Former WWE Intercontinental Champion The Honky Tonk Man posted the following Tweet on Monday: "Anyone who missed HTM's announcement on TNA tonight. Karen Angle vs Dixie Carter's husband is the sexual harassment lawsuit going down! That's why Dixie is off TV and Karen is now back with the company as part of the settlement."
His Tweet was in reference to statements he made during his weekly podcast this past Monday night where he claimed that Karen Jarrett is the victim of a sexual harassment lawsuit which she filed against TNA Wrestling.
According to Honky Tonk Man, Jarrett was sexually harassed by TNA President Dixie Carter's husband Serge Salinas, and part of the lawsuit settlement was that Jarrett be given her TNA job back, which is why she rejoined the company and returned to TV. Furthermore, HTM claimed that Dixie Carter was taken off TNA TV earlier this year due to the lawsuit. You can check out HTM's podcast if you click here.
source: wrestlezone.com
April 29, 2011
Karen Jarrett Allegedly a Victim of Sexual Harassment in TNA
This Day in Wrestling History
Steve Austin & Triple H defeated Undertaker & Kane to win the WWF(E) Tag Team Titles.
April 29, 2001
Former AWA, Portland Wrestling, and WWF(E) star Playboy Buddy Rose (Paul Perschmann) died.
April 29, 2009
April 28, 2011
Triple H to Make an Appearance at World Academy in Nashua, NH
World Academy, the school that Paul Levesque's sister Lynn Ouellette is a director at, issued the following press release:
STREETER AND LEVESQUE PARTNER to BENEFIT GBO AND WORLD ACADEMY
World Academy, formerly known as The World Schools, in conjunction with The Gordon B. Ouellette Memorial Fund, will host the first annual GBO Memorial Fund Spring Gala on Friday, May 6th 2011 from 7pm to 11pm at the Nashua Radisson’s Ashwood Court off Spit Brook Road in South Nashua. The GBO Fund exists, in loving memory of the late Gordon Ouellette of Nashua, to ensure that access to the exceptional educational experience offered at World Academy is available to all students and families who improve the quality of the community at World Academy, regardless of financial circumstances.
The evening is planned as a fun and festive celebration, with light appetizers, music and dancing, and will mark the first-ever live culmination to the school’s annual Silent Auction. Nashua’s own Bernie Streeter and NH native Paul Levesque of the WWE will be in attendance as Auctioneers, providing what World Academy’s Marketing Manager Jenny Smith envisions as a fun and entertaining finale to the fundraising effort...More?
WWE Announces Revised Dividend Policy
WWE today announced a revised dividend policy to enhance the Company’s financial flexibility and support the “New WWE” initiative. Beginning in June of 2011, the Company’s quarterly dividend will be adjusted to $0.12 per share of common stock held by the Company’s Class A public shareholders. Members of the McMahon family will also receive dividends in the revised per share amount and, as a result, all Class A and Class B shares will receive dividends in the amount of $0.12 per share.
“Our Board of Directors has determined that an adjustment to the current dividend is both prudent and appropriate,” stated Vince McMahon, Chairman and Chief Executive Officer. “We believe this change strikes the right balance between returning capital to shareholders and investing in our future. We are confident that WWE is ideally positioned to create long term value for our shareholders.”
“The Company’s revised quarterly dividend was set based on targeted ranges for payout ratios and liquidity levels,” stated George Barrios, Chief Financial Officer. “Aligning payouts with our current level of earnings and cash flow will significantly enhance our financial flexibility, support our current growth initiatives, and enable us to take advantage of important strategic opportunities in a quickly changing media landscape, including executing on our ‘New WWE’ initiative.”
WWE’s management and Board remain committed to delivering value for the Company’s shareholders, and the revised dividend will continue to return significant cash to its investors. The revised quarterly payout of $0.12 per share provides a yield of 4.2% based on the April 28 stock price, representing an approximate 130% premium to the S&P 500. Further, the Board will continue to review the Company’s dividend policy on an ongoing basis, including the appropriateness of one-time returns of capital.
