World Wrestling Entertainment is talking to other networks about its “Smackdown” television franchise, according to The Hollywood Reporter.
“WWE’s Smackdown is being shopped to various networks after NBCUniversal — whose USA Network airs the highly rated pro wrestling matches — declined to re-up its deal,” the report said. “NBCU is said to be focusing on renewing its pact for WWE’s Raw, another wrestling franchise, and that deal is expected to close at as much as three times its current value.”
Shares of World Wrestling Entertainment surged 14 percent Thursday after the The Hollywood Reporter article.
WWE declined to comment. NBCUniversal did not immediately respond to a request for comment.
Disclosure: NBCUniversal is the parent of CNBC.
Source: Investment Cnbc
WWE shares soar after report on ‘Smackdown’ and ‘Raw’ TV deals negotiations