SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 2000
World Wrestling Federation Entertainment, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 000-27639 04-2693383
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1241 East Main Street, Stamford, CT 06902
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (203) 352-8600
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Item 5. Other Events.
On September 18, 2000 World Wrestling Federation Entertainment, Inc.
("WWFE") issued the press release filed as an exhibit to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press Release dated September 18, 2000.
Page 2 of 6 pages.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WORLD WRESTLING FEDERATION
ENTERTAINMENT, INC.
By: /s/ August J. Liguori
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August J. Liguori
Executive Vice President and
Chief Financial Officer
Dated: September 18, 2000
Page 3 of 6 pages.
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EXHIBIT INDEX
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99.1 Press Release dated September 18, 2000.
Page 4 of 6 pages.
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[LOGO]
WORLD WRESTLING FEDERATION ENTERTAINMENT, INC.
EXHIBIT 99.1
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COURT DECISION AFFIRMS AGREEMENT BETWEEN VIACOM AND WORLD
WRESTLING FEDERATION ENTERTAINMENT
(STAMFORD, CONN. - September 18, 2000) It's official -- the World Wrestling
Federation's highly rated RAW IS WAR is moving to TNN and SUNDAY NIGHT HEAT is
moving to MTV. The Delaware Supreme Court today affirmed the ruling of the
Chancery Court of the State of Delaware earlier this summer approving the new
strategic alliance between Viacom Inc., (NYSE: VIA, VIA.B) and World Wrestling
Federation Entertainment, Inc. (NMS: WWFE).
"We would like to thank the USA Network for being our home for the past 17
years, " said Linda McMahon, CEO of WWFE. " For almost two decades we have
contributed to each other's growth and development. However, we are excited
about the opportunities that our agreement with Viacom provides to strengthen
the WWF brand with our fan base, expand our penetration in existing markets, and
broaden our reach around the globe."
Under the 5-year agreement, WWF's RAW IS WAR, the No. 1 rated program on cable
television will still air on Monday nights from 9-11 p.m., but will move to TNN,
effective September 25, 2000. Both WWF LIVEWIRE and WWF SUPERSTARS will also air
on TNN. WWF SUNDAY NIGHT HEAT will air on MTV starting October 1, 2000. The
agreement also includes the extension of UPN's broadcast of WWF SMACKDOWN!, the
top-rated show on UPN. All WWF programming will receive promotion across
Viacom's media platforms, including television, radio and billboards. In
addition, the agreement provides for the development, production and broadcast
of television and radio specials, including a one-hour television drama series.
The agreement calls for the continuance of pay-per-view events at Viacom's
Famous Players theaters in Canada, and provides for WWF attractions at Viacom's
Paramount Parks. To solidify this arrangement, and as a sign of its commitment
to this alliance, Viacom has taken a 3% equity stake in WWFE.
Viacom is the No. 1 platform in the world for advertisers, with preeminent
positions in broadcast and cable television, radio, outdoor advertising, and
online. With programming that appeals to audiences in every demographic category
across virtually all media, the company is a leader in the creation, promotion,
and distribution of entertainment, news, sports, and music. Viacom's well-known
brands include CBS, MTV, Nickelodeon, VH1, Paramount Pictures, Infinity
Broadcasting, UPN, TNN, CMT, Showtime, Blockbuster, and Simon & Schuster. More
information about Viacom and its businesses is available at www.viacom.com.
Page 5 of 6 pages.
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World Wrestling Federation Entertainment, Inc. is headquartered in Stamford,
Connecticut, with sales offices in New York City, Chicago and Toronto. WWFE is
an integrated media and entertainment company, engaged in the development,
production and marketing of television programming, pay-per-view programming and
live events, and the licensing and sale of branded consumer products featuring
the highly successful World Wrestling Federation (WWF) brand. The company
currently has more than 600 employees and has exclusive contracts with
approximately 125 performers. The Company can be found on NASDAQ under the
symbol WWFE and online at WWF.com and WWFECORPBIZ.com.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking
statements that are subject to various risks and uncertainties. These risks and
uncertainties include: the conditions of the markets for live events, broadcast
television, cable television, pay-per-view, Internet, food and beverage,
entertainment, professional sports, and licensed merchandise; acceptance of the
Company's brands, media and merchandise within those markets; and other risks
and factors identified in the Company's Prospectus dated October 18,1999; its
quarterly reports on Form 10-Q and its consolidated financial statements
included in the Corporation's current report on Form 10K dated April 30, 2000;
and other documents filed with the Securities and Exchange Commission. Actual
results could differ materially from those currently anticipated.
Contacts:
Viacom WWFE
Susan Duffy Gary Davis
212-258-6347 203-353-5066
Page 6 of 6 pages.
