Shinsuke Nakamura and Karrion Kross wrestle during the WWE SmackDown at Coliseo de Puerto Rico José Miguel Agrelot on May 5, 2023, in San Juan, Puerto Rico.
Gladys Vega | Getty Images Sport | Getty Images
WWE’s “Friday Night SmackDown” is set to make its return to USA Network in October 2024, as part of a new five-year domestic media rights partnership between TKO Group Holdings and NBCUniversal , according to an announcement made by WWE [source].
Following the announcement, TKO’s shares dropped more than 14%.
The media rights deal is valued at an average of $287 million per year, with a total worth exceeding $1.4 billion, as per sources familiar with the matter cited by CNBC. However, WWE does not anticipate securing a rights agreement for its flagship show “Raw” until next year.
“SmackDown” has previously aired on Fox since October 2019, under a five-year deal worth $205 million per year. The new agreement represents a significant 40% increase. Prior to its tenure on Fox, “SmackDown” was broadcasted on USA Network between 2016 and 2019.
WWE is now a subsidiary of TKO Group Holdings, which was formed through a merger between WWE and Endeavor’s UFC. TKO recently made its debut on the NYSE.
In addition, WWE will produce four prime-time specials each year, to be aired on NBC starting from the 2024-2025 season.
“We are delighted to continue our long-standing partnership with WWE, as it has played a crucial role in solidifying USA Network’s position as the leading cable entertainment network in terms of live viewership,” stated Frances Berwick, chairman of NBCUniversal Entertainment. “Through Friday nights on USA, prime-time specials on NBC, and the WWE hub on Peacock, we will continue to leverage our portfolio’s power to cater to this passionate fanbase.”
Disclosure: CNBC’s parent company, NBCUniversal, holds ownership of the mentioned entities.
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