November 13, 2023 Observer Newsletter: TKO earnings call, NXT to The CW
TKO had its first investors call on 11/7, and as compared with the previous decade-plus of WWE, it was completely different.
For one, nobody from WWE was on the call, as it featured TKO CEO Ari Emanuel, COO Mark Shapiro, and CFO Andrew Schleimer.
The previous details on WWE’s business have also changed. While this call only covered 19 days of WWE business, from the official transaction on 9/12 until 9/30, it’s clear much of the details from live attendance figures, to detailed breakdowns by segment, were not there and likely won’t be there going forward.
They announced revenue for the quarter from 7/1 to 9/30 of $449.1 million with $239.7 million in EBITDA, although the company had a net loss of $21.9 million for the quarter due to a number of expenses, including a $3.86 per share dividend to WWE Class A stockholders as part of the change in ownership to TKO.
Subscribers can click here to read this week’s newsletter.
Dave Meltzer is the founder and lead writer on the Wrestling Observer Newsletter, the weekly constant when it comes to news and reviews in pro wrestling and mixed martial arts for more than 40 years. Dave also co-hosts Wrestling Observer Radio with Bryan Alvarez and had had bylines for The National, Yahoo Sports, MMA Fighting and others.