WWE has announced an emergency conference call this Monday to address its investors and discuss the company's 2014/2015 direction.
WWE® to Host Business Outlook Conference Call
STAMFORD, Conn., May 16, 2014 (BUSINESS WIRE) — 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.
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.
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.
Lemelson Capital announced this week that they had purchased a stake in World Wrestling Entertainment, and have asked the board of directors to remove "the executive management team" after a "period of consistent losses execution issues and material misstatements." Among Lemelson's issues, they have a problem with the way WWE has been explaining and promoting the Network to investors, and that the company stands to lose between $45 million and $52 million in 2014.
The conference call should reiterate statements made by Vince McMahon in the past, and confirmed by several others sources, that essential reinforce the stance that WWE is aware of the net loss for 2014, and that the cost of launching the WWE Network is a long-term plan that will pay for itself in 2015 if a certain number of subscribers is met.