Jul. 25, 2014, 2:43 PM| Comment!
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
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.
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
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| Comment!
Apr. 25, 2014, 3:01 PM| Comment!
Apr. 15, 2014, 11:53 AM
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.
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.
WWE vs. ETF Alternatives
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.
Other News & PR