SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------
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): January 9, 2009
World Wrestling Entertainment, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 000-27639 04-2693383
--------------- ---------------- -------------------
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
1241 East Main Street, 06902
Stamford, CT
--------------------------------- -----------
(Address of principal executive (Zip
offices) Code)
Registrant's telephone number, including area code: (203) 352-8600
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2 (b) under the
Exchange Act (17 CFR 240.14d-2 (b))
|_| Pre-commencement communications pursuant to Rule 13e-4 (C) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.05 Costs associated with Exit or Disposal Activities.
On January 9, 2009, World Wrestling Entertainment, Inc. (the "Company")
announced that it is reducing approximately 10% of its staff across all areas of
its global operations. The reduction will result in annual savings of
approximately $8 million in compensation and benefit costs. The Company will
incur an approximate $3 million one-time pre-tax restructuring charge in the
first quarter of 2009. The charge will be a cash charge consisting primarily of
severance pay. Actual cash payments relating to this charge will be made
primarily in 2009.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release dated January 9, 2009.
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 ENTERTAINMENT, INC.
By: /s/ George A. Barrios
-----------------------------------
George A. Barrios
Chief Financial Officer
Dated: January 14, 2009