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WWE News: WWE Second Quarter Earnings Report Released, Record Revenue

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World Wrestling Entertainment, Inc.

Consolidated Statements of Cash Flows

(In millions)

(Unaudited)

Six Months Ended
June 30,
2018 2017
OPERATING ACTIVITIES:
Net income $ 24.8 $ 6.0
Adjustments to reconcile net income to net cash
provided by operating activities:
Amortization and impairments of feature film production assets 3.5 5.8
Amortization of television production assets 12.8 10.7
Depreciation and amortization 16.6 16.6
Loss on equity investment 3.0
Services provided in exchange for equity instruments (1.6) (1.4)
Other amortization 3.1 3.2
Stock-based compensation 22.5 12.8
Benefit from deferred income taxes (0.1)
Other non-cash adjustments 2.1 0.4
Cash (used in) provided by changes in operating assets and liabilities:
Accounts receivable (7.2) (2.6)
Inventory (0.3) (1.8)
Prepaid expenses and other assets (5.2) (5.4)
Feature film production assets (0.6) (7.8)
Television production assets (14.4) (7.6)
Accounts payable, accrued expenses and other liabilities 6.4 (9.2)
Deferred income 11.4 (5.9)
Net cash provided by operating activities 76.8 13.8
INVESTING ACTIVITIES:
Purchases of property and equipment and other assets (12.2) (12.5)
Purchases of short-term investments (64.5) (88.7)
Proceeds from sales and maturities of investments 36.1 13.7
Purchase of investment securities (0.1)
Other 1.0
Net cash used in investing activities (39.6) (87.6)
FINANCING ACTIVITIES:
Repayment of debt (2.3) (2.6)
Dividends paid (18.5) (18.3)
Proceeds from borrowings under the credit facilities 1.4
Proceeds from borrowings on convertible notes, net of issuance costs 14.5
Proceeds from issuance of warrants 1.5
Purchase of convertible note hedge (2.6)
Taxes paid related to net settlement upon vesting of equity awards (0.2) (0.1)
Proceeds from issuance of stock 0.9 0.8
Net cash used in financing activities (20.1) (5.4)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 17.1 (79.2)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 137.7 212.0
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 154.8 $ 132.8
NON-CASH INVESTING TRANSACTIONS:
Purchases of property and equipment recorded in accounts payable
and accrued expenses
$ 3.6 $ 2.0
World Wrestling Entertainment, Inc.

Supplemental Information – Reconciliation of Adjusted Net Income

(In millions, except per share data)

(Unaudited)

Three Months Ended June 30,
2018 2017
As
Reported
Loss on Investment Adjusted As
Reported
Film
Impairments
Adjusted
Operating income $ 21.2 $ $ 21.2 $ 10.7 $ 1.1 $ 11.8
Interest expense 4.7 4.7 3.7 3.7
Loss on equity investment (1) 3.0 (3.0)
Investment and other income, net 1.0 1.0 0.8 0.8
Income before taxes 14.5 3.0 17.5 7.8 1.1 8.9
Provision for income taxes (2) 4.5 0.6 5.1 2.7 0.4 3.1
Net income $ 10.0 $ 2.4 $ 12.4 $ 5.1 $ 0.7 $ 5.8
Earnings per share – diluted (3) $ 0.11 $ 0.03 $ 0.14 $ 0.06 $ 0.01 $ 0.07

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 MONDAY - Bandwagon Nerds (entertainment & popular culture)

TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)

WEDNESDAY - The Greg DeMarco Show (wrestling) 

THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)

FRIDAY - DWI Podcast (Drunk Wrestling Intellect)

SATURDAY - The Mindless Wrestling Podcast

SUNDAY - The Front and Center Sports Podcast 

CHAIRSHOT RADIO NETWORK PODCAST SPECIALS

Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)

TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends

Patrick O'Dowd's 5X5

Classic POD is WAR


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News

Chairshot News Report: TNA Impact Results, AEW Speculation For Ricochet & Shane McMahon, Vince McMahon, More!

