World Wrestling Entertainment announced its 2nd Quarter results for 2012. Revenues were off by $1 million from last year and there was no word on the launch of the WWE Network. The much-talked about Network and the much-maligned film division were the key reasons for the shortfall in this quarter’s revenues. Interestingly, the launch of […]
financial
Zuffa Maintains “BB” Credit Rating After $50M Add-On
Standard and Poor’s February report states that it has maintained Zuffa’s credit rating at “BB” following a $50 million add-on proposed to it’s senior secured term loan, which now has a sum of $525 million. The issue-level rating on the term loan in ‘BB’, which is the same as the corporate credit rating, with a […]
SEC Files Order Against ProElite
On March 20th, the Security and Exchange Commission (SEC) issued an administrative release stating that ProElite was delinquent in its periodic filings with the Commission, having filed some but not all of the required periodic reports. The release can be read below: SEC PE Filing The order states the following: ” ProElite, Inc. (“PELE”) (CIK No. […]
WWE Earnings disappoint for Q4
The WWE announced its Q4 2011 results on Thursday and the earnings were described as disappointing. WWE earnings were lower for the fifth straight quarter. The main culprit for the poor performance of the company was its film division and television licensing decisions according to Vince McMahon. In addition, costs from starting the WWE Network […]
Pacquiao’s economic impact in Vegas
The NY Times reports on the economic impact Manny Pacquiao has on Las Vegas. Its a good read on how Pacquiao’s popularity has a trickle down economic affect on Vegas during fight weekend. The third fight in the trilogy sold out within 2 weeks of tickets going on sale. Gross sales are expected at $11.8 […]