45.50 -0.36 (-0.78%)
After hours: 7:59PM EST
|Bid||43.86 x 900|
|Ask||45.74 x 900|
|Day's Range||45.73 - 47.18|
|52 Week Range||40.24 - 100.45|
|Beta (5Y Monthly)||1.20|
|PE Ratio (TTM)||53.95|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||0.48 (0.99%)|
|Ex-Dividend Date||Mar 11, 2020|
|1y Target Est||57.06|
Despite a winless record heading into their inaugural home game, the Tampa Bay Vipers drew a home crowd of 18,117 fans — the third best home opener game attendance in the XFL. The Vipers entered the Feb. 22 game tied for a league worst record of 0-2, managing to only score nine and three points and failing to score a single touchdown in their first two weeks. Cornelius started the game and was quickly met by boos and chants for Flowers.
When Pakistani-American billionaire Shahid Khan took his 13-year-old son to an Extreme Championship Wrestling event in Philadelphia in 1996, he did not envisage they would be launching their own wrestling business 23 years later. Tony Khan, with his father’s backing, launched All Elite Wrestling in January 2019. A year on and the Jacksonville-based organisation is proving a worthy opponent to industry behemoth World Wrestling Entertainment.
On Jan. 30, WWE announced co-presidents George Barrios and Michelle Wilson are leaving the company effective immediately. Last Thursday, WWE's fourth-quarter revenue of $322.8 million came in well short of analyst expectations of $333.28 million. In addition, paid WWE Network subscribers dropped 10% in the quarter to 1.42 million.
Unfortunately for some shareholders, the World Wrestling Entertainment (NYSE:WWE) share price has dived 31% in the...
Following the sell-off, Cahall said near-term catalysts, including international TV deals and a strategic deal for the WWE Network, are likely skewed to the upside for WWE. Cahall said WWE’s valuation is getting penalized for the fact the company is making too many missteps. In the meantime, Cahall said WWE stock will likely no longer trade at a valuation premium to traditional media stocks.
Los Angeles Mayor Eric Garcetti, Inglewood Mayor James T. Butts Jr. and WWE® (NYSE: WWE) are proud to announce that SoFi Stadium and Hollywood Park in Los Angeles will host WWE’s pop-culture extravaganza, WrestleMania, on Sunday, March 28, 2021.
(Bloomberg Opinion) -- When professional sport has to choose between money and ethics, there’s usually only one winner.Amnesty International has dubbed it sportswashing: the practice of exploiting athletic events or investments to whitewash dubious human rights or criminal records. The group counts Russia’s hosting of the 2018 World Cup soccer tournament and 2014 Winter Olympics as examples, as well as Abu Dhabi’s ownership of City Football Group Ltd., the parent company of Manchester City Football Club. But England’s Premier League now has an opportunity to make a stand that could satisfy both financial and ethical imperatives.You see, Saudi Arabia’s sovereign wealth fund was reported last month to be in advanced talks to acquire Newcastle United Football Club for a reported 340 million pounds ($440 million). But at the same time, a company broadcasting in the kingdom is one of the biggest pirates of television programming in the world, not least of top soccer games.Is the Premier League likely to make a stand on Saudi Arabia’s human rights record, whether it be the alleged torture and assassination of political opponents, the persecution of LGBT communities or airstrikes in Yemen? It’s certainly hard to imagine. After all, the U.K. exports almost $3 billion of goods a year to Saudi Arabia. Why, the Premier League might ask, should it balk on principle when plenty of other industries sell their products there?That’s where the piracy comes in. When it comes to broadcasting, perhaps the biggest thorn in professional soccer’s side is a firm called BeoutQ. According to Qatari broadcaster BeIN Media, which holds the Premier League rights in the Middle East, the mysterious company takes its feed, superimposes its logo and then broadcasts it all through Arabsat, a Riyadh-based satellite network. So BeIN becomes Beout, geddit? Presumably the Q stands for Qatar — no-one said trolling