Your Wrestling News for July 5, 2024, including TNA Impact, Ricochet, Shane McMahon, his daddy Vince, and more!

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WWE Ricochet AEW

Your Wrestling News for July 5, 2024, including TNA Impact, Ricochet, Shane McMahon, his daddy Vince, and more!

Welcome to your daily dose of pro wrestling news–and analysis you can trust! We take all wrestling news with a grain of salt here at The Chairshot, and we hope to steer you in the right direction.

Results: TNA Impact (July 4, 2024)

Here are your results from Thursday night’s edition of TNA Impact (originally taped on June 28 at the 2300 Arena in Philly):

  • Trey Miguel vs. Leon Slater ends in a no-contest after WWE NXT star Charlie Dempsey attacks everyone.
  • Dani Luna battled Jody Threat to a time limit draw in the 10-Minute Challenge. They were granted the customary “5 more minutes” but were attacked by Alisha Edwards & Masha Slamovich. During the match it was revealed that Nic Nemeth had been attacked backstage.
  • Frankie Kazarian defeated Mike Santana by countout to advance to the TNA World Championship Match at Slammiversary.
  • Matt Hardy & Reby Hardy beat Eddie Edwards & Alisha Edwards.
  • Joe Hendry pinned Jake Something to advance to the TNA World Championship Match at Slammiversary.

No surprise that Joe Hendry advanced to the world title match, but Santana-Kazarian could have gone either way. A promo video to end the show implied that Kazarian was the one who took out Nic Nemeth backstage, seemingly creating a story for them within the Slammiversary title match. No shocker that The Hardys won the tag team match, but a great surprise with Charlie Dempsey getting involved in the opener. That TNA/NXT collaboration continues to be a lot of fun.

You can catch Andrew’s Review of the event here.

Ricochet Expected To Sign With AEW

Many outlets are reporting that Ricochet’s expected landing spot remains AEW, with additional reports surfacing that his agent has been working out the details on his behalf.

Personally, I’d rather see him back in WWE. Even after an initial push in AEW, he will be a novelty act much like PAC, so I don’t see the difference. But if he’s going to AEW, here’s hoping that agent does a great job and secures quite the bag for ol’ Ric.

Vince Russo Suggests Shane McMahon As A Front Man For Vince McMahon to Purchase AEW

”We saw this with WCW, it happened before. It (purchasing AEW) could be under the guise of Shane, that’s what I’m saying. Shane is as clean as whistle. Vince could be behind it without anybody knowing it, bro.”

Those are the words of Vince Russo, who on the surface seems to be spouting nonsense. Time will tell if there is something to it all, but I wouldn’t place any wagers on this one. Shane McMahon to AEW would be an entertaining shocker, but that–like many things in AEW–would quickly wear off.

Shawn Michaels Discusses NXT Releases, Referencing Drew Gulak

During the NXT Heatwave media call, Shawn Michaels was asked about the release of Gable Steveson, but also lumped Drew Gulak in his response about main roster viability:

“From my understanding, nothing on anyone’s part other than contracts being up. Certainly, in the place of Drew Gulak. From a company standpoint, there not being anything from a main roster standpoint that they were going to be using him in. In NXT, over the last year and a half to two years, we’ve been trying to get into the process of keeping it fluid. It’s all about getting to the main roster when everything is said and done. In two or three years, if that doesn’t happen, we bring other people in or see if we’re ready to move on.”

If anything, it’s a stark reminder that NXT still exists to, above all else, populate the main roster. It’s quite the delicate balance between booking your own television show and preparing for the future, one that HBK has arguably done better than Triple H himself.

Other Odds & Ends:

  • According to reports, the mini-stroke referenced by Britt Baker (DMD) on AEW Dynamite is legitimate. If so, both she and Adam Cole have been through a ton over the past 24 months.
  • Mason Madden (Mace) and Mansoor, now known as the MxM Collection, showed up in ROH when featured in a vignette on this week’s broadcast. They might not have made it in WWE, but it’s good to see them getting work, and a second chance to make this gimmick their own. YEAH!
  • Cody Rhodes continues to be the ultimate good dude, this time helping a fan who won tickets to Money In The Bank actually attend the event. The fan who won the tickets is in a wheelchair, and there were no more accessible seats left. That was, of course, until Cody got involved. Now the fan can be there and enjoy the show as intended when he won the contest. Cody wins again!

