News
WWE News: WWE Second Quarter Earnings Report Released, Record Revenue
| World Wrestling Entertainment, Inc.
Consolidated Statements of Cash Flows (In millions) (Unaudited) |
||||||
| Six Months Ended | ||||||
| June 30, | ||||||
| 2018 | 2017 | |||||
| OPERATING ACTIVITIES: | ||||||
| Net income | $ | 24.8 | $ | 6.0 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: |
||||||
| Amortization and impairments of feature film production assets | 3.5 | 5.8 | ||||
| Amortization of television production assets | 12.8 | 10.7 | ||||
| Depreciation and amortization | 16.6 | 16.6 | ||||
| Loss on equity investment | 3.0 | — | ||||
| Services provided in exchange for equity instruments | (1.6) | (1.4) | ||||
| Other amortization | 3.1 | 3.2 | ||||
| Stock-based compensation | 22.5 | 12.8 | ||||
| Benefit from deferred income taxes | (0.1) | — | ||||
| Other non-cash adjustments | 2.1 | 0.4 | ||||
| Cash (used in) provided by changes in operating assets and liabilities: | ||||||
| Accounts receivable | (7.2) | (2.6) | ||||
| Inventory | (0.3) | (1.8) | ||||
| Prepaid expenses and other assets | (5.2) | (5.4) | ||||
| Feature film production assets | (0.6) | (7.8) | ||||
| Television production assets | (14.4) | (7.6) | ||||
| Accounts payable, accrued expenses and other liabilities | 6.4 | (9.2) | ||||
| Deferred income | 11.4 | (5.9) | ||||
| Net cash provided by operating activities | 76.8 | 13.8 | ||||
| INVESTING ACTIVITIES: | ||||||
| Purchases of property and equipment and other assets | (12.2) | (12.5) | ||||
| Purchases of short-term investments | (64.5) | (88.7) | ||||
| Proceeds from sales and maturities of investments | 36.1 | 13.7 | ||||
| Purchase of investment securities | — | (0.1) | ||||
| Other | 1.0 | — | ||||
| Net cash used in investing activities | (39.6) | (87.6) | ||||
| FINANCING ACTIVITIES: | ||||||
| Repayment of debt | (2.3) | (2.6) | ||||
| Dividends paid | (18.5) | (18.3) | ||||
| Proceeds from borrowings under the credit facilities | — | 1.4 | ||||
| Proceeds from borrowings on convertible notes, net of issuance costs | — | 14.5 | ||||
| Proceeds from issuance of warrants | — | 1.5 | ||||
| Purchase of convertible note hedge | — | (2.6) | ||||
| Taxes paid related to net settlement upon vesting of equity awards | (0.2) | (0.1) | ||||
| Proceeds from issuance of stock | 0.9 | 0.8 | ||||
| Net cash used in financing activities | (20.1) | (5.4) | ||||
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 17.1 | (79.2) | ||||
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 137.7 | 212.0 | ||||
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 154.8 | $ | 132.8 | ||
| NON-CASH INVESTING TRANSACTIONS: | ||||||
| Purchases of property and equipment recorded in accounts payable and accrued expenses |
$ | 3.6 | $ | 2.0 | ||
| World Wrestling Entertainment, Inc.
Supplemental Information – Reconciliation of Adjusted Net Income (In millions, except per share data) (Unaudited) |
||||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||||
| 2018 | 2017 | |||||||||||||||||
| As Reported |
Loss on Investment | Adjusted | As Reported |
Film Impairments |
Adjusted | |||||||||||||
| Operating income | $ | 21.2 | $ | — | $ | 21.2 | $ | 10.7 | $ | 1.1 | $ | 11.8 | ||||||
| Interest expense | 4.7 | — | 4.7 | 3.7 | — | 3.7 | ||||||||||||
| Loss on equity investment (1) | 3.0 | (3.0) | — | — | — | — | ||||||||||||
| Investment and other income, net | 1.0 | — | 1.0 | 0.8 | — | 0.8 | ||||||||||||
| Income before taxes | 14.5 | 3.0 | 17.5 | 7.8 | 1.1 | 8.9 | ||||||||||||
| Provision for income taxes (2) | 4.5 | 0.6 | 5.1 | 2.7 | 0.4 | 3.1 | ||||||||||||
| Net income | $ | 10.0 | $ | 2.4 | $ | 12.4 | $ | 5.1 | $ | 0.7 | $ | 5.8 | ||||||
| Earnings per share – diluted (3) | $ | 0.11 | $ | 0.03 | $ | 0.14 | $ | 0.06 | $ | 0.01 | $ | 0.07 | ||||||
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News
Former WWE Star Reveals How Company Tests Wrestlers for an “Attitude Problem”
A former WWE star took to social media to explain, in brief, how WWE evaluates its talent to determine whether they have an “attitude problem.” The post offered a glimpse into the company’s behind-the-scenes vetting process, suggesting that behavior and professionalism are actively monitored during a wrestler’s time with the promotion.
While the explanation was limited, the revelation underscores WWE’s focus on maintaining locker-room culture and managing talent dynamics. Fans and industry observers may read the post as further evidence that character and conduct behind the curtain can be as consequential as in-ring performance.
Originally reported by Wrestling Inc.: https://www.wrestlinginc.com/2171344/wwe-tests-wrestlers-attitude-problem-dijak-oba-femi/.
Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - 4 Corners Podcast (sports)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Nefarious Means
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SATURDAY - The Mindless Wrestling Podcast
SUNDAY - 30 Mindless Minutes
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Attitude Of Aggression Podcast: The Big Five Project (chronologically exploring WWE's PPV/PLE history) Unidentified History (Ufology) & Game Gone Wrong (Game of Thrones Universe)
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WWE Backlash Match Sparks “Clone War” Debate in Wrestling Community
Wrestling fans and insiders are abuzz after a match at WWE Backlash was accused of “copycatting” a formula previously used by an independent wrestler, a situation some are calling a new “clone war” in the industry. The controversy highlights growing concerns about creative overlap between major promotions and the indie scene.
The debate raises questions about originality and recognition, with observers wondering whether mainstream companies should acknowledge or adapt indie ideas more transparently. As the story spreads, fans and performers alike are watching to see how promotions handle influence, credit, and creative borrowing moving forward.
Originally reported by Wrestling Inc.: https://www.wrestlinginc.com/2174560/wwe-backlash-danhausen-clone-lifted-elements-independent-show/
Chairshot Radio Network
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MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - 4 Corners Podcast (sports)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Nefarious Means
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - 30 Mindless Minutes
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast: The Big Five Project (chronologically exploring WWE's PPV/PLE history) Unidentified History (Ufology) & Game Gone Wrong (Game of Thrones Universe)
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