The following is an ongoing report on the WWE conference call featuring Vince McMahon, Linda McMahon, and other WWE personnel discussing the second-quarter earnings report.

-Michael Weitz opened the call and read through the usual disclaimer.

-Vince checked in and said he felt they did a "pretty good job" in the second quarter. He said WrestleMania falling in the second quarter is unusual. He said even without WrestleMania the numbers still show a roughly four percent increase in attendance. "Especially in today's climate, that's pretty good news," Vince said.

-"The television ratings are generally up," Vince said. He noted that the DVD and pay-per-view revenue sharply declined. He said it's probably due to the economy, but stated that they also need to do a better job of "creating compelling content." Vince said he's still "bullish" about WWE business and said they are working on a three-year business plan.

Powell's POV: The company comes up with a three-year business plan, but can't be bothered to book more than three days ahead? I'm just saying. If the DVD sales are down, this would be the time to produce a Brock Lesnar DVD.

-They ran through the financial report that was issued earlier today. It was noted that WrestleMania did $21 million in pay-per-view money. Home video is down 54 percent compared to last year. Two fewer titles were released during this quarter. Online advertising is up, online merchandise sales are down. You can read the full report at WWE.com.

-The first caller asked if the celebrity guest hosts have boosted ratings and whether we can expect to see more of that in the future. Vince said Shaquille O'Neal boosted ratings. He said the goal is to reach out to a new audience via the celebrities. He said they got a lot of attention from ESPN for Shaq. He said the legends will also be in the mix.

-A caller asked if there's any litigation taking place regarding the Denver Debacle. Vince said there's no litigation, but he is expecting an apology letter that he probably won't receive. He said they sent them a bill of roughly $300,000 to cover the costs of relocating. They have no paid the bill yet.

-Vince said the WWE Superstars show is right where he and WGN America expected the show to be in the ratings. Vince said they have negotiations coming up with USA Network that will be "interesting." He said they are looking at "non-event" television that takes place outside the arena.

-Vince said they were more cost conscious with this year's WrestleMania, which saved them $7 million compared to the outdoor show at WrestleMania 24.

-A caller asked about the DVD sales declining. Vince turned it over to Donna Goldsmith, who said they have strong titles coming out in the second half of the year. They are also looking at the content closely.

Powell's POV: How about more documentaries rather than just a bunch of matches?

-Another caller asked if they can expect similar profitability out of WrestleMania in future years. Vince said they are more conscious of all their production expenses.

-The caller asked about "12 Rounds." Vince said the box office numbers were "a bit disappointing." He stressed that they show modest earnings in their films division and is optimistic about the division's future.

-A caller asked about the declining live events numbers and asked whether they have considered discounting their tickets. Vince said that's for the circus. He said they merely adjusted their ticket prices and lowered their lowest price tickets.

Powell's POV: Isn't discounting tickets and lowering prices essentially the same thing? Maybe I'm missing something.

-Vince said there will likely be more international events in their three-year plan. He said they won't always be "a-type events," but they still expect them to be profitable.

-A caller asked them to discuss the strong television rights fee numbers, and the venue merchandise sales. They cited WWE Superstars as being a key for the television increase. The caller asked if the merchandise sold at live events is the same as the merchandise sold online. They said it was. They cited DVD sales declining as a primary reason. Goldsmith said they're the number one boys brand at Wal Mart.

Powell's POV: Linda McMahon was apparently in the room, but I don't believe she spoke once.

This concluded the conference call.

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