Biz Briefs

Nov 24, 2003  •  Post A Comment

World Wrestling Entertainment reported a third-quarter profit last week, lifted by an additional pay-per-view event, strong advertising sales and cost cutting. The Stamford, Conn.-based WWE posted a profit of $17.2 million, or 25 cents per share, vs. a year-earlier loss of $1.6 million, or 2 cents per share. The company attributed the year-ago red ink to charges taken on discontinued operations of its entertainment complex, The World. Revenue climbed nearly 5 percent to $94.4 million, due to the company holding four pay-per-view events during the quarter compared with three in the year-earlier period. That additional event garnered another $5.3 million in revenue.

EchoStar Campaigns Against Cable `Pig’
EchoStar Communications last week launched its latest salvo against the cable industry, an advertising and marketing campaign designed to tap into a cable subscriber base that is increasingly restive over soaring rates and urging those consumers to “stop feeding the pig” that is cable. Using television, print, radio and a newly launched Web site, StopFeedingThePig.com, EchoStar’s consumer satellite service, DISH Network, said it is using good-natured humor to highlight the rising cost of cable subscriptions and showcase EchoStar’s service as a low-cost alternative. The effort comes as ESPN launches a campaign of its own, targeting Cox Communications customers and telling its side of the programming fee fight it is having with Cox, which has threatened to put the channel on a tier if an agreement over programming fees cannot be reached. Separately, EchoStar said satellite veteran C. Michael Schroeder was elected to the board of the No. 2 satellite operator, which increased the size of its board to eight with Mr. Schroeder’s appointment.