WWE stocks shoot up 17% after new TV deals announced

 
 

WWE stocks shot up 17% in after-hours trading yesterday, closing at a whopping $78, a new all-time high for the company.

Stocks closed at $66.76 earlier in the day but as soon as the FOX and NBCUniversal agreements were officially made, Wall Street got busy and resulted in the biggest change in one single day for WWE stocks.

The new television deals with both networks will increase WWE’s TV rights revenue by 3.6 times. Rumors are that the deal with NBCUniversal for Raw is worth $265 million per year, or $1.325 billion in total, while the deal with FOX is $205 million per year, or $1.025 billion in total, for a combined $2.35 billion.

WWE will host a conference call today to talk about the new agreements.

The UK and India television deals – the next big ones for WWE – are also about to expire and are currently in negotiations.