Major Media Article On WWE's Struggling Studios Division

Variety has an article about the struggling WWE Studios division, based on information from yesterday's Q3 2011 report.

The article noted that WWE Studios saw revenue drop 51% to $3.7 million from last year, due to poor box office and home video sales. The division took a $5.1 million impairment charge from three of their releases, Knucklehead, The Chaperone and Inside Out, which dragged down the company's earnings.

For the last quarter, the company saw their revenue drop to $108.5 million as compared to $109.6 million in the prior year quarter.

The article noted that WWE is relying "heavily" on the return of The Rock to turn things around, noting that his appearance at WrestleMania 27 this past April boosted pay-per-view buys to "its highest number in years," and the announcement of his in-ring return at Survivor Series led to the event being sold out in 90 minutes.

Source: Variety