 

About Chairshot Radio Network

Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!

 MONDAY - Bandwagon Nerds (entertainment & popular culture)

TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)

WEDNESDAY - The Greg DeMarco Show (wrestling) 

THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)

FRIDAY - DWI Podcast (Drunk Wrestling Intellect)

SATURDAY - The Mindless Wrestling Podcast

SUNDAY - The Front and Center Sports Podcast 

CHAIRSHOT RADIO NETWORK PODCAST SPECIALS

Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)

TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends

Patrick O'Dowd's 5X5

Classic POD is WAR


Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!

All Shows On Demand


Powered by RedCircle


Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!
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AEW Coverage

Mitchell’s AEW Continental Classic Update! (11/27/23)

What a start to the tournament!

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Did your picks win points?

The AEW Continental Classic is underway, with almost everyone competing. Check in here if you haven’t seen the winners and losers of week 1!

Here are your Gold League standings!

  • Jon Moxley: 1-0, 3 points
  • Swerve Strickland: 1-0, 3 points
  • Jay White: 1-0, 3 points
  • Rush: 0-1, 0 points
  • Mark Briscoe: 0-1, 0 points.
  • Jay Lethal: 0-1, 0 points

 

Here are your Blue League standings!

  • Brody King: 1-0, 3 points
  • Claudio Castagnoli: 1-0, 3 points
  • Daniel Garcia: 0-1, 0 points
  • Eddie Kingston: 0-1, 0 points
  • Bryan Danielson: Yet to Compete
  • Andrade El Idolo: Yet to Compete

 

My Thoughts:

Nothing too crazy, nothing too wild, this tournament only just got started. The only disappointing point is that they could not get Bryan “cleared to compete” Saturday night. Not sure how much of that is shoot given the bad eye, but this was kinda the problem of wanting him in the tournament over tons of other choices. Bryan wants to face Okada for WrestleKingdom 18, how is Bryan supposed to do that at his best if he’s also gonna be in a round robin, doing five top level matches in about as many weeks? And it takes away from Andrade being able to do something. Also a little surprised we didn’t even hear from Andrade on Saturday.

Now as we heard on Saturday, round two’s matches are set. Gold League will see Mark Briscoe VS Rush, White VS Swerve, and of course, Moxley VS Lethal. Nice variety there, a couple 0-1 guys facing off, as well as two 1-0 guys, and then 1-0 VS 0-1. No offense to Lethal, but he feels like an 0-2 going up against Moxley. Hard to call the other ones but that’s the fun of it. Meanwhile, Blue League sees Brody VS Claudio in a showdown to be 2-0, then Bryan and Andrade finally jump in, Bryan against Eddie and Andrade against Garcia. Sadly, feels like Eddie and Garcia are going 0-2, no way Tony Khan is booking Bryan and Andrade to lose their first shots.

In fact, that could be half the reason they did wait on those two, that’s almost too good for just a first round opener. But I still would’ve done it, same as NJPW does stuff like that for round robins, which this is all modeled after anyway.

About Chairshot Radio Network

Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!

 MONDAY - Bandwagon Nerds (entertainment & popular culture)

TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)

WEDNESDAY - The Greg DeMarco Show (wrestling) 

THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)

FRIDAY - DWI Podcast (Drunk Wrestling Intellect)

SATURDAY - The Mindless Wrestling Podcast

SUNDAY - The Front and Center Sports Podcast 

CHAIRSHOT RADIO NETWORK PODCAST SPECIALS

Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)

TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends

Patrick O'Dowd's 5X5

Classic POD is WAR


Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!

All Shows On Demand


Powered by RedCircle


Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!
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