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Fly News Breaks for October 8, 2015
WWE
Oct 8, 2015 | 08:33 EDT
After meeting with WWE's CFO at a wrestling event, Wells Fargo says that it heard "a few positive data points" about The WWE Network, although it did not get an update on subscriptions. Wells reports that two recent WWE events it attended were sold out, while the company's cable ratings, although down, are falling less than those of most entertainment networks. Wells notes that the company collects licensing revenue ,not ad revenue ,from cable networks, so its near-term results will not be affected by ratings declines. Wells keeps an Outperform rating on the shares.
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