News On WWE Making Major Production Cuts, WWE Stock Note, WWE Studios President Sells Shares

- The Street has an article here about WWE Studios President Michael Luisi recently selling 5,415 shares of WWE stock, which we noted last week. He sold the stock at $11.20 per share, reducing his stake by 4.37%.

- In more news on WWE budget cuts, Rant Sports has an article here about WWE looking to cut production costs by $20 million this year. The article noted that the pay-per-view stage areas now look the same as for RAW and SmackDown, the ring ropes are now white for all shows, and that pyros for wrestler entrances might be cut. More elaborate entrances like Fandango's have also been scaled back.

- The market does seem to be reacting positively to the news. While the market is up slightly as of this writing, WWE stock is up over 4%.

BigTuna212 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.

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