Growing WWE to move to new HQ in Stamford in 2021
USA’s World Wrestling Entertainment is to move its headquarters in Stamford, Connecticut, USA to a new office complex in the city.
The move will allow the company to bring together its operations, including its production studios and corporate offices at its new site. It said: “The new headquarters will provide the company with work space suited to its growing and evolving workforce.”
The move, which is scheduled for 2021, is part of the organisation’s long-term growth strategy, according to George Barrios, WWE’s co-president, who said: “One of the most important elements necessary to execute WWE's long-term growth strategy is world-class talent collaborating seamlessly to create compelling content. Our workplace initiative will be the foundation to meet these objectives and underpins our ability to deliver long-term value.”
WWE is to sell its existing office building.
Last month, WWE announced revenues of $903 million for 2018, compared with $801 million the previous year, with revenues of $63.5 million for the fourth quarter, up from 2017's $20.6 million.
Net income was $99.6 million, up from $32.6 million in 2017.
WWE has forecast $1 billion in revenue for 2019, bolstered by new TV deals that kick in during the fourth quarter.
WWE is gearing up to face a challenge from All Elite Wrestling, a new professional wrestling series that aims to compete directly with it. The promotion’s first event is scheduled to take place in Las Vegas on 25 May.