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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/

Quote:
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, 05:26 PM   #61
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by The Bad Guy View Post
Then don't watch it and stop crying about people who enjoy it.

I'm sure you like plenty of ****ing absurd things. I could give a **** about all of them.
You can't listen to Lone Woof , he thinks Johnny Football is fake too.
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Old 05-17-2014, 05:39 PM   #62
LoneWolf LoneWolf is offline
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Originally Posted by Hog Farmer View Post
You can't listen to Lone Woof , he thinks Johnny Football is fake too.
I don't think that at all. I know it. The amount of crow you will be downing after JFF sucks balls in the NFL is going to be epic.
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Old 05-17-2014, 05:56 PM   #63
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It's not performance art because everything they do is to try to perpetuate that what they are showing is real. The announcers give the commentary like it is a real contest, they declare a "winner", and they even give out championship belts.

If I go and see Romeo and Juliet, when Juliet drinks the poison there isn't somebody backstage yelling for someone to call 911. An ambulance doesn't come pulling up to the theater and the EMT declare Juliet has died. They don't put her body in a body bag and haul her off only to have the same actress perform the next night.

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.
Wait. Are you saying it's not real?
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Old 05-17-2014, 06:01 PM   #64
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by LoneWolf View Post
I don't think that at all. I know it. The amount of crow you will be downing after JFF sucks balls in the NFL is going to be epic.
I cannot wait to watch the show. Hope you're wrong and I really think you will be.
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Old 05-17-2014, 06:33 PM   #65
Reaper16 Reaper16 is offline
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This awful thread finally got me to block LoneWolf. Not because he doesn't like wrestling, but because of how illogical post #46 is. It'd been a long time coming, too.
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Old 05-17-2014, 06:48 PM   #66
LoneWolf LoneWolf is offline
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Quote:
Originally Posted by Reaper16 View Post
This awful thread finally got me to block LoneWolf. Not because he doesn't like wrestling, but because of how illogical post #46 is. It'd been a long time coming, too.
Instead if being a pussy and blocking posters you don't agree with, why don't you enlighten us all on why post #46 was so illogical.

Can someone pease quote this post so that ****ing pussy Reaper can read it.
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Old 05-17-2014, 06:54 PM   #67
Pasta Little Brioni Pasta Little Brioni is offline
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Quote:
Originally Posted by LoneWolf View Post
Instead if being a pussy and blocking posters you don't agree with, why don't you enlighten us all on why post #46 was so illogical.

Can someone pease quote this post so that ****ing pussy Reaper can read it.
Ok
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Old 05-17-2014, 07:01 PM   #68
cosmo20002 cosmo20002 is offline
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Originally Posted by DaFace View Post
People still watch wrestling?
Define "people."
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Old 05-17-2014, 07:02 PM   #69
cosmo20002 cosmo20002 is offline
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Originally Posted by mcaj22 View Post
they are better athletes than anyone on the Chiefs roster.
not sure if serious
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Old 05-17-2014, 07:15 PM   #70
Dragonocho Dragonocho is offline
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Peter Koch played DL for the Chiefs from 1985-87.
Lol. My brother played high school football with that dude.
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Old 05-17-2014, 07:31 PM   #71
DaFace DaFace is offline
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Originally Posted by cosmo20002 View Post
Define "people."
...I wasn't going to go that far. I admit that I have a perception that people that are into WWE have...questionable taste. But to each his own.
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Old 05-17-2014, 07:34 PM   #72
Reaper16 Reaper16 is offline
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...I wasn't going to go that far. I admit that I have a perception that people that are into WWE have...questionable taste. But to each his own.
People who don't like football have the exact same perception of people who do. Meh.
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Old 05-17-2014, 07:35 PM   #73
cosmo20002 cosmo20002 is offline
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I'm guessing most folks have outgrown their interest in the rasslin. I know I did when I hit 13 or so.
A lot of people on this board believe that the NFL is all fixed by the league. Yet, they are still big NFL fans. I'm guessing these same folks are the ones who still like pro rasslin.
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Old 05-17-2014, 07:42 PM   #74
Reaper16 Reaper16 is offline
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This is a pretty good breakdown of this investor kerfuffle the WWE is in right now: http://www.cagesideseats.com/wwe/201...d-on-a-platter
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Old 05-17-2014, 07:52 PM   #75
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