Richard Gray of Wrestling News World wrote the following report:
WWE Chief Executive Officer Linda McMahon was on “Mad Money” with Jim Cramer last night on CNBC. Cramer was very complimentary of WWE as he said that their stock is a “dream come true. “ He said that investors are reluctant to buy the stock because they do not know about WWE and look down on the product. He noted that the stock produces a high dividend yield and has high growth potential.
Linda was brought on the show after Cramer’s introduction as she talked about WWE’s international growth. McMahon talked about WWE opening offices in Australia, China, and Japan. She commented on the successful tours of the company in Western Europe and said that the company was looking to expand in Eastern Europe.
Cramer questioned McMahon about international live event attendance vs. domestic live event attendance, asking if today’s international live event attendance is like domestic events ten years ago. Linda said that while domestic business is picking up, they are not selling out live events like they are internationally. She said that domestic business is a growth opportunity.
Linda said that the reason they doubled the stock dividend is because the McMahon family owns approximately 70 percent of WWE stock so they wanted to reward common shareholders and long-term investors. She said they also wanted to preserve cash for future investments.
Cramer asked Linda if Wall Street under-covers the product because they do not know much about it. McMahon said that WWE is constantly trying to tell their story and the company is committed to doing a better job of marketing.
The segment ended with Linda plugging WrestleMania XXIV on March 30. She said the company has sold 61,000 tickets with $5.5 million gross revenue. Linda gave Cramer a WWE Championship spinner belt for him to wear. Cramer concluded by telling Linda, “Thanks for making everyone money.”
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