WWE Surges to Record With New ‘Raw,’ ‘SmackDown’ TV Deals
- Shares surge as much as 15 percent in early New York trading
- MKM analyst says deal will lift TV revenue by 170 percent
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World Wrestling Entertainment Inc. signed new five-year agreements with USA Network and Fox Sports, deals that the company said will contribute hundreds of millions of dollars in revenue growth.
“Monday Night Raw” will continue to air on USA Network, while Fox Sports will show “SmackDown Live” each Friday on the Fox broadcast network, WWE said in a statement Tuesday. The company didn’t disclose terms, but said revenue from key agreements including the new U.S. deals will grow from $235 million this year to $462 million in 2021.