|Over a week ago|
WWE backs FY21 adjusted OIBDA view $270M-$305M » 16:1407/2907/29/21
In January, the Company…
In January, the Company issued Adjusted OIBDA guidance of $270 million to $305 million for the full year 2021. During the second quarter, key performance metrics demonstrated positive trends, and the Company continue to realize better-than-expected television production efficiencies, stronger sponsorship sales, and heightened demand for its live events. However, management is not adjusting full year 2021 guidance at this time given ongoing caution regarding the potential impact of COVID-19 and its variants on WWE's operations. Additionally, the Company anticipates spending on its new headquarters buildout as the projects re-starts in the second half of 2021. For the full year 2021, the Company estimates total capital expenditures of [$85 million to $105 million]. The increase in capital expenditures for 2021 reflects the acceleration of certain construction spend, as the overall cost of construction - net of tenant incentives, tax credits and other capital offsets - has not materially increased. The total net cost of the Company's new headquarters through completion is estimated within a range of [$160 million to $180 million].
WWE reports Q2 EPS 34c, consensus 23c » 16:1307/2907/29/21
Reports Q2 revenue…
Reports Q2 revenue $265.6M, consensus $251.95M. "During the second quarter, we generated solid financial results as we continued to focus on building fan engagement," said Vince McMahon, WWE Chairman & CEO. "With the announced return to live event touring and robust ticket demand, we believe we can further consumption across platforms, maximize new business opportunities and drive long-term growth."
WWE, Blumhouse partner to develop limited scripted aeries » 09:0707/2607/26/21
WWE and Blumhouse…
WWE and Blumhouse Television are partnering to develop a limited scripted series called, "The United States of America Vs. Vince McMahon." Jason Blum's company, Blumhouse, will develop the series for television, led by Blumhouse TV president Chris McCumber. The series will be the first-ever scripted dramatic portrayal of a chapter in WWE's history. Additionally, it is also the first scripted portrayal of McMahon as well as many of the wrestlers of that era.
WWE and Iconic Events Releasing team to bring 'SummerSlam' to movie theaters » 09:1107/2207/22/21
WWE and Iconic Events…
WWE and Iconic Events Releasing announced a new partnership that brings SummerSlam, WWE's biggest event of 2021, to movie theaters nationwide for the first time. The event will air live on Saturday, August 21 at 8 pm ET/5 pm PT and will be one of the first sporting events held at full capacity at Allegiant Stadium, and the first time it will be held at an NFL venue. "Iconic Events Releasing is proud to be in partnership with WWE to bring their incredible brand to movie theaters coast to coast," said Iconic CEO Steve Bunnell. "SummerSlam is a marquee event that demands to be seen on the big screen, with big sound, in an auditorium full of excited fans." Iconic Events Releasing brings live and filmed entertainment of all types to movie theaters as special limited engagement events, so that fans can gather together to watch their favorites on the big screen. Programming includes live pay-per-view sports, music and comedy specials, stand-up comedy events, award-winning television specials, Broadway productions, exciting holiday specials, family events, live events for album releases, rock concerts, and music docs that celebrate diversity. Iconic's national theater network represents the country's preeminent cinemas offering enhanced guest experiences, high-quality food & beverage service, and reserved seating to ensure families can enjoy a night out watching SummerSlam live in their local movie theater.
WWE price target raised to $54 from $51 at Barclays » 06:3107/0607/06/21
Barclays analyst David…
Barclays analyst David Joyce raised the firm's price target on WWE to $54 from $51 and keeps an Overweight rating on the shares. Improvements in sentiment related to the return of regular live events coming in Q3 lead to the target increase, Joyce tells investors in a research note.
|Over a month ago|
WWE too small to 'go it alone' in today's streaming world, says Needham » 10:5406/2206/22/21
Needham analyst Laura…
Needham analyst Laura Martin maintains her FY21 and FY22 estimates and Buy rating on WWE (WWE), which she views as a reopening trade as live events start up again. WWE is in the process of selling its offshore over-the-top, or OTT, network rights after licensing its U.S. OTT Network rights to Comcast's (CMCSA) Peacock for what she views as "an excellent price," noted Martin, who also argues that WWE will be sold "some day" since she believes the company is "too small to 'go it alone' in today's streaming industry populated by giant companies." Martin maintains a $65 price target on WWE shares.
WWE partners with Credit One Bank on 'Champion Credit Card' » 10:4706/1606/16/21
Credit One Bank announced…
Credit One Bank announced the launch of the WWE Champion Credit Card, which it calls "the first credit card unveiled as part of the multiyear agreement with global entertainment company WWE." The company said: "The WWE Champion Credit Card gives card members the opportunity to show off their love of WWE while earning cash back rewards on everyday purchases... Credit One Bank and WWE will be working together to provide additional card member benefits specifically tailored for WWE fans."
WWE rises 16.6% » 10:0006/0906/09/21
WWE is up 16.6%, or $9.64…
WWE is up 16.6%, or $9.64 to $67.79.
WWE appoints Samira Shah as general counsel, Jamie Horowitz as EVP » 10:0206/0106/01/21
WWE announced three…
WWE announced three additions to the organization's senior leadership team. Joining the company will be Jamie Horowitz as Executive Vice President, Development & Digital, Samira Shah as General Counsel and Corporate Secretary, and Matt Drew as Senior Vice President, International. Horowitz will oversee much of WWE's original content including scripted and unscripted programs for digital and social media. Horowitz will also be responsible for WWE Studios in Los Angeles. Most recently, Horowitz served as Executive Vice President, Global Content at DAZN where he oversaw the company's original programming, social content and editorial strategy. As General Counsel and Corporate Secretary, Shah will oversee WWE's legal affairs and serve as principal legal adviser for the company. Her oversight will include litigation, intellectual property, corporate governance, government relations, risk management, talent contracts and compliance. Most recently, Shah served as General Counsel and Corporate Secretary at Moda OperandiAs SVP, International, Drew will be charged with . growing WWE's brand and business outside of the U.S. In addition to managing WWE's global media partners, he will work with other company leaders to devise WWE's international strategy for live events, digital, consumer products and new revenue opportunities. Drew previously served as Executive Vice President, Rights Acquisition at DAZN.
WWE announces return to live event touring with 25-city schedule » 08:3205/2105/21/21
WWE announced it will…
WWE announced it will return to live event touring with a 25-city schedule through Labor Day. The tour will debut this July in Texas with a trio of shows. Additional tour stops and on-sale dates will be announced in the coming weeks.