Fallout from WWE's new financial outlook

Needless to say, Wall Street didn't take too kindly to WWE's new TV deal. While TV rights did increase, WWE had basically assured stockholders TV rights would at least double. There also continue to be concerns about the viability of the WWE Network making up for lost PPV revenue.

WWE stock dropped nearly 50% after the market closed Thursday. I can't think of any time they've taken that big of a hit so quickly. I think WWE got too ambitious with the TV rights situation and the Network is going to take longer to be successful than they thought.

According to comments made last year at a conference call, Vince McMahon's owed a hammerlock due to the rights fees situation. It's a shame WWE fell so far short of what they promised. What went wrong?

Everything else from yesterday's financial news is after the break.

Businessweek.com had two articles on WWE's stock plunge: one about the Network and one about TV rights.

Forbes.com looked at Vince McMahon losing $340 million after Thursday's financial news. That's not a typo. That's really got to sting. Will someone get fired over all this?

WWE has announced a conference call for Monday to address their outlook for 2014 and 2015. That will be very interesting.

An investment firm with a big stake in WWE is calling for new management or ownership following the big financial setbacks. I don't know how realistic of an expectation that is, but it's something to consider.

Vince McMahon addressed the big losses. I think it might be time for him to step back more and let some other people take the reins in some areas.

An investigation is being launched following the disappointing returns.

More wrestling tomorrow.