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Old 05-16-2014, 11:56 PM  
tk13 tk13 is offline
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Vince McMahon lost $350 million today.
And you thought you had a bad day.

http://www.forbes.com/sites/danalexa...lion-in-a-day/

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WWE CEO Vince McMahon No Longer Billionaire After Losing $350 Million In A Day

Vince McMahon lost $350 million as of market close on Friday, as shares in his WWE took a beating from investors. The stock was down more than 40% since the market open. In fact, the stock, which had closed just below $20 on Thursday, opened down below $11. That immediately knocked the WWE boss out of the billionaire ranks, putting his net worth now at an estimated $750 million.

The stock fell after news that WWE had signed a new television deal with NBCUniversal for less than some investors had hoped. Benchmark analyst Mike Hickey estimated WWE got a 50% raise over its last TV agreement, but he expected the new deal to pay WWE double or triple its previous one.

“The company’s valuation could take a heavy beating this morning, as the new domestic TV deal with NBCUniversal likely disappointed investors,” he wrote in a report downgrading the price target for the company’s stock from $29.12 to $19.96.

WWE executives kept an even tone but offered little additional guidance. “We never commented publicly on the expectation,” said George Barrios, chief strategy and financial officer. “We said we were undervalued by the math that we had done.”

The new TV deal hit at a turbulent time for WWE and McMahon. The company’s shares shot up 89% in the first three months of 2014, and McMahon’s net worth peaked in mid-March at $1.6 billion. But shares dropped 29% the week after WWE announced its new online streaming network had only 667,000 subscribers, taking a $325 million chunk out of McMahon’s fortune. He remained a billionaire until this morning.

Some investors saw the trouble coming. Intrepid Capital Management, once WWE’s largest outside investor, sold its 10% stake in January. Intrepid’s Jayme Wiggins told Forbes in a feature story on McMahon that he thought the billionaire was getting too excited about his new online streaming network.

That concern remains, but Wiggins now has additional questions after reading the company’s financial projections provided in the news release about the TV deal. The online streaming network should break even when it has 1.5 million subscribers, according to Wiggins, but WWE said its operating income will be just $40-$60 million at that point—even with new TV deals that will add $90 million to the company’s revenue.

“The question is why their numbers are so low given this renewal,” Wiggins said. “With the information that they put out there, it seems to imply that their core business isn’t making money.”
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Old 05-17-2014, 07:55 AM   #16
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People still watch wrestling?
Come out, come out if you watch this no need to hide.
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Old 05-17-2014, 07:56 AM   #17
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People still watch wrestling?
They just got about $200 million total in worldwide TV deals, nearly double what they'd been getting previously, so... yeah.

The whole falling stock thing is because Vince McMahon, being Vince McMahon, was strutting around acting like he'd get a billion.
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Old 05-17-2014, 08:47 AM   #18
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I can't believe anyone watches that crap. The sooner it goes away the better.
You're a cynical douchebag. Not even a funny douche.
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Old 05-17-2014, 08:50 AM   #19
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Originally Posted by BigRock View Post
They just got about $200 million total in worldwide TV deals, nearly double what they'd been getting previously, so... yeah.

The whole falling stock thing is because Vince McMahon, being Vince McMahon, was strutting around acting like he'd get a billion.
He did the same thing with the WWE Network strutting around guaranteeing his investors they would get 1 million buys right out the gate. Stock fell when that wasn't the case.

Stock always falls cause McMahon projects outrageous claims his company can't cash, so investors always make him pay to build it back up
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Old 05-17-2014, 08:55 AM   #20
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Originally Posted by confused View Post
You're a cynical douchebag. Not even a funny douche.
Because in my opinion fake wrestling is one of the worst things on television? How does that make me a cynic?
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Old 05-17-2014, 09:14 AM   #21
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Originally Posted by LoneWolf View Post
Because in my opinion fake wrestling is one of the worst things on television? How does that make me a cynic?
they are better athletes than anyone on the Chiefs roster.
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Old 05-17-2014, 09:43 AM   #22
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I'd rather stare at my carpet for hours on end before I'd watch wrestling.
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Old 05-17-2014, 09:44 AM   #23
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Originally Posted by mcaj22 View Post
they are better athletes than anyone on the Chiefs roster.


Better "actors" too.
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Old 05-17-2014, 09:45 AM   #24
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This is why executives' number one priority is always selling a growth story to Wall Street. Customers come second. You only have to change the projected growth rate of a little bit for the entire curve of expected revenues to flatten out.
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Old 05-17-2014, 09:56 AM   #25
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WWE is the reason USA is normally the top cable network. I'm surprised NBC didn't try to move WWE over to NBCSN for ratings for that network.
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Old 05-17-2014, 10:16 AM   #26
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Because in my opinion fake wrestling is one of the worst things on television? How does that make me a cynic?
I'm not a big wrestling fan anymore.....but it's far from fake. Yes it's scripted and staged, but it's not fake. Those guys really are out there throwing their bodies around. Guys and girls get hurt all the time.
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Old 05-17-2014, 10:19 AM   #27
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Why is the WWE still in business? If you want to watch a fight, then MMA exists and its unscripted.
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Old 05-17-2014, 10:36 AM   #28
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I can't believe anyone watches that crap. The sooner it goes away the better.
It's not going away
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Old 05-17-2014, 10:37 AM   #29
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Why is the WWE still in business? If you want to watch a fight, then MMA exists and its unscripted.
It's athletic theater. Apples to oranges
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Old 05-17-2014, 12:42 PM   #30
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Originally Posted by Deberg_1990 View Post
I'm not a big wrestling fan anymore.....but it's far from fake. Yes it's scripted and staged, but it's not fake. Those guys really are out there throwing their bodies around. Guys and girls get hurt all the time.
Are the outcomes predetermined? Is every precaution taken to try to minimize injuries? If the answer to both those questions is "yes", then it is fake.
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