WWE releases some bad financial numbers and already starts cleaning out some of the low card deadwood, which included Paul London not-surprisingly. But in other interesting tidbits, Low Ki gets a look from the company while WrestleMania tickets go slower than expected.
Opening Witty Banter
Happy Monday to everyone out there in Internet-land. Another Presidential election is in the books and I must say I am more than pleased with the results. In other news WWE 24/7 continues to bring the awesome thanks to the essential Starrcade countdown and now the entire unedited airing of both Survivor Series ’87 and Starrcade ’92. I would be able to live with out my HBO subscription but I think I’m a lifer now with 24/7.
The News of the Week
The big news coming out of Stamford this week was the release of their third quarter financial reports. This quarter was a bad one for the ‘E, and subsequently cost-cutting measures started almost immediately. I don’t want to get into all the boring numbers and details but here is the nuts-and-bolts from the press release the company released on Thursday:
STAMFORD, Conn. (AP) — Sports entertainment company World Wrestling Entertainment Inc. said Thursday its third-quarter profit slid 37 percent, weighed down by slowing revenue growth.
Net income for the period ended Sept. 30 fell to $5.3 million, or 7 cents per share, compared with $8.4 million, or 12 cents per share, in the prior-year period.
Analysts expected earnings of 9 cents per share, according to a Thomson Reuters survey. Analysts’ estimates typically exclude one-time items.
Revenue edged up 1 percent to $108.8 million from $108.1 million. Analysts expected revenue of $107.9 million.
Consumer product revenue climbed to $26.6 million from $19 million, while revenue from WWE Studios, previously known as WWE Films, slid to $5.6 million from $12.8 million.
Pay-per-view revenue dropped to $16.4 million from $18.8 million, while live event revenue edged up to $20.3 million from $20.1 million.
Chief Executive Linda McMahon said in a statement that the company looks to save at least $20 million next year and has lowered planned capital spending for its Media Center project by $30 million to a range of $65 million to $75 million.
“We remain committed to managing our business in a manner that is consistent with maintaining our dividend and achieving our long-term financial objectives,” McMahon said.
Later that afternoon the company held their conference call with Linda McMahon and CFO George Barrios on the call. The major highlights of the call including blaming the weak quarter on the country’s poor economy and the Olympics. She also acknowledged TNA as competition, but just lumped them in with all other entertainment mediums. Barrios also announced they are committed in cutting $20 million in costs.
Seriously, the Olympics? That’s a new one on the company’s excuse-o-meter. And I’ve read some comments that lumping TNA in with all entertainment mediums is a slap in the face to them, but the truth is that with the economy like it is, WWE needs to look at MMA, NBA, NFL, NHL, major motion pictures, concerts and other wrestling companies as direct entertainment. Today’s consumer dollar only stretches so far.
Overall I don’t get real excited about WWE’s quarterly numbers, because at the end of the day the McMahons’ pockets are still lined. The company isn’t going bankrupt, and they are still a global juggernaut.
Speaking of starting to cut that $20 million in costs, what’s the easiest way to do it? Release the on-screen talent. And in that regard, Super Crazy was released on Wednesday. Although this was a cost-cutting measure, apparently Crazy himself asked for his release on November 1 as he was unhappy with his position in the company. Apparently John Laurinaitis was unhappy with his complaints and asked him “Do you know how many wrestlers in Mexico want to be here?â€
Crazy hasn’t been used in a relevant fashion since he was on SmackDown! back in the summer of ’06. He probably feels he can make more of an earning down in his native Mexico while he’s still got a few good years left in him.
And then November 7, the cost-cutting continued as the company released both Chuck Palumbo and Paul London.
I never understood how out of all those Power Plant grads Chuck Palumbo was the one that has gotten the most mainstream exposure. Palumbo will land back on his feet thanks to Japan or Italy, but I’ve never seen his appeal. He works best in a tag team format where he can come in and do some impressive power moves and the heavy lifting. He hadn’t been used since he was traded to RAW back in June as the company fell out of favor with him after his decent run on SmackDown! earlier this year. He’s already been in contact his old Power Plant chums Marco Corleone (Mark Jindrak) and Johnny the Bull (Rellik…wich is Killer spelled backwards) about getting work in either CMLL or AAA.
As for Paul London, more on him below.
Low Ki was backstage last week at RAW, and even worked a dark match against Primo Colon at the SmackDown! taping. This isn’t Ki’s first dealings with WWE as he was used a few times earlier in the decade as enhancement talent on the weekend b-shows against guys like Crash Holly, Taka Michinoku and Essa Rios. Ki was also there due to Rey Mysterio’s urging, who wants to company to sign him so they can work against each other.
