WWE Secures Multi-Year Media Rights Deals With USA Network and Fox Sports
June 26 2018 - 5:09PM
Dow Jones News
By Stephen Nakrosis
World Wrestling Entertainment Inc. said Tuesday it secured
multi-year rights deals with USA Network and Fox Sports, which will
see "Monday Night Raw" continue to air on USA Network and see Fox
Sports distributing "SmackDown Live" each Friday.
Stamford, Conn.-based WWE said "These agreements increase the
average annual value of WWE's U.S. distribution to 3.6 times that
of the prior deal with NBCU."
Referring to the five-year deals, WWE said "Management
recognizes the transformative nature of these agreements and
expects to provide additional long-term perspective on the
company's strategic and financial goals after its content
distribution plans in the U.S., U.K. and India have been determined
and its plans have further evolved."
21st Century Fox, the owner of Fox Sports, and News Corp., the
parent of Dow Jones Newswires, share common ownership.
NBC Universal is the owner of USA Networks.
In after-hours trading, shares of WWE were up 5.15% at
$70.05.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 26, 2018 17:54 ET (21:54 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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