So sayeth Mr. McMahon:

"In the second quarter, our performance fell below management expectations as trends weakened in the latter part of the quarter. Although we believe the continued softness in the economy played a part in our results, recent changes in our talent base may have also impacted key operating metrics, particularly domestic pay-per-view buys and live event attendance," stated Vince McMahon, Chairman and Chief Executive Officer. "In addition, our profitability was negatively affected by the reduction in revenue from high margin businesses and by the logistical costs related to the Icelandic volcano. We view some of these factors as temporary and, looking ahead, we remain confident in our ability to address these challenges by producing compelling content and cultivating consumer demand. On a positive note, the second quarter reflected improved results in our Home Video business and our continued success in managing our expenses."

Definitely an interesting read. Highly recommended.