had to be funny. (Arabsat, more than a third owned by Saudi, has denied broadcasting BeoutQ; and the head of the Saudi soccer federation has said the government isn’t involved in any piracy.)The transgressions might seem like another manifestation of the ongoing tensions between Saudi Arabia and neighboring Qatar — BeIN Media hasn’t been able to broadcast into Saudi Arabia since 2018. But it’s also costing the Premier League and a slew of others money. BeoutQ also pirates content from the British Broadcasting Corp. and Comcast Corp.’s Sky. Indeed, when BeIN decided not to renew its $30 million-a-year contract with Liberty Media Corp.’s Formula One competition last year, it cited the losses it was enduring from BeoutQ’s piracy.BeIN’s existing Premier League deal is worth $140 million a season, according to sports-rights publication Sportcal, equivalent to about 10% of the league’s overseas income. That would be a big hit for the Premier League were it to decide not to renew the deal because of the piracy. Which makes the Saudi interest in Newcastle United, a club which has fallen on harder times under the ownership of retail billionaire Mike Ashley, an important bargaining chip.Earlier efforts to tackle the problem have failed. The Premier League, alongside world governing body FIFA, European governing body UEFA, Spain’s La Liga, Italy’s Serie A and Germany’s Bundesliga, strongly condemned the intellectual property theft last year, noting they had failed to find a single law firm in Saudi Arabia willing to pursue the matter through available legal channels. They called on Saudi authorities to do something fast, given that the piracy remained rampant. To own a football team in the U.K., you have to pass the Owners’ and Directors’ Test, formerly known as the fit-and-proper person test. Its disqualifying conditions include any conviction for “dishonestly receiving a programme broadcast from within the U.K.” That might provide a little wiggle room for the Saudis to pass the test, but if the Premier League and the Football Association, soccer’s governing body in the U.K., have any gumption whatsoever, they should absolutely give it a shot. There are hundreds of millions of pounds of income at stake.Saudi Arabia may, in a sense, just be following archrival Qatar’s lead. Qatar’s own sovereign wealth fund acquired French team Paris Saint-Germain back in 2011, and the nation is set to host the World Cup in 2022. Indeed, BeIN CEO Nasser Al-Khelaifi is also the CEO of Paris Saint-Germain and is a member of the UEFA executive committee.Plenty of others have readily accepted lucrative contracts with Saudi investors and venues — boxer Anthony Joshua enjoyed a reported $70 million payday for his December fight with Andy Ruiz, dubbed Clash on the Dunes; the mythic Dakar Rally off-track motor race roared across the kingdom’s deserts in January for its first Middle East edition; Spanish soccer’s Super Cup also took place in Saudi Arabia this season; and World Wrestling Entertainment Inc. has a 10-year deal to host events there.Any move from the Premier League might stop short of demonstrating a strong and principled backbone. But the franchise does have the opportunity and the financial motive to extract some concessions from Saudi Arabia.To contact the author of this story: Alex Webb at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
XFL football returns this weekend for the fist time in 19 years. Commissioner Oliver Luck says it's here to stay.
World Wrestling Entertainment, Inc. (NYSE: WWE ) shares stabilized a bit to close out the week after the surprise departure of two top executives, disappointing 2020 guidance and a fourth-quarter revenue ...
World Wrestling Entertainment's (WWE) fourth-quarter revenues increase year over year. Notably, higher revenues at the Media segment contribute to the company's top line.
NEW YORK, NY / ACCESSWIRE / February 6, 2020 / Levi & Korsinsky notifies investors that it has commenced an investigation of World Wrestling Entertainment, Inc. ("WWE" or "the Company") ...
World Wrestling Entertainment stock is tumbling again after the wrestling and media company’s fourth quarter results disappointed investors.
