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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 08:38 EDT
Benchmark analyst Mike Hickey said WWE delivered "a considerably weak FY20 OIBDA range" along with its Q4 report, which also disappointed, given uncertainty around international content agreements and an increase in investments. The recent management shake-up and profitability shortfall has shaken investor confidence, but he views this as a clearing event and would "position opportunistically" for the long-term. The analyst, who still thinks WWE offers an investment opportunity with significant upside, keeps a Buy rating on the stock but lowered his price target on the shares to $57 from $79.
News For WWE From the Last 2 Days
Dec 2, 2021 | 09:08 EST
WWE announced the launch of a name, image and likeness, or NIL, program that will provide a pathway from collegiate athletics to WWE. Following a new policy by the NCAA effective July 1, which ushered in the NIL era allowing college athletes the ability to monetize their name, image and likeness, WWE has constructed a program to recruit and develop potential future Superstars. Dubbed "Next In Line," the NIL program aims to enhance the talent development process through collaborative partnerships with college athletes from diverse athletic backgrounds. All athlete partnerships will feature access to the WWE Performance Center in Orlando, Florida, in addition to resources across the organization including brand building, media training, communications, live event promotion, creative writing and community relations. Upon completion of the NIL program, select athletes may earn an exclusive opportunity to be offered a WWE contract. In September, WWE announced its first NIL deal with heavyweight freestyle wrestler Gable Steveson who captured a gold medal at the Tokyo Olympics. The agreement allowed Steveson to return to the University of Minnesota for his senior season where he is defending his NCAA National Championship while beginning his Superstar training with WWE.