STAMFORD, Conn., Nov 05, 2009 (BUSINESS WIRE) -- World Wrestling Entertainment, Inc. (NYSE:WWE) today issued a revised business outlook, targeting average annual earnings growth between 15% to 20% over the 2009 through 2012 period.1 The revised outlook is based on a comprehensive review of the Company's operations.
Vince McMahon, Chairman and Chief Executive Officer, said, "We believe we can achieve meaningful growth by strengthening our global expansion and television distribution, leveraging our new partnership with Mattel and continuing to improve operating efficiency. Through disciplined cost management, we expect our operating leverage to deliver outstanding earnings growth with even moderate increases in revenue."
George Barrios, Chief Financial Officer, added, "WWE's projected earnings growth reflects our focus on producing superior economic returns on the capital invested in our business and thereby creating value for our shareholders."
Additional information on World Wrestling Entertainment, Inc. (NYSE:WWE) can be found at wwe.com and corporate.wwe.com. For information on our global activities, go to http://www.wwe.com/worldwide/.
Notes:
1The outlook above does not include the impact of any future merger or unplanned restructuring charges, the impact from sales and acquisitions of operating assets and investments, or the impact of taxes on the above items, that may occur from time to time due to management decisions and changing business circumstances. The Company is currently unable to forecast precisely the timing and/or magnitude of any such amounts or events.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, copyrights and logos are the exclusive property of World Wrestling Entertainment, Inc. and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This news release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live events, broadcast television, cable television, pay-per-view, Internet, entertainment, professional sports, and licensed merchandise; acceptance of the Company's brands, media and merchandise within those markets; uncertainties relating to litigation; risks associated with producing live events both domestically and internationally; uncertainties associated with international markets; risks relating to maintaining and renewing key agreements, including television distribution agreements; and other risks and factors set forth from time to time in Company filings with the Securities and Exchange Commission. Actual results could differ materially from those currently expected or anticipated. In addition to these risks and uncertainties, our dividend is based on a number of factors, including our liquidity and historical and projected cash flow, strategic plan, our financial results and condition, contractual and legal restrictions on the payment of dividends and such other factors as our board of directors may consider relevant.
SOURCE: World Wrestling Entertainment, Inc.
World Wrestling Entertainment, Inc.Investors:Michael Weitz, 203-352-8642Media:Robert Zimmerman, 203-359-5131
AdBrite
AdBrite
Thursday, November 5, 2009
Disney, Reaches Another Major Milestone on Shanghai Theme Park Project
BURBANK, Calif., Nov 03, 2009 (BUSINESS WIRE) -- The Walt Disney Company today announced that the Project Application Report (PAR) for a Disney theme park in the Pudong district of Shanghai has received approval from the relevant authorities of the central government of China.
"China is one of the most dynamic, exciting and important countries in the world, and this approval marks a very significant milestone for The Walt Disney Company in mainland China," said Robert A. Iger, president and CEO of The Walt Disney Company.
The PAR approval will enable Disney and its Shanghai partners to move forward toward a final agreement to build and operate the park and begin preliminary development work. Upon completion of the final agreement, the project's initial phase would include a Magic Kingdom-style theme park with characteristics tailored to the Shanghai region and other amenities consistent with Disney's destination resorts worldwide.
About The Walt Disney Company China
The Walt Disney Company (DIS), together with its subsidiaries and affiliates, is a diversified international family entertainment enterprise with five business segments and is a Dow 30 company with revenues of nearly $38 billion in its most recently reported fiscal year. Our first animation screened in China in the 1930s and today our long association continues with offices in Beijing, Shanghai and Guangzhou with over 600 employees.
About Walt Disney Parks and Resorts
Walt Disney Parks and Resorts are where families experience and enjoy the magic of Disney's beloved characters and where dreams come true. More than 50 years ago, Walt Disney created a new kind of entertainment families could experience together, immersed in detailed atmospheres and vibrant storytelling. His vision now includes a collection of five of the world's leading family vacation destinations -- Disneyland Resort, Anaheim, Calif.; Walt Disney World Resort, Lake Buena Vista, Fla.; Tokyo Disney Resort, Urayasu, Chiba, Japan; Disneyland Paris, Marne-la-Vallee, France; and Hong Kong Disneyland Resort, located on Lantau Island. In addition, Walt Disney Parks and Resorts includes the world-class Disney Cruise Line; Disney Vacation Club, with 10 resorts and more than 400,000 members; Adventures by Disney, a guided group vacation experience to some of the world's most popular destinations; and Walt Disney Imagineering, which creates and designs all Disney parks, resorts and attractions.
from the wire
"China is one of the most dynamic, exciting and important countries in the world, and this approval marks a very significant milestone for The Walt Disney Company in mainland China," said Robert A. Iger, president and CEO of The Walt Disney Company.
The PAR approval will enable Disney and its Shanghai partners to move forward toward a final agreement to build and operate the park and begin preliminary development work. Upon completion of the final agreement, the project's initial phase would include a Magic Kingdom-style theme park with characteristics tailored to the Shanghai region and other amenities consistent with Disney's destination resorts worldwide.
About The Walt Disney Company China
The Walt Disney Company (DIS), together with its subsidiaries and affiliates, is a diversified international family entertainment enterprise with five business segments and is a Dow 30 company with revenues of nearly $38 billion in its most recently reported fiscal year. Our first animation screened in China in the 1930s and today our long association continues with offices in Beijing, Shanghai and Guangzhou with over 600 employees.
About Walt Disney Parks and Resorts
Walt Disney Parks and Resorts are where families experience and enjoy the magic of Disney's beloved characters and where dreams come true. More than 50 years ago, Walt Disney created a new kind of entertainment families could experience together, immersed in detailed atmospheres and vibrant storytelling. His vision now includes a collection of five of the world's leading family vacation destinations -- Disneyland Resort, Anaheim, Calif.; Walt Disney World Resort, Lake Buena Vista, Fla.; Tokyo Disney Resort, Urayasu, Chiba, Japan; Disneyland Paris, Marne-la-Vallee, France; and Hong Kong Disneyland Resort, located on Lantau Island. In addition, Walt Disney Parks and Resorts includes the world-class Disney Cruise Line; Disney Vacation Club, with 10 resorts and more than 400,000 members; Adventures by Disney, a guided group vacation experience to some of the world's most popular destinations; and Walt Disney Imagineering, which creates and designs all Disney parks, resorts and attractions.
from the wire
Subscribe to:
Posts (Atom)