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WWE issued the following press release this morning on their fourth quarter earnings and fiscal 2007 year-end results.

World Wrestling Entertainment, Inc. (NYSE:WWE) today announced financial results for its fourth quarter ended December 31, 2007. Revenues totaled $132.6 million as compared to $107.6 million in the prior year quarter while operating income was $24.7 million as compared to $17.5 million in the prior year quarter. Net income was $21.5 million, or $0.30 per share, as compared to $15.5 million, or $0.22 per share, in the prior year quarter.

"We ended the year with solid fourth quarter performances from all of our operating units, resulting in a 23% increase in revenue over last year. The quarter capped off a very successful year in which we set an all-time revenue high of $485 million," said Linda McMahon, Chief Executive Officer. "We expect our initiatives for international expansion and the continued improvement in our Digital Media and Wireless businesses will help us sustain our growth momentum in 2008."

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Selected highlights from the fourth quarter 2007 (Nov. - Dec.) revenue segments found in the press release:

- Revenues from our Live and Televised Entertainment businesses were $82.3 million for the current quarter as compared to $72.7 million in the prior year quarter, representing a 13% increase.

- Live Event revenues were $30.9 million as compared to $24.4 million in the prior year quarter.

-International events generated approximately $16.9 million of revenues as compared to $12.5 million in the prior year quarter, reflecting an increase in average ticket price to $83.47 in the current quarter as compared to $70.12 in the prior year.

-North American events generated $14.0 million of revenues from 49 events as compared to $11.9 million from 62 events in the prior year quarter. North American average attendance was approximately 7,100 in the current quarter as compared to 5,300 in the prior year, an increase of 34%. The average ticket price for North American events was approximately $40.66 in the current quarter as compared to $35.78 in the prior year.

- Pay-Per-View revenues were $19.9 million as compared to $18.7 million in the prior year quarter. There were four pay-per-view events produced in the current quarter as compared to five events produced in the prior year quarter.

- The revenue increase in the current quarter reflects a higher proportion of domestic buys, which generate higher revenues per buy. Buys from domestic markets represented 63% of total buys in the current quarter as compared to 58% of total buys in the prior year quarter.

- PPV Buys (2007 / 2006):

No Mercy 271,000 / 197,000
Cyber Sunday 194,000 / 228,000
Survivor Series 341,000 / 383,000
December to Dismember No PPV / 90,000
Armageddon 237,000 / 239,000

- Revenues from our Consumer Products businesses were $35.3 million versus $23.9 million in the prior year quarter, a 48% increase.

- Home Video net revenues were $19.8 million as compared to $14.0 million in the prior year quarter. The increase in Home Video revenues primarily reflects the strong performance of several new titles released in the current quarter, including titles featuring Superstars John Cena(R) and Shawn Michaels(R), among others.

- Licensing revenues were $9.4 million as compared to $6.3 million in the prior year quarter, primarily reflecting increases in apparel, toy, and novelty related sales of 128%, 48%, and 161%, respectively.

- Magazine publishing net revenues were $6.0 million as compared to $3.3 million in the prior year quarter, reflecting increased newsstand and subscription copies sold per issue. We published four issues of WWE Magazine in each quarter and published three magazine specials in the current quarter as compared to two specials in the prior year quarter.

- WWE.com revenues were $4.2 million as compared to $3.3 million in the prior year quarter. Wireless content revenues increased by $0.7 million, while web-based advertising increased by $0.2 million.

- WWEShop revenues were $7.7 million as compared to $7.7 million in the prior year quarter as the number of orders processed during the current quarter declined by 9%, partially offset by an increase in the average per order spend by our customers to $62.10 as compared to $56.97 per order in the prior year quarter.

- WWE Films Revenues from our WWE Films segment were $3.1 million in the current quarter. WWE participates in film revenue when our distributors have recouped their print and advertising costs and the results have been reported to us. Revenue in the current quarter primarily relates to our feature film "See No Evil". Our capitalized feature film production asset balance is amortized in proportion with the recognition of revenue. In the current quarter we wrote off certain developmental costs which offset our profit in "See No Evil".

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Summary Results for the 12 months of Fiscal 2007 (Jan. - Dec.)

Total revenues for the twelve months ended December 31, 2007 were $485.7 million as compared to $415.3 million in the prior year period, a 17% increase. Operating income for the current period was $68.4 million versus $65.6 million in the prior year period. Net income was $52.1 million, or $0.72 per share, as compared to $48.8 million, or $0.68 per share, in the prior year period.

As previously disclosed, the current year results reflect the $15.7 million asset impairment for our feature film "The Condemned". Excluding this impairment charge, EBITDA would have been $93.5 million as compared to $74.3 million in the prior year period, representing a 26% increase.

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