- During today’s WWE investor’s conference call, Vince McMahon discussed the future of WWE Films. McMahon stated that the company was optimistic that the new model under the supervision of Studios head Michael Luisi will ensure the long-term viability of the division. But he did note that if things did not work out, that they could bail from the film business, stating the following…
“If new films strategy does not work, we will get out of films business. (But) I really feel strongly that under this new guidance, this really will work.
“I really think this is going to work. There is a specific time when we say, ‘This is not working.’ But, I don’t think we’ll get there.”
McMahon then noted that losses from the previous model have been accounted for, which means there will not be a constant series of impairment charges going forward. He also stated that the strategy going forward is to spread out expenses and risk with other production companies.
CFO George Barrios then added that they are budgeting a significant amount for expenses to hold up their end of the bargain. He noted that they are budgeting $15-25 million for 2012, which allows them to participate in 4-8 movies.
Finally, it was noted that it will take time to evaluate the success or failure of the movies produced and distributed under the new model because some films will not be released until 2013 and 2014.
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