Exhibit 99.1

FOR IMMEDIATE RELEASE                                       CONTACT:  GARY DAVIS
- ---------------------                                       203.353.5066



     WWE Assigned Lease for its Times Square Premises to Hard Rock Cafe

STAMFORD,  Conn.,  November  17,  2004 -  World  Wrestling  Entertainment,  Inc.
(NYSE:WWE(R))   announced   today  that  it  has  assigned  to  Hard  Rock  Cafe
International  the lease for the Company's  former  entertainment  complex,  The
World, at 1501 Broadway, New York, NY.

WWE had accrued for all  estimated  shut-down  costs in previous  fiscal  years,
including the rent anticipated under the lease, net of any sub-let income. Total
costs,  including  final cash  payments  of  approximately  $5  million  made in
connection with this  transaction,  are less than the costs accrued.  WWE has no
further obligations with respect to this lease or location.

World  Wrestling  Entertainment,  Inc.  (NYSE:  WWE) is an integrated  media and
entertainment company headquartered in Stamford, Conn., with offices in New York
City,  Los Angeles,  Toronto and London.  Additional  information  on WWE can be
found at WWE.COM and CORPORATE.WWE.COM.

Forward-Looking   Statements:   This  news  release   contains   forward-looking
statements  pursuant to the safe harbor provisions of the Securities  Litigation
Reform Act of 1995, which are subject to various risks and uncertainties.  These
risks and  uncertainties  include the conditions of the markets for live events,
broadcast television, cable television,  pay-per-view,  Internet, entertainment,
professional  sports,  and licensed  merchandise;  acceptance  of the  Company's
brands,  media and merchandise within those markets;  uncertainties  relating to
litigation;  risks  associated with producing live events both  domestically and
internationally;  uncertainties  associated with  international  markets;  risks
relating to  maintaining  and  renewing  key  agreements,  including  television
distribution agreements; and other risks and factors set forth from time to time
in Company filings with the Securities and Exchange  Commission.  Actual results
could differ materially from those currently expected or anticipated.