mind-blowing. I do like WWE's business, and I'm always thinking about getting in on the stock. Haven't made the buy yet, though. I would very much like to see a huge pullback before contemplating sending in a buy order.

Disclosure: I own Disney; positions can change without notice.