November 22, 2001 |
Dwindling TV audiences and the terrorist attacks have dampened fans' appetite for the World Wrestling Federation Entertainment Inc.'s made-up mayhem. The company posted a 49% decline in net income Wednesday for its fiscal second quarter and warned that full-year sales may slip by as much as 13%. WWF said net income totaled $4.8 million for the three months ended Oct. 26, down from $9.5 million for the same period a year earlier. Revenue fell 12% to $98.2 million.
November 10, 2001 |
World Wrestling Federation Entertainment Inc. is laying off 39 people, or 9% of its work force, and replacing its chief operating officer as the company struggles to recover from a profit slump. Stuart Snyder, president and chief operating officer, is resigning. Pete DiNicola, a senior vice president, will become chief operating officer and executive vice president, reporting to Chief Executive Linda McMahon. Several executives who had reported to Snyder will now report directly to McMahon.
August 24, 2001 |
World Wrestling Federation Entertainment Inc., the biggest professional wrestling producer, said Thursday that fiscal first-quarter profit fell 21%, hurt by a slowing advertising market and lower ratings. Profit for the period ended July 27 declined to $12 million, or 16 cents a share, from $15.2 million, or 22 cents, a year earlier. Revenue fell 11% to $90.7 million, from $101.9 million. WWF's revenue from TV ads fell 17% in the quarter.
July 31, 2001 |
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.
June 29, 2001
The failure of the XFL football league delivered a hit to World Wrestling Federation Entertainment Inc., which posted a fourth-quarter net loss of $20.4 million and full-year profit that was a third of what it was a year ago. WWF's quarterly loss was 28 cents per share, compared with pro forma profit of $9.5 million, or 14 cents, for the year earlier quarter. Analysts surveyed by First Call had expected a quarterly loss of 2 cents per share. . . . Walt Disney Co. has named John H.
March 24, 2001 |
World Wrestling Federation Entertainment Inc. on Friday said it is buying World Championship Wrestling from Turner Broadcasting System Inc., creating a tag-team franchise that has housed the Rock and Hulk Hogan. Financial terms were not disclosed, but analysts estimate that WCW lost about $80 million last year. Shares of WWFE closed down 1 cent at $12.10 on the New York Stock Exchange, off more than 40% from a high of $21.59 in late January.