WWE Studios will expand to the television and digital markets, according to Deadline.com. WWE Studios President Michael Luisi issued the following comment: “Our new expanded focus on television and digital continues to push WWE Studios as a multi-platform production company, with the ability to create original content for global distribution as we have successfully done for the big screen. We look forward to identifying key partners to work alongside us while creating opportunities to use our on-screen WWE talent in new and exciting ways.”
Vince McMahon also issued a statement: “Given the size of our fan base and their appetite for WWE programming well beyond our core in-ring shows, this is the ideal time to further establish the WWE brand with new genres across platforms. WWE Studios is open for business with this new TV and digital initiative.” Read more at Deadline.com.
Powell’s POV: WWE stock opened the day at $28 and is at the same point as of this update. In other words, the news hasn’t moved the needle in either direction.