World Wrestling Federation Announces $35M International TV Deal
Wed. February 16, 2000 12:00 AM by Business Wire
Stamford, CT -
World Wrestling Federation Entertainment, Inc. (NMS:WWFE) has renewed its 13 year relationship with British Sky Broadcasting (LSE:BSY.L) in the UK by signing a new five year $35 million distribution agreement, which takes effect in the fiscal quarter ending April 30, 2000. This agreement represents a significant increase in license fee to WWFE and also increases the number of first run WWFE programming hours on BSKYB by more than 50%.
BSKYB is the dominant satellite broadcaster in the UK, available to 28% of TV households. Through this agreement, BSKYB also becomes the first European television entity to license SmackDown!, the number one series on UPN domestically. In addition, BSKYB will broadcast Raw is War, Livewire, and Superstars, all of which are seen domestically on USA Network; Metal, an hour-long syndicated program in the United States; and eight 2.5 hour special events. BSKYB will also air programs from WWFE's Classics library, bringing the total number of WWFE programming hours on BSKYB to 440 per year.
This agreement follows the recently announced distribution deal with Channel 4, one of five national free TV broadcasters in the UK. Channel 4's 62-hour annual agreement consists of Sunday Night Heat, seen domestically on USA; and four 2.5 hour specials based on domestic Pay-Per-View events.
Linda McMahon, WWFE President and CEO, and Andrew Whitaker, SVP of International TV Distribution, said the two agreements were part of the Company's strategic plan to expand distribution of the WWF brand around the world. "The UK strategy closely follows the WWFE's successful domestic formula of partnering with both broadcast and pay television platforms," said Mrs. McMahon.
Forward-Looking Statements: This news release contains forward-looking statements, which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live, broadcast television, cable television, pay-per-view, and Internet entertainment; and licensed merchandise; acceptance of the Company's media and merchandise within those markets; and other risks and factors identified in the Company's Prospectus dated October 18, 1999 and other documents filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.
BSKYB is the dominant satellite broadcaster in the UK, available to 28% of TV households. Through this agreement, BSKYB also becomes the first European television entity to license SmackDown!, the number one series on UPN domestically. In addition, BSKYB will broadcast Raw is War, Livewire, and Superstars, all of which are seen domestically on USA Network; Metal, an hour-long syndicated program in the United States; and eight 2.5 hour special events. BSKYB will also air programs from WWFE's Classics library, bringing the total number of WWFE programming hours on BSKYB to 440 per year.
This agreement follows the recently announced distribution deal with Channel 4, one of five national free TV broadcasters in the UK. Channel 4's 62-hour annual agreement consists of Sunday Night Heat, seen domestically on USA; and four 2.5 hour specials based on domestic Pay-Per-View events.
Linda McMahon, WWFE President and CEO, and Andrew Whitaker, SVP of International TV Distribution, said the two agreements were part of the Company's strategic plan to expand distribution of the WWF brand around the world. "The UK strategy closely follows the WWFE's successful domestic formula of partnering with both broadcast and pay television platforms," said Mrs. McMahon.
Forward-Looking Statements: This news release contains forward-looking statements, which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live, broadcast television, cable television, pay-per-view, and Internet entertainment; and licensed merchandise; acceptance of the Company's media and merchandise within those markets; and other risks and factors identified in the Company's Prospectus dated October 18, 1999 and other documents filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.
News, photos provided by Business Wire.