world wrestling entertain-a (WWE) Key Developments
WWE Promotes Lisa Fox Lee to Executive Vice President
Jan 19 15
WWE has promoted Lisa Fox Lee to Executive Vice President, Content, reporting directly to WWE Chairman & CEO Vince McMahon. In this newly created position, Lee will be a key member of the company's senior management team and oversee the strategic development and distribution of WWE programming and content across all platforms, including TV, WWE Network, WWE.com, WWE App and social media. In addition, Lee will oversee WWE's Creative Writing team with all TV creative continuing to run through Vince McMahon and WWE Executive Vice President, Paul Levesque.
World Wrestling Entertainment Inc. Presents at 17th Annual Needham Growth Conference, Jan-13-2015 05:30 PM
Dec 3 14
World Wrestling Entertainment Inc. Presents at 17th Annual Needham Growth Conference, Jan-13-2015 05:30 PM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, New York, United States. Speakers: George A. Barrios, Chief Strategy and Financial Officer, Stephanie McMahon.
Warner Bros. Home Entertainment and WWE Announce New Partnership
Nov 19 14
Warner Bros. Home Entertainment (WBHE) and WWE have announced a multi-year partnership for home video distribution of WWE programming that will start on January 1, 2015 and include US distribution rights for physical and digital formats. The new agreement will provide WBHE the home entertainment distribution rights to release new documentaries, match compilations and pay-per-view events, including WrestleMania(R) and SummerSlam(R), as well as a robust catalog of collectible titles throughout the US.
ATRESMEDIA and WWE Extend Partnership in Spain
Nov 13 14
WWE and ATRESMEDIA announced that they have extended their television distribution agreement and promotional partnership for two more years through 2016. Since originally partnering in 2013, the ratings for WWE's program, Monday Night Raw and SmackDown have more than doubled over the past year, which has led to the agreement being extended for another two years on ATRESMEDIA's channel NEOX.
World Wrestling Entertainment Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Full Year of 2014
Oct 30 14
World Wrestling Entertainment Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported a net loss of $5.9 million, or $0.08 per basic and diluted share, compared to net income of $2.4 million, or $0.03 per basic and diluted share, in the third quarter last year. Excluding items affecting comparability, adjusted OIBDA was $5.1 million and adjusted net loss was $0.6 million, or $0.01 per share in the current year quarter, compared to adjusted OIBDA of $16.7 million and adjusted net income of $7.0 million, or $0.09 per share, in the prior year quarter. Net revenues were $120.2 million compared to $113.3 million a year ago. Loss before income taxes was $10.5 million compared to income before income taxes of $3.3 million a year ago. Operating loss was $5.0 million compared to operating income of $3.2 million a year ago.
For the nine months, the company’ net revenues were $402.1 million compared to $389.6 million a year ago. Operating loss was $39.7 million compared to operating income of $18.1 million a year ago. Loss before income taxes was $45.8 million compared to income before income taxes of $16.5 million a year ago. Net loss was $28.5 million or $0.38 per basic and diluted share, compared to net income of $10.7 million or $0.14 per basic and diluted share, a year ago. Net cash used in operating activities was $5.2 million compared to net cash provided by operating activities $12.2 million a year ago. Purchases of property and equipment and other assets were $9.2 million compared to $18.3 million a year ago. Excluding items affecting comparability, negative adjusted OIBDA was $16.7 million and adjusted net loss was $22.2 million, or $0.30 per share in the current year, compared to adjusted OIBDA of $44.2 million and adjusted net income of $16.1 million, or $0.21 per share, a year ago.
The company revised earnings guidance for the full year of 2014. Compared to its previous Business Outlook released on July 31, 2014, the company has improved its 2014 adjusted OIBDA outlook by approximately $15 million to $20 million on an adjusted basis at all WWE Network subscriber levels. The improvement reflects the significant cost savings achieved to date.