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WWE and UFC parent’s stock, TKO, rockets after deal to show ‘Raw’ on



Shares of TKO Group Holdings Inc. soared toward a record gain Tuesday, after the parent of World Wrestling Entertainment and Ultimate Fighting Championship announced a deal with Netflix Inc. in which WWE’s “Raw” program will be shown exclusively on the streaming service.

The deal marks a major shift in programming as the weekly “Raw” program will leave linear TV for the first time since its inception 31 years ago.

“This deal is transformative,” said TKO Chief Operating Officer Mark Shapiro. “It marries the can’t-miss WWE product with Netflix’s extraordinary global reach and locks in significant and predictable economics for many years.”

Financial terms and the length of the deal were not disclosed. WWE didn’t not immediately respond to a request for comment.

TKO’s stock
TKO,
-0.18%

rocketed 21.4% in premarket trading, which puts it on track to surpass the current one-day record gain of 20% rally on Dec. 31, 1999.

And Netflix’s stock
NFLX,
+0.57%

climbed 1.9% ahead of the open, while shares of Endeavor Group Holdings Inc.
EDR,
+0.12%
,
which holds a controlling interest in TKO, jumped 5.9% toward a 21-month high.

Starting in January 2025, “Raw” will stream exclusively on Netflix in the U.S., Canada, U.K. and Latin America, with additional countries to be added over time.

Netflix will also exclusively show all WWE shows and specials outside of the U.S. as they are available, including “SmackDown” and “NXT,” as well as “WrestleMania,” “SummerSlam” and “Royal Rumble.”

“We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix,” said Netflix Chief Content Officer Bela Bajaria. “By combining our reach, recommendations, and fandom with WWE, we’ll be able to deliver more joy and value for their audiences and our members.”

TKO said WWE’s “Raw” is currently the top show on the USA Network. Meanwhile, shares of Comcast Corp.
CMCSA,
+0.62%
,
the parent of NBCUniversal, which runs USA, gained 0.4% in Tuesday’s premarket.

TKO’s stock has lost 1.8% over the past three months through Monday, while the S&P 500 index
SPX
has run up 15%.



Read More: WWE and UFC parent’s stock, TKO, rockets after deal to show ‘Raw’ on

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