WWE price target raised to $37 from $30 at Loop Capital » 09:2507/1007/10/20
Loop Capital analyst Alan…
Loop Capital analyst Alan Gould raised the firm's price target on WWE to $37 from $30 but keeps a Sell rating on the shares. The analyst says his new FY20 OIBDA forecast of $261M, up from $218M prior, assumes higher digital ad revenue and increased cost savings, though the company's TV ratings continue to be challenging. Gould also scales back his estimates for the next round of WWE TV renewal rates, which are expected in 2024 and 2025.
|Over a week ago|
WWE names Kristina Salen as CFO, effective August 3 » 11:3407/0707/07/20
WWE (WWE) announced the…
WWE (WWE) announced the appointment of Kristina Salen as CFO reporting directly to WWE Chairman & CEO Vince McMahon, effective August 3, 2020. Salen served as the first CFO of Etsy (ETSY).
Renee Young catches COVID-19 as WWE hit with multiple cases, Newsweek says » 13:2806/2506/25/20
WWE, FOXA, T
The presenter and host of…
The presenter and host of WWE (WWE) Backstage on FS1 (FOXA) confirmed that she has tested positive for COVID-19. "Man. What a few days. My show gets cancelled and I get Covid. Wear your masks and wash your hands. Stay safe, everyone," the tweet reads. On Wednesday, Pro Wrestling Sheet's Ryan Sating had reported that multiple people who were at WWE's Performance Center in Orlando, Florida tested positive for coronavirus this week, including in-ring talent. In a statement provided to Newsweek from, WWE said it "will continue COVID-19 testing of its talent, production crew and employees in advance of TV productions for the foreseeable future." Meanwhile, Young's husband, the AEW star Jon Moxley, was pulled from the June 24 episode of Dynamite on TNT (T) after having "contact with someone who had contact with someone who has COVID-19," All Elite Wrestling President and CEO Tony Khan said on Twitter. Reference Link
WWE, Discovery announce new partnership in Italy » 05:5706/2406/24/20
WWE (WWE) and Discovery…
WWE (WWE) and Discovery (DISCA) announced a new multi-year agreement in Italy beginning Wednesday, July 1 that will make WWE's weekly flagship programming available exclusively live and on-demand with original U.S. commentary on DPlay PLUS, the OTT premium pay service of Discovery, along with versions featuring Italian commentary on DMAX (Channel 52). Every week, Dplay PLUS will exclusively air Monday Night Raw and Friday Night SmackDown live, captivating fans with a unique combination of edge-of-your-seat action, unpredictable drama and world-class athleticism. NXT will be available on-demand via Dplay PLUS every Thursday morning.
WWE price target raised to $50 from $45 at Needham » 08:4506/2306/23/20
Needham analyst Laura…
Needham analyst Laura Martin raised the firm's price target on WWE to $50 from $45 and keeps a Buy rating on the shares. The company has been an "unforeseen beneficiary" of the pandemic since it has never stopped creating new content while announcing several cost-cutting initiatives that will result in higher EBITDA during Q2 and in the second half of 2020, the analyst tells investors in a research note. Martin is also raising her FY20 OIBDA estimate for WWE to $245M, up 36% from last year and 5% from her prior forecast.
|Over a month ago|
WWE to adjourn annual meeting until July 9th » 17:0106/0406/04/20
World Wrestling Entertainment announced that for a third time it intends to convene and then immediately adjourn, its scheduled June 11, 2020 Annual Meeting of Stockholders until July 9, 2020 due to ongoing COVID-19 health concerns.
WWE Network's free version a 'step forward', says MKM Partners » 08:5506/0206/02/20
MKM Partners analyst Eric…
MKM Partners analyst Eric Handler keeps his Buy rating and $52 price target on WWE, saying the company's plan to drive gradual improvement in monetization to its network took a "step forward" with the launch of "The Free Version". The analyst notes that the free tier should not only help to promote engagement, but also to reduce friction and conversion to the paid service. Handler adds that the new services should have no impact on the management's decision to pursue a licensing arrangement with a third party for the Network and its pay-per-view events.
WWE launches free version of WWE Network » 09:1106/0106/01/20
WWE unveiled the free…
WWE unveiled the free version of WWE Network, the company's digital streaming service, unlocking a vast portion of its content library with more than 15,000 action-packed WWE titles now available for free, no credit card required.
WWE participates in a conference call with Wolfe Research » 10:2305/2705/27/20
Media Analyst Janedis…
Media Analyst Janedis holds a conference call with Interim CFO Riddick on May 27 at 11 am hosted by Wolfe Research.
WWE to adjourn annual meeting for second time due to COVID-19 concerns » 17:0205/0805/08/20
WWE announced that for a…
WWE announced that for a second time it intends to convene and then immediately adjourn its scheduled May 14, 2020 Annual Meeting of Stockholders until June 11, 2020 due to Governor Lamont's stay-at-home/stay-safe executive order for the State of Connecticut. Such date was chosen in order to conform with the Delaware General Corporation law relating to adjournments, however, the June meeting may again be adjourned to a later date. To ensure the health and safety of its employees, stockholders, and others who attend the Annual Meeting, the Company will continue to carefully monitor the situation as such date approaches. The record date will remain February 20, 2020. Stockholders should comply with applicable restrictions and not attend the Annual Meeting on May 14. The Company will keep its stockholders apprised of all updates relating to the annual meeting as they become available.