News

WWE Pins Down Viacom Shares

6/11/2003 6:20 AM Eastern

World Wrestling Entertainment Inc. is apparently going to wrestle back shares
of the company that are owned by Viacom Inc.

WWE announced Wednesday that it plans to repurchase 2 million shares its
class-A stock that Viacom owns, or about 3 percent of WWE's total outstanding
common stock.

But that doesn't mean the two companies will part creative ways, according to
CEO Linda McMahon.

"This transaction in no way affects our strategic alliance with Viacom, and
we strongly believe our relationship with our valued partner will continue to be
excellent," she said in a release.

More information about the transaction will be provided during WWE's Friday
earnings call.

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