{"id":70590,"date":"2020-03-12T20:06:07","date_gmt":"2020-03-13T01:06:07","guid":{"rendered":"https:\/\/prowrestling.net\/site\/?p=70590"},"modified":"2020-03-12T20:06:07","modified_gmt":"2020-03-13T01:06:07","slug":"wwe-issues-a-statement-on-the-potential-impact-of-the-coronavirus-on-company-business","status":"publish","type":"post","link":"https:\/\/prowrestling.net\/site\/2020\/03\/12\/wwe-issues-a-statement-on-the-potential-impact-of-the-coronavirus-on-company-business\/","title":{"rendered":"WWE issues a statement on the potential impact of the coronavirus on company business"},"content":{"rendered":"<div id=\"prowr-603069571\" class=\"prowr-apple-podcast-button-link prowr-entity-placement\" style=\"margin-left: auto;margin-right: auto;text-align: center;\"><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/pro-wrestling-boom-podcast\/id1365989370\" aria-label=\"SUBSCRIBE IN APPLE PODCASTS\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?fit=320%2C78&#038;ssl=1\" alt=\"SUBSCRIBE IN APPLE PODCASTS\"  srcset=\"https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?w=320&ssl=1 320w, https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?resize=300%2C73&ssl=1 300w\" sizes=\"(max-width: 320px) 100vw, 320px\" width=\"320\" height=\"78\"   \/><\/a><\/div><p><b>By Jason Powell<\/b>, ProWrestling.net Editor (<a href=\"https:\/\/twitter.com\/prowrestlingnet\" target=\"_blank\" rel=\"noopener noreferrer\">@prowrestlingnet<\/a>)<\/p>\n<p><i>WWE issued the following press release on Thursday regarding the potential impact of the coronavirus on the company&#8217;s financial performance.<\/i><\/p>\n<p>STAMFORD, Conn.&#8211;(BUSINESS WIRE)&#8211; WWE (NYSE: WWE) today communicated perspective regarding the potential impact of COVID-19 on the Company\u2019s financial performance.<\/p>\n<p>WWE has substantial financial resources, both available cash and debt capacity, which currently total more than $0.5 billion, to manage the challenges ahead. The fundamentals of the Company\u2019s business remain strong reflecting the passion of WWE\u2019s fans and the quality of its content. Management continues to believe the Company is well positioned to take full advantage of the changing media landscape and increasing value of live sports rights over the longer term.<\/p>\n<p>The health and safety of WWE\u2019s fans, performers and employees are the Company\u2019s top priorities and management is monitoring the situation closely domestically and internationally.<\/p>\n<p>The potential impact of COVID-19, and corresponding changes in the way WWE operates, may adversely impact the Company\u2019s business including, but not limited to, its live event ticket sales and the sale of merchandise at those events. It should be noted that the Company may be directed to cancel, postpone or relocate certain upcoming events and the number of these changes is unknown at this time. The Company is currently unable to quantify the potential financial impact of COVID-19, but the financial impact to the Company may be material. Accordingly, the Company is withdrawing its previously announced first quarter and full year 2020 guidance due to the increased uncertainty of the financial impact of COVID-19 to the Company.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Powell&#8217;s POV:<\/strong><\/span> This was a necessary step by the company to address the potential impact that the pandemic could have on its business. WWE has already had live events and television dates cancelled and more are sure to come.<\/p>\n<div id=\"prowr-1175456086\" class=\"prowr-after-content prowr-entity-placement\"><a class=\"spreaker-player\" href=\"https:\/\/www.spreaker.com\/show\/pwboom\" data-resource=\"show_id=3275525\" data-theme=\"light\" data-playlist=\"show\" data-width=\"100%\" data-height=\"340px\">Listen to \"Pro Wrestling Boom Podcast\" on Spreaker.<\/a><script async src=\"https:\/\/widget.spreaker.com\/widgets.js\"><\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>By Jason Powell, ProWrestling.net Editor&#8230;<\/p>\n","protected":false},"author":5,"featured_media":57,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,4],"tags":[128,101],"class_list":["post-70590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsticker","category-wwe_news","tag-pro-wrestling","tag-wwe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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