|
Not quite ready to rumble
|
 |
May 20, 1999: 4:48 p.m. ET
No plans for WWF offering, despite reports, though the firm isn't ruling it out
|
NEW YORK (CNNfn) - Are you ready to rumble? Well, the folks at World Wrestling Federation apparently are not.
Despite a published report that the WWF was considering a public stock offering, a spokesman for the wrestling organization said the WWF has no plans to take its show to Wall Street - at least not immediately.
The WWF "is keeping its options open," said Jim Byrne, a spokesman for the organization. "There has been speculation about an IPO from our organization but at this time we have no immediate plans to go public," he said.
A report on Hollywood trade magazine Variety's website Thursday indicated the famed organization was planning an offering of $150 million using investment dealer Bears Stearns as lead underwriter.
That is not its plan for the moment, "though we're not ruling it out," Byrne said.
WWF's two-hour Monday night show on USA Networks is the highest-rated program on cable, drawing an average 5 million households, which puts it on a par with some of the lower-rated broadcast network shows, according to Nielsen Media Research. 
|
|
|
|
|
 |
|
