Is World Wrestling Entertainment Recession Proof?

Last week, World Wrestling Entertainment (WWE) announced earnings for its fourth quarter 2007, beating analysts’ estimates by $17.6 million and sending the stock up 10% in intraday trading. Since hitting a 52 week low of $13.35 last year, the stock has vacillated between $14 and $16 a share with no momentum in either direction. With a recession looming and consumer spending slowing, it is interesting to note that the source of WWE’s recent growth was in consumer products and domestic live events. If we are in a period where discretionary spending is being cut, how could WWE have achieved such growth domestically in the last quarter?...More?

source: seekingalpha.com