WWE announces stock repurchase program

By Jason Powell, ProWrestling.net Editor (@prowrestlingnet)

WWE issued the following press release on Thursday to announce a stock repurchase program.

WWE (NYSE: WWE) today announced that the Company’s Board of Directors has authorized a stock repurchase program of up to $500 million of the Company’s common stock.

Commenting on this announcement, George Barrios, WWE Co-President, said: “The authorization of a stock repurchase program underscores our commitment to the Company’s shareholders. The decision is supported by WWE’s strong financial performance and demonstrates our confidence in the Company’s future. We believe we can continue to invest for future growth, maintain financial flexibility and return excess capital to shareholders, all of which should keep us on the path toward building long-term value.”

The objectives of WWE’s capital deployment strategy are to maintain a strong balance sheet, provide adequate liquidity for investing in growth opportunities (both organic and through acquisitions), and to return excess capital to shareholders. Management plans to repurchase stock opportunistically, i.e., when the repurchase price is below WWE’s intrinsic value as conservatively estimated by management, and the returns of share repurchases compare favorably to other capital allocation alternatives.

Repurchases may be made at management’s discretion from time to time in accordance with all applicable securities and other laws and regulations. The extent to which WWE repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including liquidity, capital needs of the business, market conditions, regulatory requirements and other corporate considerations. Repurchases under this program may be funded from one or a combination of existing cash balances, free cash flow and available liquidity sources. The repurchase program does not obligate the Company to repurchase any minimum dollar amount or number of shares and may be modified, suspended or discontinued at any time.

Powell’s POV: Barrios will join Vince McMahon and Michelle Wilson in discussing all of today’s WWE financial news in a conference call. I will post live updates on the call beginning at 10CT/11ET.

Check below for the new Pro Wrestling Boom with Jason Powell and his guest Rich Bocchini (f/k/a Rich Brennan) discussing his work with Tony Schiavone in MLW, working for Michael Cole in WWE, his trial by fire in NXT, being produced by Vince McMahon, and much more.




The Pro Wrestling Boom Podcast with Jason Powell features Jake Barnett co-hosting the Boom and Dot Net Weekly combo show. Jason and Jake discuss Becky Lynch announcing her pregnancy, Alberto Del Rio being accused of sexual assault, WWE's IC Title tournament, Mike Tyson appearing at AEW Double Or Nothing, Undertaker's Last Ride documentary, AEW Dynamite and NXT TV thoughts, and more...


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