Details on WWE Cable Network
The planned WWE cable network is going to be a big part of the company re-branding that is going on. The idea is that they are doing their own network and don't want it seen as a pro wrestling TV channel.
WWE is looking to air scripted programming and other programming that they can use their marketing concepts with. This would include marketing the characters and even touring with the new shows. The Harlem Globetrotters would be a perfect fit for this new concept but they aren't doing sports right now. The concept was described as something like High School Musical or Dora the Explorer where you have a program, you merchandise the characters and go on tour.
WWE is also looking at using people like Drew Carey to come up with programming ideas.
The WWE network will feature a lot of wrestling still, with a lot of old footage airing. WWE is currently digitizing some of their footage and trying to upgrade it to HD for the network. The network will also show programs like NXT, Superstars and some of the recap shows that air internationally.
source: wrestling observer newsletter
Media Moguls With Pay Compensation NOT Out-Of-Whack
3. World Wrestling Entertainment: Kevin Dunn. Talk about a smackdown. The company still doesn’t appear to have a distributor for the WWE Network cable channel it’s been talking about launching for more than a year. The company’s stock price declined 7.5%. And Connecticut’s Attorney General, Democrat Richard Blumenthal, defeated former WWE CEO Linda McMahon, the Republican candidate, in their contest to replace Chris Dodd in the U.S. Senate. Dunn, the EVP for Television Production, saw his salary decline 9.8% to $1.8 million ($746,154 salary, $680,400 stock awards, $351,000 cash equity, and $8,000 in other compensation). That's just 1.5 times higher than the average for WWE’s 4 other top executives.
Click here for the full list.
source: deadline.com
More on TNA Re-Branding and Possible Name Change
In a further update to the news that TNA Wrestling was possibly looking to re-brand their company in some form, it has been announced that the company has filed a trademark on the term "Impact Wrestling".
The wrestling news site Impactwrestling.com had their domain name acquired by TNA Wresting. Impactwrestling.com is now AllWrestling.com.
partial source: wrestlingnewssource.com
This Day in Wrestling History
Owen Hart defeated Rocky Maivia(The Rock) for the WWF(E) Intercontinental title.
April 28, 1997
Wrestling legend, Lou Thesz, passes away at the age of 86.
April 28, 2002
April 27, 2011
World Wrestling Grapples With Competitive Threat
WWEs Unsustainable Dividends
Boasting a ravishing 12% yield, WWE's Class A dividend may be cut as early as the Q1 report on May 5. WWE earned 71 cents per share for all of 2010, while paying out a 36 cent dividend per quarter. Unless profit grows or the controlling McMahon family waives their Class B shares, the dividend must be cut and the shares will tumble further.
Several operational factors are making WWE an unattractive accidental high yielder. In fourth quarter of 2011, operating income declined by 22% and earnings fell as live event attendance dropped 15% in North America. Like WWE, Live Nation Entertainment (NYSE:LYV) is another company that depends on gate revenues, which experienced a difficult 2010. That might mean it was simply a down year for most companies that host live events. Unfortunately, a business that is closely related to WWE battled its way to a great year - and that doesn't speak well for WWE.
UFC Slams Wrestling
WWE dominates a very niche segment of the entertainment market, but professional wrestling is grappling with privately held Ultimate Fighting Championship's growing shadow. Some argue that the two companies don't compete with each other; that one is sports (UFC) and the other is sports entertainment (WWE). This is not true. Fans are clearly crossing over from the WWE's ring to the UFC's octagon
Here We Go Again
In addition to competitive pressures from the UFC, investors need to be concerned about WWE's intentions to diversify away from the ring. On April 7, World Wrestling Entertainment officially rebranded itself as "WWE." The new company will be a diversified entertainment company, featuring a TV network with scripted and reality shows, and animated programs, along with wrestling events. The concern for investors is that WWE has a dubious history of businesses outside core wrestling operations. The failed XFL football league and wrestling-themed restaurant in New York City do not portend well for WWE's latest attempt at reincarnation.
The Bottom Line
The impact of WWE's rebranding won't be fully realized until the details of a potential TV deal are released. In the meantime, investors should prepare themselves right away for a shock when the dividend gets slammed...More?
source: investopedia.com
