WWE released their Fourth Quarter and Full Year financials today. In the release, they noted that they will be replacing the WWE corporate jet…

Free Cash Flow is also expected to decline in 2013 due to capital expenditures of $50 million to $60 million, of which approximately 65% is an estimated one-time expenditure to replace our aging corporate jet, which is nearly 20 years old. We expect the acquisition of the aircraft will be financed at attractive rates, and that the sale of our current aircraft will offset a significant portion of the down payment. As indicated above, a network launch within the year would further negatively impact 2013 Free Cash Flow. Similar to our EBITDA performance, successful execution of our content strategy could significantly enhance our Free Cash Flow by 2015.