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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Tim McCormick who wrote (61275)	9/10/1999 4:33:00 PM
From: wlheatmoon	Respond to of 86076

LOL....whatsamater,,you no like home casino?

To: Tim McCormick who wrote (61275)	9/10/1999 4:33:00 PM
From: Les H	Respond to of 86076

Pro Wrestling league to sell 10 mln shrs in IPO NEW YORK, Sept 10 (Reuters) - Pro wrestling kingpin Vince McMahon on Friday unveiled the first details of his plan to sell shares of his World Wrestling Federation (WWF) empire. In a filing with the Securities and Exchange Commission, McMahon's World Wrestling Federation Entertainment Inc. on Friday said it plans to sell 10 million common shares on the Nasdaq National Market at $14 to $16 per share. The professional wrestling group, which declared its intent to go public last month, plans to use the IPO proceeds to expand Internet operations, develop new television programming, and upgrade and expand its television and post-production facility, the filing said. Pro wrestling has become hugely popular in recent years with pay-per-view events, toys, t-shirts, magazines and the World Wrestling Federation's webpage at wwf.com complementing its television and arena event business. WWF net income soared to $56.0 million in the fiscal year ended April 1999 from $8.5 million the prior year. Revenues nearly doubled to $251.5 million in the most recent fiscal year with the help of sales from licensed toys and products. McMahon is one of the WWF's performers and announcers, as well as the head of the ``creative team' that develops story lines and characters. In the infancy of television in the 1950s, pro wrestling was a staple with its clearly drawn battles of good characters battling evil characters. Pro wrestling in recent years has developed story lines that draw from pop culture and news headlines. Pro wrestling promoters have acknowledged that pro wrestling is more of a scripted athletic spectacle than a sport. The underwriters, Bear, Stearns & Co. Inc., Credit Suisse First Boston, Merrill Lynch & Co., and Wit Capital Corp., have been allotted 1.5 million extra shares in the event of heavy demand. The Stamford, Conn.-based WWF filed to sell its shares on Nasdaq under the symbol WWFE.