(Bloomberg) -- Continued hardships for World Wrestling Entertainment Corp. pushed shares to the lowest since May 2018 as the company’s financial outlook underscored the struggle it faces to re-energize fans.Investors had already been bracing for a disappointment after WWE warned that 2019 earnings were lower than previously forecast, spurring a management reshuffle. Thursday’s plunge came after the company forecast first-quarter operating income between $60 million and $65 million, trailing Wall Street’s estimate of $67.5 millionWWE’s outlook came with the caveat that it’s “subject to considerable uncertainty,” an indication that efforts to improve fan enthusiasm and increase the money generated from its content remain in limbo. Management is pursuing strategic alternatives for its WWE Network streaming service as well as distribution agreements in the Middle East and India, said interim Chief Financial Officer Frank Riddick.Thursday’s drop pushed the decline since the Jan. 30 earnings warning to 31%.“While we expect 2020 will ultimately come in above the guidance range assuming a successful TV deal renewal in India, this is nonetheless a negative surprise,” John Belton, an analyst at Evercore, wrote in a note calling the company’s forecast a “stone cold stunner.” What plans are being considered for the WWE Network will get full focus on the company’s earnings call, he added.Read more: McMahon Forces WWE Executives to Tap Out After Earnings SlipVince McMahon, the pro-wrestling giant’s chief executive officer, fired two of his top executives a week ago as earnings were dimmed by lower live event ticket sales and a decline in streaming subscriptions. The absence of a wrestling video series on Facebook Watch also added to the blow, the company said. The shakeup rattled investor confidence, wiping out more than $1 billion of the company’s market value the next day.Rosenblatt says “it will be crucial for them to answer how much for the lower expected guide is driven by strategic alternatives for the WWE Network versus increased investment.”(Updates with context, analyst comments)To contact the reporter on this story: Kamaron Leach in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Richard RichtmyerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
World Wrestling Entertainment was plunging Thursday after the sports entertainment company reported fourth-quarter revenue below estimates and said its outlook was uncertain. WWE shares dropped 15.5% to $41.50 Thursday after it reported earnings of 78 cents a share on revenue of $322.8 million, an 18.5% increase from the year-earlier quarter. "During the fourth quarter, we expanded the reach of WWE's live programming and further engaged with diverse audiences across platforms and formats," said CEO Vince McMahon.
Today we'll look at World Wrestling Entertainment, Inc. (NYSE:WWE) and reflect on its potential as an investment...
Shares of World Wrestling Entertainment Inc. plunged 19% toward a 21-month low in premarket trading Thursday, after the media and entertainment company missed revenue expectations and said there was "considerable uncertainty" regarding the 2020 outlook. Net income rose to $69.3 million, or 78 cents a share, from $41.2 million, or 46 cents a share, in the year-ago period. The FactSet consensus for net earnings per share was 74 cents. Revenue rose 18.5% to $322.8 million, but was below the FactSet consensus of $333.3 million, as media, live events and consumer products revenue all missed expectations. The company said it was pursuing "several strategic initiatives" that could increase monetization of its content in 2020, including distribution of content in the Middle East and India and the evaluation of alternatives for its direct-to-consumer service, "WWE Network," but said in a statement: "At this time, the outcome of these initiatives is subject to considerable uncertainty." The company also reported results, and provided a 2020 outlook, in terms of adjusted operating income before depreciation and amortization (OBIDA), which it describes as a non-GAAP (generally accepted accounting principles) that "may be different than similarly titled non-GAAP financial measures used by other companies." The stock, which is on track to open at the lowest price seen during regular-session hours since May 3, 2018, has plummeted 38.6% over the past 12 months through Wednesday, while the S&P 500 has gained 22.1%.
On Thursday, February 6, World Wrestling Entertainment (NYSE: WWE ) will release its latest earnings report. Check out Benzinga's preview to understand the implications. Earnings and Revenue World Wrestling ...
While the Super Bowl may have come and gone, football is still very much alive in Tampa Bay.
World Wrestling's (WWE) fourth-quarter 2019 results are likely to reflect gains from higher adjusted OIBDA. However, softness in subscriber base poses a threat.