WWE officials continue to negotiate with investment company for the WWE Network ...
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WWE is currently in negotiations with at least one investment company about partnering up for the WWE Network. The story is is that people will be amazed when they find out the current programming vision, which has reportedly changed greatly.
WWE rarely takes on partners in their business ventures because Vince McMahon doesn't like answering to other people and has a joke about how they don't play well with others.
In the negotiations, WWE is pitching that the Network would have extremely low programming costs compared to other networks since the majority of the programming would be their old wrestling tape library that they own and don't have to buy any licensing fees for.
You can believe that other sports entertainment companies are watching developments closely, as well as the potential deal getting the attention of the television and programming world as a whole.
WWE top dog Vince McMahon prepared for Connecticut violence backlash...
There was concern at this week's TV tapings that the tragedy in Newtown, Connecticut may affect the product in some way because of an anti-violence media backlash, particularly when it comes to shows that draw kids. Vince McMahon told people that he expects to be targeted for the effect wrestling has on children, and that they will fight back with charity work and pushing the idea that WWE is family entertainment.
WWE issues press release re THQ filing for bankruptcy...
WWE issued the following press release regarding THQ filing for bankruptcy:
"WWE (NYSE:WWE) is listed in THQ, Inc.'s recent bankruptcy filing as an unsecured creditor holding a claim of approximately $45 million reflecting the entirety of the existing multi-year agreement. Any impairment of a current THQ account receivable would be immaterial to WWE's financial statements. Even if the impact of THQ's bankruptcy were detrimental to WWE, the Company does not believe that the ultimate economic impact for financial statement purposes would materially and adversely affect the results of operations or financial position of WWE in light of the strength of the WWE brand and the historical performance of WWE's video game business."
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