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WWE News
WWE News: Linda McMahon compares WrestleMania 25 ticket sales to last year; announces first tour in key market (w/VIDEO) Nov 24, 2008 - 2:54:06 PM
Appearing on TheStreet.com's online TV show, WWE CEO Linda McMahon put a rosy outlook on WWE's business despite the recent pummeling in the stock market and tough third quarter financial report.
McMahon says one key aspect is WrestleMania 25 ticket sales, which she says are favorable compared to last year when looking at total revenue are generated for the next Mania compared to the same time last year.
"Those tickets are moving very well," McMahon said. "We're already ahead of the revenue we received for WrestleMania 24 at the same time of tickets being on-sale." McMahon added that 14 of the 22 events on the most-recent European tour were sold-out.
McMahon then announced the first live event tour of China, which WWE has targeted for July 2009. She added that the goal is to reach 250 million people in China through their TV programming.
Regarding the company's strong dividend payout rate of 13 percent, McMahon said the dividend is still secure and management is focused on building long-term investment opportunities for investors who want to stick with WWE over the long haul.
"Our entire management team is committed to running the business to continue to pay this dividend," she said. "We've already announced to the Street that we're taking $20 million out of our operating budget for next year and $30 million will come out of our capital expenditures, which is cash on the balance sheet we fund our dividend with."
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