By James Caldwell, Torch assistant editor

WWE is reporting a preliminary average of 173,000 buys for the first two PPVs of the fourth quarter, Hell in a Cell and Bragging Rights.

The Hell in a Cell PPV on Oct. 3 is listed for more than 200,000 buys. The reported figure for Bragging Rights on Oct. 24 is fewer than 150,000 buys. WWE's second PPV in October was the same weekend as UFC 121 featuring Brock Lesnar.

WWE will distinguish the individual PPV buys when they report fourth quarter earnings in 2011. WWE updated their monthly business figures this week with the preliminary buys for the two October PPVs.

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The preliminary figure for Bragging Rights 2010 the PPV in the same category as Fatal Four-Way in June, which drew 143,000 buys. Looking at October PPVs, Cyber Sunday 2008 drew 153,000 buys and was replaced with Bragging Rights in 2009, which drew 181,000 buys.

Hell in a Cell 2010 is below 283,000 buys for the 2009 version, but it could be financially even with No Mercy 2008, which drew 261,000 buys, factoring in the $5 price increase for domestic PPVs in 2010.

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The fourth quarter 2010 preliminary figure of 173,000 average buys is down from the 2009 and 2008 fourth quarter average of 232,000 buys. Not factored into the 2010 average is the preliminary figure for Survivor Series, which should raise the average as a Big Four PPV.

Out of the average of 173,000 buys reported, WWE is reporting that 92,000 buys were domestic and 81,000 buys came from international sources.

The domestic split is 53 percent compared to 55 percent in fourth quarter 2009 and 54 percent in fourth quarter 2010.

Caldwell's Analysis: Poor Bragging Rights had no chance. The PPV was up against UFC 121, there was more buzz on Brock Lesnar vs. The Undertaker that weekend, Brett Favre and the Vikings were facing the Packers on prime time TV, WWE already presented Hell in a Cell the same month, and WWE failed to establish an organic rivalry between Raw and Smackdown.

Graphs: The following are graphs from WWE's updated business figures. The first graph shows the 2010 PPV trend on the blue line compared to 2008-2009. The second graph shows the average buys for PPVs in the fourth quarter 2008-2010.

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