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Technology Stocks : WWFE - World Wrestling Federation
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To: SteveJerseyShore who wrote (62)12/8/1999 2:12:00 PM
From: SteveJerseyShore   of 77
 
Just found some good news;
WWF Ad Sales Surge to $33 Million

NEW YORK (Reuters) - World Wrestling Federation Entertainment Inc. (WWFE.O) said on Wednesday its revenues from television advertising sales would reach about $33 million in the fourth quarter, more than three times as much as the $10 million it raked in during the same period a year ago.

The pro-wrestling entertainment and media company said in a statement the ad sales represent a 100 percent sellout for all WWF programming for the three months ending Dec. 31. The company also said it added 15 sponsors during the quarter.

The announcement comes less than two weeks after Coca Cola (KO.N) pulled its advertising from WWF's television shows after a parental advisory group raised objections to their violent and sexual content.

``In the end, the only sponsor that left was Surge, a brand of Coke, who planned to do about $4 million of advertising with us in the year 2000, which we immediately resold at

higher rates,' said Jim Rothschild, the company's senior

vice president of North American sales.

The WWF spun off about 17 percent of the company in an initial public stock offering in mid-October.

WWF's shares were off 1-1/2 at 18 early Wednesday afternoon on the Nasdaq stock market.

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