WWE Network Pins 1M Subs, Taking Company Shares Off The Ropes
The announcement comes at a difficult time for WWE. It has lost 46% of its market value during the past 12 months as it became clear that the $9.99-a-month online service was cannibalizing revenues from the company’s popular pay-per-view broadcasts. The company said last May that it would need at least 1.4 million subscribers for the initiative to pay off. – David Lieberman, Deadline Hollywood
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