Vince McMahon and George Barrios will be holding a WWE conference call this Monday (5/19) at 11:00 a.m. Eastern (10:00 CT) at corporate.wwe.com. The comes just one day after the WWE stock dropped nearly 50% after the new rights fees deal with NBC Universal was announced, news that analysts called “disappointing” when made public.
Lemelson Capital also announced on Friday a new stake in WWE and called on the board to pursue new management or ownership.
“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.'”