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It’s been rumored for years, but WWE officially announced a rebranding of the company late last week. According to online reports and official press releases, the company formerly known as World Wrestling Entertainment will now officially be known as simply “WWE.”

Yet the changes go more that name-deep. Under the new business model, while WWE is committed to its core business inside the squared circle, the company will now begin a new focus of re-committing themselves to expanding their entertainment offerings outside the ring, including scripted, unscripted and animated content.

In fact, CEO Vince McMahon hinted that WWE Tough Enough, a revival of the company’s reality-show franchise that lets aspiring wrestlers and divas take their shot at earning a WWE contract, is the first offering in this new emphasis, with many more on the way.

It’s all a build-up for the launch of a WWE TV network as a cable-satellite offering, scheduled for launch sometime in 2012. NBC Universal, which owns USA Network and SyFy, have long been rumored partners with WWE in the launch of this channel.

Finally, Paul Levesque, known in-ring as Triple H, was announced as the head of a new Talent Development department. Levesque is married to Stephanie McMahon, Vince’s daughter. The first signing WWE made under Levesque’s leadership was Sin Cara, the talented Mexican wrestler who debuted on Raw last week. The new division will apparently put a greater emphasis on talent acquisition from around the globe, rather than primarily from North America.

About the only new business arm WWE won’t be expanding into – yet – is offering the cheapest car insurance.

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