WWE’s “Very Big Announcement” Concerning Cable Network
During WWE’s third quarter conference call with investors on November 3, 2011, CEO Vince McMahon stated the organization would “soon be making a very big announcement” regarding WWE Network plans. He said the company feels confident they “finally turned the corner” on the cable television network’s status to make the announcement. Included will be future expenses of $4-6 million for staffing and $10-15 million for additional equipment and construction of their media center to house network operations.
According to a source within WWE’s corporate headquarters in Stamford, Connecticut, the “very big announcement” is that Wrestlemania 28 will be broadcast live. The cable television network is expected to be launched on April 1, 2012, the day of WrestleMania.
WWE has bought extensive amount of office space in Norwalk and Stamford, Connecticut to employ over 200 employees for the cable television network. They’ve also spent money on trailers so employees could work on digitizing their vast tape library. WWE has approximately 100,000 hours of footage in their tape library, with 30,000 hours currently digitized.