Barry Bloom helped announcers get royalties in wrestling.
Jesse Ventura may not have had a long announcing career, but his impact is unquestionable as he took WWE to litigation in the early 90s and helped announcers get royalties.
Appearing on Talk Is Jericho, agent Barry Bloom explained how he helped Ventura in the process.
"He said, ‘I think I’m going to have to sue Vince over royalties from video tapes.’ He started to pursue that, to have discussions with his attorney and WWF. They, of course, were saying, ‘Nope, announcers don’t get video tape royalties.’ His lawyers took over with discussions and at the same time this was happening, we’re in early 1992, and WCW came to me. They heard I worked with Jesse (Ventura). A gentleman named Kip Allen Frey. ‘I’d like to talk to you to see if Jesse is interested in coming to work for WCW.’ Jesse, of course, was interested because he was getting ready to take legal action against WWF. He said, ‘I want to get this deal with WCW done first.’ He wanted the security, he didn’t want to get embroiled in a legal action and then try to be negotiating at the same time with WCW. He also, in the deal with WCW, we made very clear that as an announcer he would receive royalties on video tapes. He wanted that in place to show the court and jury that it was something happening. He was very smart to say that, his lawyers as well. He had full rights to enter into a new deal with a wrestling company, there was no restriction at all. We closed the deal, it was a two-year deal, broke through new ground for any announcer. It was not for wrestling, only for announcing. That deal was in place. Shortly after that, they filed an action in 1992 against WWF. It literally took close to two years to get to trial," said Bloom.
Bloom was a witness for Jesse. WWF appealed the verdict and tried to take it the supreme court but it never made it there.
"There was actual percentage (of royalties) in his new deal with WCW, so it was a bench mark. That was used in figuring, they used that in figuring the damages that were owed him from WWF. He won a total of $810,000. That took two and a half years of fighting," he said.
Ventura returned to WWE in 1999, serving as the special guest referee in the main event of SummerSlam.
Elsewhere during the interview, Bloom explained his role in helping Scott Hall join WCW. You can find his full comments by clicking here.
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