World Wrestling Entertainment takes a pounding in TV ratings

<br>STAMFORD, Conn. (AP) _ Judged by the lines of loyal fans who stand in the cold for hours to witness the flying bodies, the explosions and the cheesy intrigue, World Wrestling Entertainment is doing

Monday, December 2nd 2002, 12:00 am

By: News On 6

STAMFORD, Conn. (AP) _ Judged by the lines of loyal fans who stand in the cold for hours to witness the flying bodies, the explosions and the cheesy intrigue, World Wrestling Entertainment is doing just fine.

``It's a grown man's soap opera,'' said Jovany Rosado, 27, of New Britain, who attended a recent WWE show in Bridgeport. ``There's a lot of twists and turns.''

But lately WWE, a commercial empire with matches shown in 10 languages and 130 countries, had been taking a pounding in the ratings. The loss of some star performers and competition from other wrestling outfits are weakening its hold on audiences, for whom its plots may be becoming too _ is this possible? _ outlandish.

Average viewership so far this season for the TV show ``RAW'' is 3.1 million households, down 14 percent from 3.6 million last season, 20 percent from 2000 and 35 percent from the 1999 season, according to figures from Nielsen Media Research. ``SmackDown!'' has suffered a similar decline.

WWE stock, which reached more than $25 a share shortly after it went public in 1999, is now less than $9 on the New York Stock Exchange.

At performances, many fans carry signs praising their favorite wrestlers and questioning the manhood of their enemies. The most devoted fans wear masks and capes. The fans especially love the melodramatic story lines surrounding the matches.

But lately it seems they're loving them less.

``It's not like everyone suddenly discovered it's fake and they don't want to watch it,'' said Dennis McAlpine, an analyst with McAlpine Associates in Scarsdale, N.Y. ``It just sort of drifted down and they haven't been able to stop it drifting.''

WWE officials acknowledged the decline in ratings but say its programs remain among the top-rated on cable.

``Clearly we don't have, at the moment, everything the audience wants to see,'' said WWE chairman Vince McMahon. ``It's just a matter of time before it goes through the roof again.''

He said the company expected a temporary setback after WWE split its wrestling stars into separate television programs following the acquisition last year of its longtime rival, World Championship Wrestling. WWE also has new ventures involving books and movies to boost the bottom line. Wrestling icon Hulk Hogan just released an autobiography.

McMahon said WWE is also developing new stars to replace some popular ones who have left, to the distress of hardcore fans.

``Stone Cold'' Steve Austin, who pleaded no contest last week to assaulting his wife, was suspended after he failed to show up for a performance. Another wrestler, called Triple H, has been out with injuries, while The Rock has been busy making movies.

Also gone is Mankind. ``He got dropped on his head too often,'' McAlpine said.

WWE has been generating some intrigue outside the ring lately, too.

A former general manager of the company's entertainment complex in Times Square was accused of stealing more than $400,000, while the chief financial officer and chief marketing officer were fired.

A female wrestler, 6-foot-2, 230-pound Nicole Bass, took a claim of sexual harassment to a circus-like trial in federal court in New York. The case ended in a victory for the company last month.

The company also continues to tangle over the trademark WWF, which it claims for the World Wrestling Federation, with an environmental group that is known for protecting pandas and wants the letters for the World Wildlife Fund. WWE lost that battle but is fighting over damages.

WWE recently received a settlement from a television watchdog group and an apology from the lawyer for a 12-year-old boy who killed a 6-year-old girl in Florida in 1999. The lawyer had claimed the boy was imitating TV wrestling moves.

Analysts are not as worried by the legal troubles as by the ratings.

They want to see the show creating a buzz, as it did recently with a program about two gay wrestlers tying the knot. During a commitment ceremony, they turned out to be straight.

``We're seeing a gradual and modest improvement in attendance and television ratings,'' said Michael Tew, an analyst with Bear Sterns. He cited a recovery in fall ratings for ``Smackdown!''

``I think the company has just been able to more effectively create better story lines,'' he said.

The fans will let them know for sure.

At the recent ``RAW'' show in Bridgeport, the arena was nearly full. Fans chanted, ``Boring!'' during an early match between new wrestlers. There were both cheers and jeers when a wrestler called Raven came out in a Scottish kilt, dreadlocks and green streaks across his face. And fans erupted when squeaky-voiced Stacy Keibler came out in a skimpy outfit.

Ryan Kwolek, 21, of Meriden, said story lines are getting too complicated.

``They're trying to go over the top when they don't need to be,'' Kwolek said.