Dow Jones 8,804.84 -40.31  9:55 pm EST, Sun., Nov 24, 2002  NASDAQ 1,468.74 +1.19  For info, visit access.smallcapnetwork.com .  S & P 500   930.55 -3.21  To be removed, please click here .  Russell 2000   400.00 +2.32  VOLUME 02: ISSUE 78 A Company That Packs A Punch You may not like World Wrestling Entertainment (WWE) (formerly known as the World Wrestling Federation) but the WWE has become embedded in our culture.  The company enjoys some of the highest ratings on cable and has one of the most recognizable brands in entertainment. However, times have gotten a little tougher these days.  Gone is the once hated rival World Championship Wrestling (WCW) that was backed by Ted Turner.  Vince McMahon, the maestro behind the WWE is basically enjoying a monopoly for the first time in history.  Why then is the company's stock been beaten down this past year? Part of it can be blamed on the defunct XFL football league that started with a bang and ended with a whimper.  It didn't help that Vince McMahon told Wall Street analysts to kiss him on his other cheeks when they questioned his judgment for dabbling in football. The WWE is basically a private company with a public listing. Insiders and 5% owners currently hold approximately 83% of the company with the bulk of the ownership belonging to Vince McMahon and his wife Linda McMahon who serves as WWE's Chief Executive Officer.  The remaining 17% makes up the company's float of 11.7 million shares.  Funds and institutions own approximately 65% of the float which leaves about four million shares in the hands of small investors who are mainly fans of the WWE. Why us any of this important to our readers?  WWE may not stay a public company and it certainly makes more sense for the McMahon's to take their company private.  WWE went public October 19th, 1999 at $17 per share raising almost $200 million dollars. Friday's close of $8.39 per share leaves the stock down a little over 50% from the IPO price. Let's take a look at some figures. The good news is that the company has over $264 million in cash and approximately $9.6 million in total debt outstanding.   WWE currently has a market capitalization near $600 million dollars. Despite a slowdown in ratings and a drop in revenues things aren't that bad.  For the most recent quarter, World Wrestling Entertainment, Inc., reported a loss of $(0.02) per share.  Excluding a $3.7 million (after tax) legal charge, the company reported EPS of $0.03, beating estimates by three cents.  Total revenue declined 5.5%, to $92.8 million as the WWE continues to struggle with a story line that has become less popular with fans, and as such has been a slight drag on overall business fundamentals.  How much would it cost the McMahon's to take WWE private?  Since they have full control of the company they can pay whatever they want.  A cash buyout at $12 per share would be a 43% premium to Friday's closing price of $8.39 per share.  Since there are only 11.7 million shares to buy back the cost would be approximately $140 million dollars leaving over $120 million in the bank.  You may not like the WWE but the possibility of the company being taken private does leave the chance for a nice gain. 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