WWE to debut network - Westfair Communications

Wrestlemania_XXVII_Stage — WWE is readying a new network to showcase Wrestlemania and other programming.

World Wrestling Entertainment Inc. has quietly widened its ring in Stamford by leasing space across the street from its headquarters as it launches ads to promote a planned TV network to debut next year.

WWE first disclosed in 2009 it was working on creating its own network.

“Finally, we”™re rolling out the WWE Network after all these many years,” said Vince McMahon, CEO of WWE, in an August conference call. “In terms of putting it all together, we have I think the most compelling startup network in ”¦ history, which is saying a great deal, because I understand what other networks have started out as. We have an extraordinary leverage with all the content distributors. ”¦ We think, again, that”™s going to be a significant bottom-line number to us going forward.”

McMahon said the WWE network will include an 8 a.m. live show, without immediately specifying where any studio audience show will be taped. A network could represent a significant boost in employment ”“ the sports network Versus employed more than 100 people at last count at its Stamford studios.

Connecticut offers a significant tax credit for film, TV and digital media production performed here. In the first half of 2011, WWE claimed $6 million in tax credits for film and TV work, as it earned $22.9 million on a 7 percent increase in revenue to $262 million.

In addition to its mainstay wrestling events and TV shows, WWE also runs a feature film studio. Since the third quarter last year, WWE Studios has been distributing its movies rather than relying on third parties. In the second quarter it released “That”™s What I Am,” starring Ed Harris as a teacher who pairs mismatched students on a school assignment, with the film addressing teen bullying and prejudice. In August, the film”™s director Michael Pavone left WWE Studios “to pursue other interests” in WWE”™s words. “That”™s What I Am” cost $4.7 million to make; after showing in a handful of theaters, WWE released the movie to DVD and through June the film had produced sales of $1.6 million.

In response to one analyst”™s query, McMahon said WWE had no plans to partner with the mixed martial arts company Ultimate Fighting Championship, which is trying to get its own network up and running.

“Frankly, I think they fell on their butt recently, trying to do (a) network with NBCU Comcast,” McMahon said. “I don”™t know if it makes any sense for them. I can”™t speak to that, but it makes a great deal of sense for us. Again, they”™re totally different than we are. ”¦ We are in the entertainment business. They”™re in the sports business.”