Forbes published an article today noting that Vince McMahon lost $340 million today with the WWE stock price drop.<\/p>\n
WWE issued the following release announcing that they will address stockholders this Monday:<\/p>\n
WWE\u00ae to Host Business Outlook Conference Call<\/strong><\/p>\n STAMFORD, Conn., May 16, 2014 (BUSINESS WIRE) \u2014 WWE announced that it will host a conference call on Monday, May 19, 2014 to discuss the Company’s 2014 and 2015 Business Outlook. The Company’s Chairman & CEO, Vincent K. McMahon, and the Company’s Chief Strategy & Financial Officer, George Barrios, will host the conference call beginning at 11:00 a.m. ET.<\/p>\n All interested parties are welcome to listen to a live web cast that will be hosted through the Company’s web site at corporate.wwe.com . Participants can access the conference call by dialing 1-888-424-8151 or 1-847-585-4422 using the passcode: 7849998. Please reserve a line 15 minutes prior to the start time of the conference call.<\/p>\n The Company’s Business Outlook release to be referenced during the call is available at ir.corporate.wwe.com. A replay of the call will be available after the conference call concludes, and can be accessed on the Company’s web site. <\/p>\n ——————————————–<\/p>\n – Investment firm Lemelson Capital announced today that they have taken a major stake in WWE shares and have called on WWE’s Board of Directors to replace the current executive management team. Below is their press release:<\/p>\n Lemelson Capital Announces Stake In World Wrestling Entertainment And Calls On Board To Pursue New Management Or Ownership<\/p>\n Marlborough, MA, May 16, 2014 — Lemelson Capital, LLC, a private investment management firm, today announced that they had taken a stake in shares of World Wrestling Entertainment (WWE) and called on the Board of Directors to replace the executive management team of the company following a period of consistent losses, execution issues and material misstatements.<\/p>\n Despite the stock’s roughly 63% correction since Lemelson Capital’s original short call less than two months ago (from $30.37 on March 17 to $11.33 as of publication of this release), the firm today also reiterated that fair value of WWE’s common stock is between $8.25 and $11.88.<\/p>\n Lemelson Capital’s original short thesis can be found here:<\/p>\n “WWE has affirmed that even with one million subscribers for its WWE network, the company stands to lose between $45 million and $52 million in FY 2014, which validates the original short thesis,” said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management. “This follows what we believe to be material misrepresentations by the company about both the performance and operating profit model of its WWE network, which the company has wrongly labeled ‘a homerun’,” said Lemelson.<\/p>\n Lemelson Capital today also called on WWE’s Board of Directors to promptly replace the company’s executive management team, or explore the sale of the business, and said that such changes are a necessary component of any successful strategy going forward. “For example, promoting the WWE direct network’s value to shareholders without a fair and accurate discussion of the implications to a traditional network revenue circumvented management’s fiduciary responsibility as stewards of investor’s capital, and is part of what has emerged as a pattern over recent years. Further, there are no pending operational developments in the pipeline to offset these significant losses,” Lemelson added.<\/p>\n Lemelson Capital and its clients are long shares of WWE. <\/p>\n","protected":false},"excerpt":{"rendered":" Forbes has reported WWE lost $340 Million since yesterday, WWE to address in Conference Call, Investment Firm demanding New Management or Ownership<\/p>\n","protected":false},"author":5,"featured_media":6296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[47],"tags":[48],"class_list":["post-9644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-wwe"],"acf":[],"_links":{"self":[{"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/posts\/9644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/comments?post=9644"}],"version-history":[{"count":1,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/posts\/9644\/revisions"}],"predecessor-version":[{"id":9645,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/posts\/9644\/revisions\/9645"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/media\/6296"}],"wp:attachment":[{"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/media?parent=9644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/categories?post=9644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crazymax.org\/newsite\/wp-json\/wp\/v2\/tags?post=9644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}