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IN BRIEF / Entertainment

WWF Says Revenue May Miss Forecasts

July 31, 2001|Bloomberg News

World Wresting Federation Entertainment Inc., the biggest professional wrestling producer, said it may miss revenue forecasts for fiscal 2002 as the advertising market weakens and its contract with Hughes Electronics Corp.'s DirecTV is set to expire next month.

WWF said its television advertising revenue may be hurt because of an "extremely soft" advertising market. The company also said it has not agreed to new terms on a contract with DirecTV, which may affect estimates for total pay-per-view purchases. WWF, like other media companies, is being hurt by one of the slowest advertising markets in a decade. Stamford, Conn.-based WWF said it expects revenue to rise 8% to 10% a year. Shares fell 6 cents to close at $12.89 on the New York Stock Exchange.

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