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June 10, 2011
Update on Shane McMahon's Company: YOU on Demand
Fidelity Just Bought a Huge Stake in This Chinese Penny Stock and Maybe "YOU" Should Too
At StreetInsider.com we rarely write about penny stocks, let alone ones that operate in China. However today one "penny" and "China" stock grabbed our attention after mutual fund-giant Fidelity, in a 13G filing with the SEC, disclosed a massive new stake.
The company in question is YOU On Demand Holdings, Inc. (OTCBB: CBBD), which dubs itself "the first national Pay-Per-View and Video On Demand platform in China."
Fidelity's FIL Investment Management (Hong Kong) Limited bought 73,440,972 shares at $0.09 per share in a recent private placement. The position puts Fidelity’s stake at 11.11% of the shares outstanding, or 9.4% including dilution from the offering.
Commenting on the investment earlier this week, YOU On Demand CEO Shane McMahon said, "Fidelity's interest and involvement in YOU On Demand is a testament to the strength of our business and growth plan."
As part of the investment, Fidelity made the company sign a securities purchase agreement which limits the company from selling additional common stock for the next six months. In addition, Fidelity is requiring the company file an application to be listed on any of the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or other national securities exchange acceptable to Fidelity. Fidelity also made CEO McMahon and senior executive Weicheng Liu sign lock-up agreements which will ban them from selling or transfering shares for one year.
The funds raised in the offering will allow the company to execute a previously proposed strategy. YOU On Demand said it has secured strategic partnerships with the largest media entities in China.
YOU On Demand is not without risk however: the company had just $1.7 million in revenue in the three months ended March 31, 2011 and reported a loss of $2.72 million during that time. The stock was also brought to the market through a reverse merger, a type of investment the SEC just warned about yesterday.
While risks are glaring, a first-mover advantage in the Chinese pay-per-view market could make YOU On Demand a stock to watch for years to come.
Press Release: YOU On Demand Raises $10.9 Million in Private Placement
WWE Stock Hits One Year Low
One day after setting an annual low for stock, WWE bottomed out further Friday with a new 52-week low.
Shares of WWE stock traded at $9.33 per share on Friday morning to set the new low point. The closing price inched up to $9.39 per share.
WWE set a new 52-week low on Thursday with the overall stock market on the rise, breaking a six-day losing streak. The stock market resumed its slump on Friday, closing the week on a downward trend.
Comparatively, WWE’s stock price was down 2.5 percent on Friday vs. 1.4 percent for the Dow Jones industrial average and 1.5 percent for the Nasdaq market.
source: wrestlingnewssource.com
E3 2011: Alberto Del Rio talks 'WWE 12'
Unbelievable that for so many years, Del Rio actually hid his face in favor of a wrestling mask, but as the superstar explains, it was all about tradition.
"When you wrestle in Mexico, the mask is everything," Del Rio tells me as talk behind the scenes of E3, backstage at THQ's swank booth. "The most important match in Mexican culture, in Mexican wrestling is Mask vs. Mask. That's the reason I wore the mask for years, and of course, because of my father and grandfather. But at this moment, I feel totally comfortable without my mask and with Alberto Del Rio.
"When I came to WWE, they told they wanted to use me without the mask, but I didn't care because I just wanted to work. They told me all of their ideas about Alberto Del Rio, and I loved the character right from the beginning. I was a baby face my entire life, but I'm a heel here in the States and I'm loving it. I don't want to be a baby face ever again. The bad guy is the one who controls the match. The bad guy is the one who makes the crowd cry, laugh, scream, whatever. It's fun."...More?
source: espn.go.com
Why John Cena Gets Booed
For the longest time, World Wrestling Entertainment has been trying to do everything in their power to get the majority of fans to cheer John Cena. They've tried giving tweaks to his on-screen persona, they've tried pointing out he's active in charitable campaigns (such as the Make A Wish foundation), they've had him routinely expressing support for the U.S. armed forces, and Cena has made an effort to improve his wrestling repertoire.
Yet, all of these efforts have ended in failure and I believe the reason is because WWE has failed to examine the basic reason that he's getting booed.
To understand the reason for the booing can really be traced back to who the WWE has modeled John Cena's onscreen persona after...More?
source: slam wrestling
New Promotion to Debut at TNA Studio in Orlando; Subsidiary of TNA
All Wheels Wrestling debuts June 29th at Universal Studios
This made for television event will appeal to both wrestling fans and motorsports enthusiasts alike. Come witness the high flying moves of some of the greatest pro wrestlers in the world as they battle it out in the ring in front of a live audience.
Doors open at 6:30PM. Taping begins at 7:00PM. Taping held at Universal Studios' Soundstage 21. This is a non-ticketed event and seating is based on a first come first served basis. It is recommended to arrive one hour prior to doors open. Video cameras and audio recording equipment is not allowed. Show may cancel and schedules and/or audience requirements may alter at any time.
PWInsider.com is reporting that a web domain for "All Wheels Wrestling" is owned by subsidiaries of TNA, leading many to believe that "All Wheels Wrestling" is an offshoot being launched by the promotion. A taping for the venture will take place on Wednesday, June 29, at Universal Studios, where TNA Impact Wrestling is taped.
Independent Wrestler Suffers Heart Attack in Ring, Passes Away
Authorities say a professional wrestler has died after he collapsed before a match at the Northwest Arkansas District Fairgrounds in Harrison.
The Harrison Daily Times reported Wednesday that 39-year-old Robert Dale Phipps of Harrison collapsed without warning Saturday as he waited in the ring for his opponent to enter. Doctors said he suffered a massive heart attack.
Phipps was taken to a Harrison hospital, and then put in a helicopter to be flown to a hospital at Springfield, Mo. He suffered another seizure while in the air and the helicopter made an emergency landing at Skaggs Hospital in Branson, Mo., where doctors say he died Monday. A funeral is scheduled Friday at Holt Memorial Chapel in Harrison.
Phipps wrestled under the stage name of "Real Deal" Adrian Steel for the Mid-States Wrestling promotion.
source: associated press
This Day in Wrestling History
Harley Race defeated Ric Flair for the NWA Heavyweight Wrestling title.
June 10, 1983
In a very eventful and chaotic press conference at Titan Towers, the WWF(E) signs Brian Pillman.
June 10, 1996
June 9, 2011
WWE Hall of Famer Jerry Lawler to Appear at Bowie Baysox Game; Trivia Contest to Win Tickets
WWE Hall of Famer Jerry "The King" Lawler will appear at the Bowie Baysox minor league baseball game next Thursday night. He will throw out the ceremonial first pitch and also sign autographs and take photos with fans.
Kevin Eck of Ring Posts is running a trivia contest to win tickets. He will ask three Lawler-related trivia questions over the next three days (beginning later today), and each winner will receive two lower reserved tickets to the 7:05 p.m. game against the Reading Phillies at Prince George's Stadium in Bowie, Md.
For more information, go to baysox.com.