Low Ki would be an interesting pick-up for WWE. They have been more apt to push smaller stars in the past few months, but apparently he has some notorious attitude problems that could hinder his stay. Hey as long as we got one twenty minute pay per view bout with Rey Mysterio to show the company that cruiserweights can draw it would be worth it.
We haven’t heard much on the Gail Kim front in weeks, but apparently she did sign a WWE contract and she was backstage last week at the TV tapings.
Well there, now we can put that question to rest on whether she signed or not.
And in more hiring news, there is talk of bringing Goldust back in full-time for 457th time after the impressive amount of votes he got at Cyber Sunday. Brian Gerwitz wants to bring him back to add even more comedy to RAW, and be useful tool in putting over the young guys. But he is obviously not in fighting shape and would need some conditioning training before coming back full time.
The real question would be, does he get to join the next generation stable with baby brother Cody?
With Mike Adamle’s resignation as RAW’s on-screen general manager, it may be the end to Adamle in general on WWE TV. The company has lost faith in him as an on-screen character after he failed at interviewing, commentating and now as a figurehead. Plus with the company looking to save some money, it might be a wise idea to release Adamle from his high dollar contract.
Can’t say I will really miss Adamle if he goes away. He was funny-bad in his interviewing role and jarringly terrible as a commentator, but I felt he was growing into his role as GM. We are going to miss out on some of unintentionally bad lines however, as who can ever forget “Jamaican me crazy,†“have mercy†or the simple “Hi Dave!â€
The company didn’t receive any real good news regarding first day WrestleMania tickets sales either. Apparently all the $755, $250 and $40 tickets sold out during the Internet pre-sale. But overall the company has found their first-day ticket sales to be disappointing. The show isn’t even close to being a sellout apparently, and all hopes of an instant sellout based on name recognition alone did not come true. Despite that the company did put out a press release anyways touting the success of ticket sales.
So there’s still a chance I can pick up tix if things fall into pieces for me.
This year’s Tribute to the Troops special will only be a one-hour special, but it will be broadcast on NBC on December 20 at 8 pm CST. The show will apparently be taped in Baghdad.
I think it’s pretty cool that this year’s special will actually on the flagship NBC network, but I question the choice to shorten it to one hour as that is one show that benefits from the two-hour running time.
The Great Khali did his first-ever “Make-A-Wish” appearance this past week. A seventeen-year-old kid named Jon Espita requested him, and they met prior to this past week’s SmackDown! tapings.
Hey that’s pretty cool I guess. Meeting The Great Khali isn’t in my top 100 things to do, but in all seriousness I’m sure it was a really great moment for both Khali and Espita.
The company continues to be a DVD producing juggernaut, and their upcoming set will be another celebration of Eddie Guerrero, titled “Viva La Raza – The Legacy of Eddie Guerrero.†It feels like I released this match listing weeks ago, but here it is again as it is the official match listing for the three disc set:
Disc 1:
ECW World Television Championship Match
2 Cold Scorpio vs. Eddie Guerrero
ECW TV April 8, 1995
ECW World Television Championship Match
Eddie Guerrero vs. Dean Malenko
ECW Hostile City Showdown April 15, 1995
Eddie Guerrero vs. Shinjiro Otani
WCW Starrcade December 27, 1995
United States Heavyweight Championship Match
Ric Flair vs. Eddie Guerrero
WCW Hog Wild August 10, 1996
United States Heavyweight Championship Match
Eddie Guerrero vs. Chris Jericho
WCW SuperBrawl February 23, 1997
WCW Cruiserweight Championship Match
Rey Mysterio vs. Eddie Guerrero
WCW Nitro November 10, 1997
WCW Cruiserweight Championship Match
Eddie Guerrero vs. Dean Malenko
WCW Starrcade December 28, 1997
Eddie Guerrero vs. Ultimo Dragon
WCW Slamboree May 17, 1998
Juventud Guerrera vs. Eddie Guerrero
WCW Nitro August 3, 1998
Psychosis vs. Eddie Guerrero
WCW Thunder June 24, 1999
Disc 2:
European Championship Match
Chris Jericho vs. Eddie Guerrero
WWF RAW April 3, 2000
King of the Ring Qualifying Match
Eddie Guerrero vs. Matt Hardy
WWF SmackDown! June 8, 2000
WWE Intercontinental Championship Match
Rob Van Dam vs. Eddie Guerrero
WWF Backlash April 21, 2002
WWE Intercontinental Championship Match
