Why World Wrestling Entertainment (WWE) Is Down Today

NEW YORK (TheStreet) --World Wrestling Entertainment (WWE) was falling 1.6% to $11.09 Monday following statements that launching the WWE Network hurt TV rights negotiations.

In a conference call with analysts WWE said its new deal with NBCUniversal  (CMCSA) is a "good deal," but is not what the company wanted. Chairman and CEO Vince McMahon said he was "disappointed" with the deal according to The Fly on the Wall.

During the call WWE admitted that launching the WWE Network when it did hurt those TV negotiations. The company noted, however, that a delay would have forced it to wait another full year before the network could launch. The company currently expects to have between 2.5 million and 3.5 million subscribers to the WWE Network in 2015.

WWE said it estimates TV deals in the U.S., U.K., Thailand, and India to reach about $200 million annually, a $90 million increase from previous contracts.

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TheStreet Ratings team rates WORLD WRESTLING ENTMT INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate WORLD WRESTLING ENTMT INC (WWE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."

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