World Wrestling Federation Entertainment and Sony Music Video Partner for Home Video Distribution Deal.
STAMFORD, Conn.--(BUSINESS WIRE)--July 18, 2001
World Wrestling Federation Entertainment, Inc. (NYSE: WWF) today announced that it has entered into an agreement with Sony Music Video providing Sony Music with the exclusive right to sell and distribute World Wrestling Federation VHS and DVD releases to retail outlets in the United States.
The deal is expected to significantly expand the distribution of WWFE's Home Video and DVD titles.
As part of the agreement, WWFE will continue to be responsible for the creative development, marketing and production of all home World Wrestling Federation videos and DVD's.
Starting this month, Sony Music Video will kick-off its deal by distributing four home video titles to retail outlets. The first scheduled for release under the agreement are: WWF Hardcore (DVD), Judgment Day (DVD), King of the Ring (VHS), and The Best of Raw is War Volume 3 (VHS).
"This is a deal that leverages the strengths of two entertainment companies," said Stuart Snyder, President and COO of WWFE. "World Wrestling Federation can focus on what we do best - create entertaining content for our fans. By bringing Sony Music Video on board, we can leverage their sales and distribution expertise to expand our business to previously untapped retail outlets."
This year, WWFE expects to produce more than 40 VHS and DVD titles, including 12 pay-per-view events, behind-the-scenes talent biographies and the popular Divas swimsuit video. WWFE currently has 11 of the top 20 video titles on Billboard's Sports and Recreation Chart.
David Pierce, Executive VP and General Manager of Sony Music Video, added, "The huge popularity of the WWF and the incredible sales success of its home video product makes this a very attractive partnership for us. We are looking forward to utilizing our distribution strength to maximize the presence and sales success of the WWF video product at all retail channels and further increase the WWF's position as the premiere sports entertainment home video brand."
Sony Music Video is a division of Sony Music Entertainment, a leading global producer, manufacturer, and marketer of recorded music and video, employing approximately 12,000 people with a presence in 60 countries and a recorded catalogue containing the world's greatest artists and entertainers.
World Wrestling Federation Entertainment, Inc. is an integrated media and entertainment company headquartered in Stamford, Conn., with sales offices in New York City, Chicago and Toronto. Additional information on the company can be found at wwf.com and wwfecorpbiz.com.