Eddie Guerrero vs. Jeff Hardy
WWE RAW April 29, 2002
No Disqualification Match
Edge vs. Eddie Guerrero
WWE SmackDown! September 26, 2002
WWE Tag Team Championship Match
Team Angle vs. Los Guerreros
WWE Backlash April 27, 2003
Latino Heat Parking Lot Brawl
John Cena vs. Eddie Guerrero
WWE SmackDown! September 11, 2003
Eddie Guerrero vs. Chavo Guerrero
WWE Royal Rumble January 25, 2004
WWE Championship Match
Brock Lesnar vs. Eddie Guerrero
WWE No Way Out February 15, 2004
Disc 3:
WWE Championship Match
Eddie Guerrero vs. Rey Mysterio
WWE SmackDown! March 18, 2004
WWE Championship Match
Eddie Guerrero vs. John “Bradshaw” Layfield
WWE Judgment Day – May 16, 2004
Steel Cage Match for the WWE Championship
JBL vs. Eddie Guerrero
WWE SmackDown! July 15, 2004
WWE Championship Series
Eddie Guerrero vs. Kurt Angle
WWE SmackDown! April 14, 2005
Steel Cage Match
Rey Mysterio vs. Eddie Guerrero
WWE SmackDown! September 9, 2005
World Heavyweight Championship Match
Batista vs. Eddie Guerrero
WWE No Mercy October 9, 2005
Eddie’s Final Match
Eddie Guerrero vs. Mr. Kennedy
WWE SmackDown! November 11, 2005
Much like the most recent Rey Mysterio set, I am most excited to relive the old ECW and WCW goodness. In order to sweeten the pot, Best Buy is releasing a seven-disc set for $39.99 that will include this three disc set, the two-disc “Cheating Death†set and RAW tribute from after his death. Suncoast/FYE will be selling a similar set with the SmackDown! tribute probably for a retail price of $75.
In other DVD news, WWE is set to release a 2-disc “Best of Saturday Night’s Main Event†DVD on February 10, 2009.
Woo-hoo!
Weekly Paul London Update
Well it finally happened. Paul London was given his walking papers. Only a couple weeks after I started my Paul London vigil the inevitable happened. He was strategically let go after WWE released their abysmal third quarter numbers and announced that they would be cutting $20 million in company costs. We have all known this day was coming for weeks and months now and he should have been in Ring of Honor yesterday (or Saturday actually) reminding people that he can still go inside the ring. Seriously, London versus Danielson or Tyler Black or Austin Aries would be just great fun. Adam Pearce and Cary Silkin, if you want to restore your fanbase’s faith in the product, bring in Paul London at the first available opportunity. Or even a stop in TNA for Paul where he can play with guys like AJ or Angle or Christian would be great fun.
Wrestler of the Week
Week of November 3 – 9: Chris Jericho
This is a no-brainer this week as Chris Jericho rightfully took back the World Championship from Batista, who in my humble opinion is staler than three-day-old bread. Jericho is now back on top of the red brand, but I do wonder for how long, what with the volatile main event scene on RAW and his upcoming Title match with John Cena at Survivor Series. But for this week at least Jericho is king.
RAW’s On Tonight!
RAW is live (no it’s not) from England tonight and on tap his Santino Marella defending his Intercontinental Championship against Blackpool, England’s native son William Regal. Regal normally plays the heel of all heels, but the company knows he will get a hero’s welcome from his native fans. Plus I’m sure Chris Jericho will be there to have his Championship address and gloat. I would guess JBL would be there to have words about or new President-elect, but being they are across the pond it wouldn’t have the same effect as if the show was here in America. And with Mike Adamle out as GM the search for a new RAW figurehead begins again.
On Last Week’s Episode…
BLUE
How They Rated
A.M. RAW (11.2.08) – .7
RAW (11.3.08) – 3.0
ECW (11.4.08) – .95
SmackDown! (11.7.08) –
This is Boring, What Else is There to Read?
Glazer talks about what you just saw at this past weekend’s Ring of Honor shows.
Wiswell has a humorous take on what not to expect at last Friday’s Ring of Honor show, the first under Adam Pearce’s pencil.
Marshall made it another week as the TNA news guy. Two weeks is a long time for that gig around this place.
Wiswell has a great article explaining the concept of what Gabe Sapolsky meant to Ring of Honor fans.
IP Staff Roundtable Results for TNA Turning Point
TNA had a PPV last night, and Pulse Wrestling staff got together to do a roundtable about it. Here’s the roundtable and here are the results. Let’s see how we did.
Roundtable Champion: It’s a three-way tie, as three writers all came up with 5-3, but all had completely different picks that cost them.
Mark Allen: 5-3 (116-51)
David Brashear: 5-3 (113-78)
Paul Marshall: 5-3 (100-64)
Danny Cox: 4-4 (175-152)
