Seeking Alpha

Execs at World Wrestling Entertainment on the defensive

  • Shares of World Wrestling Entertainment (WWE) are on watch after sinking over 40% in less than a week.
  • Execs were on the defensive this week on the impact of the company's shift from a pay-per-view business to a subscriber model.
  • CFO George Barrios said at a JPMorgan conference that the company is less than halfway to reaching its goal of 1.3M-1.4M subscribers for the WWE Network.
  • Meanwhile, CEO Vince McMahon looks to be trying to unwind some of the initial bravado over a deal with NBCUniversal with several law firms stirring things up for disgruntled shareholders.
  • JP Morgan Global Technology, Media and Telecom Conference webcast
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