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I think he's too old to be on TV at this point. Visually he just looks wrong for WWE TV.
However they can still use him in a couple of ways. First, he can be used for WWE DVDs', acting as a host for things like "From The Vault" releases.
He can also be a key part of the 24/7 deal they are going to be starting. Figure he's been around for most of the footage, so he'd be the logcial guy to introduce it and talk over it.
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