It has been confirmed that WWE Chariman and CEO Vince McMahon has signed a new 3 years employment contract with WWE which would be effective from 1,Jan,2011,with the contract renewing each year beyond that unless either party chooses not to extend.
He will serve as Creative Director as well as be a writer and performer along with his old duties of Chairman and CEO,
Mr. McMahon’s annual base salary will be $1,100,000 and he’ll be entitled to an annual bonus target of 100% of base salary, depending on “degree of achievement of corporate and individual performance.” He’s entitled to 4 weeks of paid vacation per year.
McMahon's and his family is also allowed to use WWE’s corporate jet for personal use when the aircraft is not needed for business purposes.
You can read WWE’s official filing with the at Securities And Exchange Commission on WWE.com here.
Friday 26 November 2010
Monday 15 November 2010
WWE Releases Five Wrestlers & Referee
World Wrestling Entertainment released five developmental talents over the weekend; Dr. Cable Jones, Devin Allen, Fahd Rakman, Ron Myers, Rhys Ali and referee Daniel Skyler.
All six were removed from the roster page of the official website of Florida Championship Wrestling.
Byron Saxton, Rhys Ali, Lucky Cannon and Eli Cottonwood had been removed from the FCW web site but this was an accident and they were not cut.
All six were removed from the roster page of the official website of Florida Championship Wrestling.
Byron Saxton, Rhys Ali, Lucky Cannon and Eli Cottonwood had been removed from the FCW web site but this was an accident and they were not cut.
Saturday 6 November 2010
World Wrestling profit jumps
Its third-quarter net income jumped 60 percent to top expectations as cost cuts offset a decline in revenue said by WWE inc on Thursday.
The poor economy and WWE's ongoing transition between wrestling characters were essential factors in the declines said CEO Vince McMahon.
World Wrestling Entertainment Inc. said Thursday that its third-quarter net income jumped 60 percent to top expectations as cost cuts offset a decline in revenue.
CEO Vince McMahon said the weak economy and WWE's ongoing transition between wrestling characters were important factors in the declines.
The Stamford, Conn., entertainment company said it earned $14.3 million, or 19 cents per share, in the three months ended Sept. 30. That compares with earnings of $8.9 million, or 12 cents per share, in the same quarter of 2009.
Excluding one-time items, the company earned 14 cents per share. Revenue fell nearly 2 percent to $109.6 million, as increased international sales only partly offset a drop in North America revenue.
The results beat the average estimates of analysts surveyed by Thomson Reuters, who expected earnings of 12 cents per share on $108.3 million in revenue. Analysts typically exclude one-time items from their estimates.
Selling, general and administrative expenses were $24.3 million, down from $33.1 million the prior year. That helped offset a 5 percent drop in net revenue from its biggest unit, live and televised entertainment, to $73.8 million. WWE said it had 15 fewer events in North America during the quarter but lower average attendance, both domestically and internationally, was offset by higher average ticket prices.
Consumer product revenue fell 7 percent to $21.4 million and digital media businesses, including the company's web sites, fell 8 percent to $6.8 million. Revenue from WWE studios, which had seven released films, more than doubled to $7.6 million from $3 million last year, however.
World Wrestling shares rose 30 cents, or 2.2 percent, to close at $13.96.
The poor economy and WWE's ongoing transition between wrestling characters were essential factors in the declines said CEO Vince McMahon.
World Wrestling Entertainment Inc. said Thursday that its third-quarter net income jumped 60 percent to top expectations as cost cuts offset a decline in revenue.
CEO Vince McMahon said the weak economy and WWE's ongoing transition between wrestling characters were important factors in the declines.
The Stamford, Conn., entertainment company said it earned $14.3 million, or 19 cents per share, in the three months ended Sept. 30. That compares with earnings of $8.9 million, or 12 cents per share, in the same quarter of 2009.
Excluding one-time items, the company earned 14 cents per share. Revenue fell nearly 2 percent to $109.6 million, as increased international sales only partly offset a drop in North America revenue.
The results beat the average estimates of analysts surveyed by Thomson Reuters, who expected earnings of 12 cents per share on $108.3 million in revenue. Analysts typically exclude one-time items from their estimates.
Selling, general and administrative expenses were $24.3 million, down from $33.1 million the prior year. That helped offset a 5 percent drop in net revenue from its biggest unit, live and televised entertainment, to $73.8 million. WWE said it had 15 fewer events in North America during the quarter but lower average attendance, both domestically and internationally, was offset by higher average ticket prices.
Consumer product revenue fell 7 percent to $21.4 million and digital media businesses, including the company's web sites, fell 8 percent to $6.8 million. Revenue from WWE studios, which had seven released films, more than doubled to $7.6 million from $3 million last year, however.
World Wrestling shares rose 30 cents, or 2.2 percent, to close at $13.96.
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