World Wrestling Entertainment

World Wrestling Entertainment Type: Public {NYSE: WWE} Founded: 1952 Founder{s}: Roderick McMahon Toots Mondt: Headquarters: Stamford, Connecticut, U.S. Key people: Vince McMahon {Chairman} Linda McMahon {CEO} Shane McMahon {Executive Vice President of Global Media} Stephanie McMahon-Levesque {Executive Vice President of Talent Relations, Live Events and Creative Writing} Industry : Professional wrestling, sports entertainment Revenue : ▲ $526.46 million {2008} Operating income▲ $70.29 million {2008} Net income: ▼ $45.42 million {2008} Total assets: ▼ $429.41 million {2008} Total equity: ▼ $359.97 million {2008} Employees: 564 {as of February 2009, excluding wrestlers} Website: wwe.com

WWE Corporate Offical web Site

World Wrestling Entertainment, Inc. {WWE} is a publicly-traded, privately-controlled integrated media {focusing in television, Internet, and live events} and sports entertainment company dealing primarily in professional wrestling, with major revenue sources also coming from film, music, product licensing, and direct product sales. Vince McMahon is the majority owner and chairman of the company and his wife Linda McMahon holds the position of Chief Executive Officer {CEO}. Together with their children, Executive Vice President of Global Media, Shane McMahon and Executive Vice President of Talent and Creative Writing, Stephanie McMahon-Levesque, the McMahons hold approximately 70% of WWE's economic interest and 96% of the voting power in the company.The company's global headquarters are located in Stamford, Connecticut with offices in Los Angeles, New York City, London, and Toronto. The company was previously known as Titan Sports before changing to World Wrestling Federation Entertainment, Inc.then becoming World Wrestling Entertainment, Inc.WWE's business focus is on professional wrestling, a simulated sport that consists of wrestling combined with acting and theatre. It is currently the largest professional wrestling promotion in the world and holds an extensive library of videos representing a significant portion of the visual history of professional wrestling. The promotion previously existed as the Capitol Wrestling Corporation, which promoted under the banner of the World Wide Wrestling Federation {WWWF}, and later the World Wrestling Federation {WWF}. WWE promotes under three brands: Raw, SmackDown, and ECW. WWE is also home to three world heavyweight championships: the WWE Championship, the World Heavyweight Championship, and the ECW Championship.

Business advances

On April 29, 1999, the WWF made its return to terrestrial television by launching a special program known as SmackDown! on the fledgling UPN network. The Thursday-night show became a weekly series on August 26, 1999.On the back of the success of the Attitude Era, on October 19, 1999 the WWF's parent company, Titan Sports {by this time renamed World Wrestling Federation Entertainment, Inc.} became a publicly traded company, offering 10 million shares priced at $17 each. WWF announced its desire to diversify, including creating a nightclub in Times Square, producing feature films, and book publishing. In 2000 the WWF, in collaboration with television network NBC, announced the creation of the XFL, a new professional football league that debuted in 2001.

Acquisition of WCW and ECW

The Attitude Era turned the tide of the Monday Night Wars into WWF's favor for good. After Time Warner merged with AOL, Ted Turner's power over WCW was considerably reduced, and the newly merged company decided to get rid of WCW entirely. In March 2001, WWF Entertainment, Inc. acquired World Championship Wrestling, Inc. from AOL Time Warner for a number reported to be around $7 million. With this purchase, WWF was now the largest wrestling promotion in the world, and the only one in North America with mainstream exposure. It remained so until the launch of Total Nonstop Action Wrestling in 2002.The assets of Extreme Championship Wrestling {ECW}, which had folded after filing for bankruptcy protection in April 2001, were purchased by WWE in mid-2003.

Name dispute

In 2000, the World Wide Fund for Nature {WWF}, an environmental organization, sued the World Wrestling Federation. The Law Lords agreed that Titan Sports had violated a 1994 agreement which had limited the permissible use of the WWF initials overseas, particularly in merchandising. Both companies used the initials since March 1979. On May 5, 2002, the company quietly changed all references on its website from "WWF" to "WWE", while switching the URL from WWF.com to WWE.com. The next day, a press release announced the official name change from World Wrestling Federation Entertainment, Inc. to World Wrestling Entertainment, Inc., or WWE, and the change was publicized later that day during a telecast of Monday Night Raw.

WWE Brand extension

WWE superstars performing for the Coalition troops at Camp Victory Main article: WWE Brand Extension

In March 2002, roughly two months before the name change, WWE decided to create two separate rosters, Raw and SmackDown! due to the overabundance of talent left over from the Invasion storyline. This is known as the WWE Brand Extension. In addition to the Brand Extension, WWE holds a Draft Lottery every year.

WWE Changing networks

In late 2005, WWE Raw returned after a five-year stint on TNN {now Spike TV} to its original home USA Network. In 2006, due to contracts with NBC Universal, parent company of USA Network, WWE had the chance to revive its classic Saturday night show Saturday Night's Main Event {SNME} on NBC after a thirteen-year hiatus. WWE had the chance to promote the company on a major national network rather than the lower profile CW or cable channels like USA Network. SNME airs occasionally on NBC as a WWE special series.

WWE Universe

On November 19, 2008, WWE launched their online social network, WWE Universe. It initially appeared in April as WWE Fan Nation. Similar to MySpace, it offers blogs, forums, and other features for WWE fans.{20} On January 9, 2009, WWE announced that it was going to be cutting 10% of its staff across the board as part of an effort to cut $20 million in costs.{21}

WWE Wellness Program

WWE is currently under investigation by the United States House Committee on Oversight and Government Reform regarding their talent wellness policy, after the death of one of their performers, Chris Benoit, possibly being linked to steroid abuse.In August 2007, WWE suspended ten professional wrestlers for violating their Wellness Policy after reports emerged they were all customers of Signature Pharmacy in Orlando, Florida. According to a statement attributed to WWE attorney Jerry McDevitt, an eleventh wrestler was later added to the suspension list.

Expansion beyond wrestling

In addition to licensing wrestling and performers' likenesses to companies such as Acclaim, THQ, and Jakks Pacific to produce video games and action figures, WWE has moved into other areas of interest in order to market their product.

1. WWE Studios:

A subsidiary of WWE created in 2002 to create and develop feature film properties. Formerly known as WWE Films.

2. WWE Niagara Falls:

A retail and entertainment establishment that is located in Niagara Falls, Ontario and owned by WWE

3. The World, formerly known as WWF New York:

A restaurant, night club, and memorabilia shop in New York City

4. WWE Music Group:

A subsidiary that specializes in compilation albums of WWE wrestlers' entrance themes. Also releases titles that have been actually performed by the wrestlers themselves.

5. WWE Home Video:

A subsidiary that specializes in distributing compilation VHS, DVD, and Blu-ray Disc copies of WWE pay-per-view events, compilations of WWE wrestlers' performances, and biographies of WWE performers.

6. WWE Books:

A subsidiary of WWE that serves to publish autobiographies of and fiction based on WWE personalities, behind-the-scenes guides to WWE, illustrated books, calendars, young adult books, and other general nonfiction books.

7. WWE Kids:

A website and comic set aimed at the children's end of the wrestling market, comics are produced bi-monthly launched on April 15, 2008.