WWE’s “Friday Night SmackDown” show is slated to return to USA Network in October 2024 as part of a new five-year media deal between TKO Group Holdings and NBCUniversal, WWE announced Thursday.
SmackDown has aired on Fox since October 2019, on a five-year, $205 million per year deal. The new deal averages $287 million per year, which totals $1.4 billion.
Meanwhile, WWE said it does not expect to sign a new agreement for its other flagship show, “Raw” until 2024.
Regardless of what viewers may think, investors aren’t happy with the change of networks. Shares of TKO (which began trading last week following the merger of WWE and UFC-owner Endeavor) fell more than 11% Thursday afternoon to $89.21.
“It’s a privilege and thrill to continue NBCU’s decades-long partnership with WWE which has helped cement USA Network’s consistent position as the top-rated cable entertainment network in live viewership,” said Frances Berwick, chairman of NBCUniversal Entertainment.
“With Friday nights on USA, primetime specials on NBC, and the WWE hub on Peacock, we’ll continue to use the power of our portfolio to super-serve this passionate fanbase.”
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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