The WWE is a company with issues. Their recent network launch has been a flop. The Pay Per View model is dying. People aren't attending live shows, as in the past. Perhaps, most importantly, the CEO, Vince MacMahon, is pushing 70, and his heir apparents don't appear to be up to the task.
By all rights, this a great short candidate. That's the problem. There's too much company on the short side. So, the extra passengers need to get thrown off the train by moves like this, 20%, which can wreck havoc on your ability to maintain proper risk management.