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Old 09-12-2014, 01:29 AM   #1
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WWE rumored to be selling off their tape library to Warner Bros
Hasn't been confirmed nor deny yet by the Observer or other more reliable dirtsheet sources but the WWE is rumored right now to be considering selling off their tape library.

The original story from TheWrap.com: http://www.thewrap.com/warner-bros-i...ary-exclusive/
Quote:
Warner Bros. is in talks to acquire the WWE library, two individuals with knowledge of the negotiations told TheWrap.

Warners Bros. and the WWE decline to comment.

While the financial terms of the deal were not disclosed, the library is estimated to have nearly 150,000 hours of content, consisting of television shows, pay-per-view events and house shows dating back to the 1950s. It also contains a large selection of the visual history of modern professional wrestling, and is currently held by Cinedigm.

An insider with knowledge of Cinedigm's WWE contract told TheWrap there is no end date as yet, but the company is transitioning away from the library.

The WWE Network, which launched in February, has made use of the library but hasn't received enough monthly subscribers to make up for its lost pay-per-view orders. At $9.99 per month, it needed 1.3 to 1.4 million subscribers, but the company closed its first quarter with just under 670,000 subscribers and declining PPV revenue. The WWE Network believed it would reach one million subscribers this year.

The WWE Network is a 24/7-streaming network that features 12 WWE live pay-per-view events, original programming, reality shows, documentaries, classic matches and more than 1,500 hours of video on demand at launch.

F4W story on hearing about the news and possible comparisons to UFC:
Quote:
The Wrap.com has an article that WWE is in talks of selling its entire pro wrestling library to Warner Brothers. The story said that neither side would comment on the story and that WWE is transitioning away from using its library. It indicated it was due to disappointing network subscriptions.

The news comes at the same time that UFC is paying significant money to acquire a number of MMA libraries. A source with knowledge of two content libraries that UFC doesn't own said that negotiations for purchasing them has reached significant amounts of money.

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