JohnCenaFan28
11-11-2008, 12:58 AM
Linda McMahon was on the FOX Business channel this afternoon to discuss WWE's financial strategy moving forward. McMahon said the future of WWE will be expanding their international touring, which will come at the expense of $20 million in budget cuts. She said the company recognized adverse economic issues in the second quarter, then did a full-scale budget review in the third quarter. "We are reviewing all of our business lines, going through all of our operational structure, and we will take out $20 million in our operational cost structure next year," McMahon said. "We are looking at at least $20 million operational cost structure cut." When asked whether the soft economy is a factor in their recent drop in earnings, McMahon said WWE tries to keep ticket prices down and tries to vary which markets they tour in. "We are looking across all of our revenue lines and we're going to keep costs down to manage that bottom line," McMahon said. In the past week, WWE has released Super Crazy, Chuck Palumbo, Paul London, Kenny Dykstra, Elijah Burke and Lena Yada. Linda McMahon's statement that WWE is looking to cut up to $20 million in operational costs ties into several reports out there that more cuts are on the way.
Source: EWN
Source: EWN