World Wrestling Entertainment Inc. is flexing its muscles overseas, looking to fight off a challenge from an increasingly popular combat sport known as mixed martial arts.
The Stamford, Conn., wrestling entertainment and media company is expanding operations around the world, adding businesses in London, Shanghai, Sydney and Sao Paulo, Brazil. The company also aims to discover emerging markets, improve its Web site and wireless business and increase sales of pay-per-view events amid growing competition from mixed martial arts.
Such diversification has reinvigorated the firm's stock (WWE), making it attractive to Wall Street after a murder-suicide involving popular wrestler Chris Benoit and the suspension of several performers for drug violations sent shares down 17 percent in a five-month period. Shares have rebounded almost 17 percent from their August 52-week low of $13.49...More?
source: chicagotribune.com
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