The following press release was sent out early this morning:
Genius Products and World Wrestling Entertainment Form New Tag Team Tuesday October 17, 4:00 am ET McMahons and Bob and Harvey Weinstein Form a Powerful Entertainment Partnership
SANTA MONICA, Calif.--Genius Products, LLC. has entered into a multi-year agreement with World Wrestling Entertainment, Inc. (WWE), to be the exclusive home entertainment distributor of all WWE DVD titles, effective November 1, 2006, a partnership that lays the foundation for a "Smackdown" on the entertainment industry. The announcement was made today by Bob and Harvey Weinstein, Co-Chairmen of The Weinstein Company, the majority owner of Genius Products, and Vince McMahon, WWE's Chairman, along with Genius Products' Trevor Drinkwater, President and CEO, Genius Products' Stephen K. Bannon, Chairman, and WWE's Shane McMahon, Executive Vice President, Global Media, and Donna Goldsmith, Executive Vice President, Consumer Products.
"Home entertainment is a major part of the WWE's business, and we believe we have found in Genius a company that understands our brand and will help us continue to drive our company's growth," said Vince McMahon. "Bob and Harvey Weinstein have a tremendous track record. We're excited about this partnership and its long-term potential."
WWE has successfully used its core businesses of live events, pay-per-view, and producing television content for broadcast and cable networks to establish a vibrant global brand with a presence in more than 130 countries. The company has significantly expanded its line of popular licensed consumer products, such as video games, toys, books and magazines, to territories around the world. WWE is focused on spreading its sports entertainment content to new media platforms, and has experienced success with subscription video on demand, broadband and mobile services, online advertising and ecommerce. It also has created a film division focused on the production of feature films, and other film and television projects.
Bob Weinstein noted, "WWE is not simply a brand; it is an American Icon. Harvey and I very much relate to Vince McMahon's entrepreneurial style and entertainment philosophy. We love what Vince has done in making WWE the leading sports entertainment franchise in the world, and we are very interested in expanding our relationship beyond DVD distribution to other facets of WWE's global entertainment empire. We view our relationship with WWE as a major alliance with great growth potential."