WWE Addresses Potential Continued Impact Due To COVID-19 Outbreak

WWE Statement Addressing Potential Impact COVID-19 Could Continue To Have On Them

Following the news that this week’s episode of WWE Friday Night SmackDown has been moved from the Little Caesers Arena in Detroit, Michigan to an empty WWE Performance Center in Orlando, Florida, WWE has issued an additional statement addressing the company’s perspective regarding the potential impact of the Coronavirus (COVID-19) Outbreak on the company’s business.

Featured below is the complete statement:

WWE® Statement on Potential Impact of COVID-19

03/12/2020

STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE: WWE) today communicated perspective regarding the potential impact of COVID-19 on the Company’s financial performance.

WWE has substantial financial resources, both available cash and debt capacity, which currently total more than $0.5 billion, to manage the challenges ahead. The fundamentals of the Company’s business remain strong reflecting the passion of WWE’s fans and the quality of its content. Management continues to believe the Company is well positioned to take full advantage of the changing media landscape and increasing value of live sports rights over the longer term.

The health and safety of WWE’s fans, performers and employees are the Company’s top priorities and management is monitoring the situation closely domestically and internationally.

The potential impact of COVID-19, and corresponding changes in the way WWE operates, may adversely impact the Company’s business including, but not limited to, its live event ticket sales and the sale of merchandise at those events. It should be noted that the Company may be directed to cancel, postpone or relocate certain upcoming events and the number of these changes is unknown at this time. The Company is currently unable to quantify the potential financial impact of COVID-19, but the financial impact to the Company may be material. Accordingly, the Company is withdrawing its previously announced first quarter and full year 2020 guidance due to the increased uncertainty of the financial impact of COVID-19 to the Company.

About WWE

WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE’s TV-PG, family-friendly programming can be seen in more than 800 million homes worldwide in 28 languages. WWE Network, the first-ever 24/7 over-the-top premium network that includes all live pay-per-views, scheduled programming and a massive video-on-demand library, is currently available in more than 180 countries. The Company is headquartered in Stamford, Conn., with offices in New York, Los Angeles, London, Mexico City, Mumbai, Shanghai, Singapore, Dubai, Munich and Tokyo.

NOTE: Make sure to continue checking back here at eWrestling.com in the coming days, as we will keep you posted on any-and-all updates and new information regarding the Coronavirus Outbreak and the affect it is having on the pro wrestling industry in particular.

For late-breaking news alerts on social media, check out the official Twitter page of our lead eW reporter, Matt Boone, by following @MattBoone1984.

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