Vince McMahon no longer a billionaire

[$LakerGold]

http://btcwrestlingnews.blogspot.com/2014/05/vince-mcmahon-no-longer-in-billionaire.html

[BurningHammer]

Vince is a risk-taker. He took a huge risk to transform a regional wrestling company into global and won. He took a risk to run the Attitude Era when its rating at the all-time low against WCW and won.

Now he takes another risk to run WWE Network. This is the part where he takes damages.

[Patrick Chewing]

Get rid of PG programming and put more emphasis on storylines and see how many viewers come back.

[Im so nba'd out]

He just became a billionaire too crazy.sure he will make it back there :cheers:

[9erempiree]

He definitely took a risk with the WWE Network. He was making projections based on social media. He felt with millions and millions of fans out there, that all these followers were going to follow by subscribing to the network. So far it hasn't payed out yet.

Time will tell if this is a success or not but investors are definitely panicking and expected higher numbers.

[Im so nba'd out]

- Investment firm Lemelson Capital announced today that they have taken a major stake in WWE shares and have called on WWE's Board of Directors to replace the current executive management team. Below is their press release:

Lemelson Capital Announces Stake In World Wrestling Entertainment And Calls On Board To Pursue New Management Or Ownership

Marlborough, MA, May 16, 2014 -- Lemelson Capital, LLC, a private investment management firm, today announced that they had taken a stake in shares of World Wrestling Entertainment (WWE) and called on the Board of Directors to replace the executive management team of the company following a period of consistent losses, execution issues and material misstatements.

Despite the stock's roughly 63% correction since Lemelson Capital's original short call less than two months ago (from $30.37 on March 17 to $11.33 as of publication of this release), the firm today also reiterated that fair value of WWE's common stock is between $8.25 and $11.88.

Lemelson Capital's original short thesis can be found here:

"WWE has affirmed that even with one million subscribers for its WWE network, the company stands to lose between $45 million and $52 million in FY 2014, which validates the original short thesis," said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management. "This follows what we believe to be material misrepresentations by the company about both the performance and operating profit model of its WWE network, which the company has wrongly labeled 'a homerun'," said Lemelson.

Lemelson Capital today also called on WWE's Board of Directors to promptly replace the company's executive management team, or explore the sale of the business, and said that such changes are a necessary component of any successful strategy going forward. "For example, promoting the WWE direct network's value to shareholders without a fair and accurate discussion of the implications to a traditional network revenue circumvented management's fiduciary responsibility as stewards of investor's capital, and is part of what has emerged as a pattern over recent years. Further, there are no pending operational developments in the pipeline to offset these significant losses," Lemelson added.

Lemelson Capital and its clients are long shares of WWE.
Read more at http://www.lordsofpain.net/news/wwe/...1ojAORYrRar.99

[CeilingFan#1]

He just became a billionaire too crazy.sure he will make it back there :cheers:

That is less crazy if he just became one. It I just broke $100,000 for the first time, it is possible my money waivers up and down above around that number for a while. If he had consistently been a billionaire for a decade plus and it has dropped to his lower amount in a long long time, that is more crazy.

[16X]

I wasn't aware that he ever was a billionaire, or even close to it. He was a kayfabe billionaire on tv, but everything I ever remember hearing from other wrestling fans when I was really into it, was that he wasn't anywhere close.

[Loneshot]

Isn't it normal to lose before you begin to gain? Opera lost a ton on her network as well but i've heard its turning around. The WWE Network is an excellent idea that i thought the smaller wrestling promotions should have been hipped to back in 05.

I tried the Network for a week and despite the library (which seemed to be lacking as there was a bunch of wCw stuff i couldn't find) and the big turn off was that i couldn't watch live RAW on it. I don't have cable and i don't want it.