STAMFORD CT– January 9 2009 – World Wrestling Entertainment® today announced a 10% reduction of its staff across all areas of its global operations.  This reduction will result in annual savings of approximately $8 Million in compensation and benefit costs.   Additionally the Company will incur an approximate $3 Million one-time restructuring charge in the first quarter of 2009.

The staff reduction is consistent with the Company’s previous commitment to implement stronger cost controls increase earnings and margins and reduce its cost base by $20 million in 2009.  In addition to staffing the Company has completed a comprehensive evaluation of its operating and capital expenditures and has identified additional efficiencies.  Collectively these initiatives will strengthen the Company’s financial performance.

“These efficiencies will help position the Company for the long term by placing it in a stronger more flexible position ” said Linda McMahon CEO WWE.  “With these actions we believe we can execute our key strategic initiatives including our digital strategy and international expansion in a more profitable manner.”

Additional information on World Wrestling Entertainment Inc (NYSE: WWE) can be found at wwe.com and corporate.wwe.com. For information on our global activities go to http://www.wwe.com/worldwide/.

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Media Contacts:         

Robert Zimmerman 203-359-5131 robert.zimmerman@wwecorp.com

Kevin Hennessy 203-353-8657 kevin.hennessy@wwecorp.com

Investor Contact:        

Michael Weitz 203-352-8642

Trademarks: All WWE programming talent names images likenesses slogans wrestling moves trademarks copyrights and logos are the exclusive property of World Wrestling Entertainment Inc. and its subsidiaries. All other trademarks logos and copyrights are the property of their respective owners.

Forward-Looking Statements: This news release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995 which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live events broadcast television cable television pay-per-view Internet feature films entertainment professional sports and licensed merchandise; acceptance of the Company’s brands media and merchandise within those markets; uncertainties relating to litigation; risks associated with producing live events both domestically and internationally; uncertainties associated with international markets; risks relating to maintaining and renewing key agreements including television distribution agreements; and other risks and factors set forth from time to time in Company filings with the Securities and Exchange Commission. Actual results could differ materially from those currently expected or anticipated.