WWE today announced financial results for its third quarter. You can read the full report here.

During the WWE conference call this morning, Vince McMahon revealed that the WWE Network will be a premium subscription model, as has been rumored for awhile. McMahon noted that the network will be distributed across all platforms, and that the company has budgeted $30-40 million for it. No potential launch date was revealed.

McMahon also said that the company's contract for SmackDown with Syfy will be up soon and then stated that they will evaluate how much of their programming will appear on the network.

Devin Cutting contributed to this article. Follow Raj Giri on Twitter at @RajGiri_303. Got a news tip or correction? Send it to us by clicking here.