According to the WWE Corporate Website, these are the four recognized divisions of the WWE
Live and Televised Entertainment- consists of live events, the sale of merchandise at live events, television programming and pay-per-view, and video on demand programming.
Consumer Products- consists of the sale of toys, books, video games, magazines and home video products.
Digital Media- consists of online advertising, ecommerce, broadband and mobile services.
WWE Studios- focused creating a diversified mix of filmed entertainment, including theatrical films, direct-to-DVD movies, and scripted television movies, series and reality programming.