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World Wrestling Entertainment, Inc. (WWE)

  • Jul. 25, 2014, 2:43 PM
    • World Wrestling Entertainment (NYSE:WWE) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 3.85%
    • Payable Sept. 25; for shareholders of record Sept. 15; ex-div Sept. 11.
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  • Jul. 17, 2014, 12:15 PM
    • Shares of World Wrestling Entertainment (WWE +6.5%) move higher on heavy volume on renewed buyout speculation.
    • The M&A buzz in the media sector kicked into a higher gear yesterday after 21st Century Fox made an offer for Time Warner.
    • Though the streaming sub growth at WWE hasn't dazzled, analysts think the initiative could still draw interest from a company on the distribution side of the business.
  • May. 26, 2014, 10:12 AM
    • Mari Cibelli's Marathon Partners - as its name suggests - invests for the long haul with a concentrated portfolio of growth names. Since the fund's 1997 inception, it's up an annualized 16.8%, more than double the S&P 500, and Cibelli is taking advantage of the selling in small caps to add to his favorites.
    • One recent buy is Shutterfly (SFLY) which makes up about 20% of Marathon's AUM. Cibelli thinks consumers will grow disenchanted with rival products from Facebook and Snapchat, and sees SFLY revenue growing 16% per year through 2016, and enterprise value more than doubling to about $2.4B by then.
    • Marathon's 2nd-largest holding is XOOM, where he expects pre-tax earnings to jump to $80M from less than $10M this year. If the stock sells for 20x that figure, it should more than double from here.
    • World Wrestling Entertainment (WWE) is Marathon's 4th-largest holding at 6% of AUM, and the pummeling since March has brought the shares back down to around Cibelli's original 2011 purchase price of $11. The NBCUniversal deal will increase WWE's revenue by 50% instead of 100%, and Cibelli has adjusted his target price accordingly, but still sees the stock as a double by 2016.
  • May. 23, 2014, 8:11 AM
    • 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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  • May. 22, 2014, 6:41 AM
    • WWE Studios will partner with Lions Gate (LGF) for six new action films under the terms of a new deal between the companies.
    • The World Wrestling Entertainment (WWE) subsidiary has worked with Lions Gate before on productions to some degree of success.
    • Paul Wright, also known as Big Show, will star in the first film of the new partnership.
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  • May. 17, 2014, 8:25 AM
    • World Wrestling (WWE) shares plunged 43% Friday after CEO Vince McMahon failed to wring a huge increase in TV fees from NBCUniversal, raising questions about WWE's future and highlighting a shortcoming in McMahon's leadership style: While an unbeatable promoter, he has at times struggled to master corporate negotiations and dealings with Wall Street.
    • McMahon took the TV negotiations personally: He played hardball in talks with NBCUniversal, demanding to more than double the value of their previous ~$100M deal, but he wound up renewing the deal with an increase analysts estimate at 50% - nice, but well short of what Wall Street had come to expect, and what McMahon may have bragged he would get.
    • "The bottom line is no other entities were willing to pay a higher price tag for the programming than its current partner.” analyst Daniel Moore says.
    • Despite being short WWE two months ago, Lemelson Capital is now long WWE and calling for the board to replace the management team or explore a sale of the company.
  • May. 16, 2014, 12:46 PM
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  • May. 16, 2014, 9:17 AM
  • May. 15, 2014, 6:57 PM
    • World Wrestling Entertainment (WWE) says it reached a new multi-year television deal with NBCUniversal for Raw to return to the USA Network and Smackdown to run on Syfy.
    • An early afternoon report tipping off the deal sent shares 3% higher during regular trading but have plunged 20.2% AH, perhaps because the actual announcement failed to include financial terms.
    • WWE also says it expects to potentially double or triple its 2012 operating income before depreciation and amortization to $125M-$200M by 2015, based on an aggressive ramp of 2M-2.5M subscribers.
  • May. 1, 2014, 8:48 AM
    • World Wrestling Ent. (WWE): Q1 EPS of -$0.11 beats by $0.05.
    • Revenue of $125.6M (+1.3% Y/Y) beats by $2.57M.
    • Press Release
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  • Apr. 25, 2014, 3:01 PM
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  • Apr. 15, 2014, 11:53 AM
    • DirecTV (DTV -1%) will stop broadcasting World Wrestling Entertainment's (WWE +1.7%) pay-per-view events, according to a report from Pro Wrestling Torch.
    • The companies are battling over the streaming launch of the WWE Network.
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  • Apr. 11, 2014, 3:58 PM
    • "World Wrestling (WWE -3.9%) is facing multiple challenging factors, including underwhelming subscription figures for their WWE network in addition to a multi-year negative earnings trend, suggesting that the firms' intrinsic value is materially lower than the current stock price," says Emmanuel Lemelson, who made the case for shorting the stock a few weeks back on Seeking Alpha, and updated his argument after Monday's disappointing video channel subscriber numbers.
    • "The stock may have gotten a little ahead of itself, and a lot of momentum names have been fading," concedes The Vertical Group's Kim Opiatowski, but the subscription numbers were good ones. He continues to rate the name a Buy with $33 price target.
    • Lemelson puts fair value at no more than $11.88 per share.
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  • Apr. 7, 2014, 12:45 PM
  • Apr. 7, 2014, 11:53 AM
    • Shares of World Wrestling Entertainment (WWE -19.9%) are slammed after the company releases subscriber totals for its online video channel.
    • A sub count of 667K is below early expectations for a mark of closer to a million.
    • WWE had almost double YTD on enthusiasm over the online venture before today's selling frenzy.
  • Mar. 17, 2014, 9:49 AM
    • Media analysts think that if Vince McMahon decides to sell off his controlling stake in World Wrestling Entertainment (WWE +0.1%) that a host of buyers would be waiting in the wings.
    • The "attractive" WWE franchise could be of interest to Comcast or Madison Square Garden with its streaming model just starting to take hold.
    • Shares of WWE got a push higher last week off a rumor that AMC Networks wanted to convince Vince to sell.
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Company Description
World Wrestling Entertainment Inc is an integrated media and entertainment company. It is engaged in the production and distribution of content through various channels including digital over-the-top (OTT) WWE Network, live events and feature films.