Benzinga posted an article in advance of WWE’s 2014 third quarter financial earnings announcement, and the article contains some interesting quotes from Lemelson Capital Management Chief Investment Officer Emmanuel Lemelson.
As we previously reported, Lemelson Capital shorted the stock last March before acquiring a new stake in company in April. Lemelson criticized WWE’s poor fiscal management, but praised the company’s creative management.
“The fact is you could give $1 billion to just about any management team in the world and they would have a very hard time recreating the WWE franchise — even given nearly limitless time — in terms of its extraordinary brand strength and customer loyalty,” Lemelson said.
Lemelson added he doesn’t think WWE will reach its 1 million WWE Network subscriber goal in 2014, and judging by the 731,000 number announced today it does indeed seem very unlikely WWE will get to 1 million subscribers this year. Lemelson, however, doesn’t think it matters if WWE hits the goal or not as he believes “the McMahon family is interested in selling the business, thus providing shares protection from further downside.”
Nick was born and raised in Detroit, Michigan, and lived there until the age of 18, when he decided to pack his flack jacket and move to New York City.
