Topics

Vince McMahon
WWE stock gets smacked down after new TV deals are unveiled
WWE stock gets smacked down after new TV deals are unveiled

Normally signing a new long-term TV deal for more money would be good for a company's stock. But since unveiling an agreement to keep its hit shows "Raw" and "Smackdown" on NBCUniversal's cable networks USA and Syfy respectively, WWE stock looks like it's being beaten by one of its wrestlers. Since Thursday night, after the new contract was announced at an NBCU Cable presentation to advertisers, WWE stock has fallen almost 45% to $11.32 a share.  Why the smackdown? Analysts were expecting a much bigger contract. NBCU was paying around $90 million annually for "Raw," "Smackdown" and E!'s "Total Divas," according to...

Loading