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Published: Thu, 6 Nov 2008
Description: WWE CEO on earnings and entertainment
Automatically Generated Transcript (may not be 100% accurate)
" And earnings just missing analysts' expectations but you know what they put the smack down on the bottom line."
" Here -- exclusive interview the CEO and cofounder of the WW. Linda thanks mad great to see a Linda thank you forgot again thanks for having me appreciate itself. You guys -- hadn't yet you hate the word recession group is nothing is recession proof it's got to thank you all -- entertainment is doing a little better. The most of the other industries houses downturn affecting you."
" Really it would be easy to. Explain everything away with the economy however I do think that there is some softening with our business some of our revenue lines -- results for the economy but. We're managing our bottom line better now we identified. Last quarter that we were going to cut our costs and we have spent this past quarter review all of our business lines with -- operational structure and we will take out twenty million dollars and operational cost structure next year in addition we've also bought our cat fixed. Spending thirty million dollars last than what we reported last quarter show. Both of those are are dramatic differences brush and so we're looking at at least that twenty million dollar operational cost structure."
" How we're watching video led to have all of your wrestling with the so much is your workers compensation bill like seriously as well as we look at entertainment overall. People arts questioning their own spending. And and we've talked of you know heads of basketball teams in baseball teams and people are still wondering how they're going to get. Fans to cough up the money. That it takes to just get in the door when he -- the ticket prices anything."
" Well I'll tell you one of the things that we do with our fans as we always want to deliver the value. To our fans -- they come to our live events from my -- product we'd be cavaliers we've said that. Did the pressures in the economy is not going to affect those industries that are. For instance our consumer products division but I think we try to manage prices in the marketplace -- careful how often we come to a market. We're looking across all of our revenue lunch and again as I said -- gonna keep cost down to manage that bottom line."
" Linda you're keeping costs down but I'm wondering where -- wrestling go we're looking at some of the lady resolution right now come and then all picked out frankly they looked battered looking at a picture of may but. But I gotta ask well where you see wrestling going say five years from now."
" We are so absolutely bullish on our business with our international growth. -- the Asian market and that we have opened offices in Shanghai. Where and that we're in Japan were in Australia we're Sao Paulo. We've just done to a new television deals in Mexico on televisa and TV Azteca. We'll have our first live event tuition China's and 9 like mid 9. And that will probably be in India by 2010. Moped was interrupted their and so you're going forward -- for -- the growth areas that everybody talked about some of the brick nations India China Brazil. As as you look at that do you foresee them continuing at -- pace that they'd been we've already seen China's growth coming down. China's that has been coming down -- will be going in for the first time we've just completed a licensing agreement for mentoring -- website. And does so will be going into those markets for the first time to aid to a fan base that has not seen our product and I think are really anxiously anticipating. That need to be coming into their marketplace we've been developing that that market slowly we've had a pro social. Initiative set in place and I think we're moving the way we should be moving creating an interest through the Internet and -- our television programming. We're on currently informed provinces in China unexpectedly on six by the end of the year so we think that China is a market that's going to be very -- to us."
" You know we gotta run but I -- ask are -- Chinese wrestlers are you just broadcasting. Your own group wrestlers from here."
" Currently Debbie -- is a great export product of the United States and those stated in China want to say. The superstars of Debbie -- as they see them on television nicely when -- madame WWE. Please join us again yes they enlargement as we'd like your progress thanks very much -- some of the Chinese wrestlers won medals during the Olympics so from traditional -- Lester slightly different kind of -- you have a real --"
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