This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WWE Jumps on Rumored New Television Deal

Updated from 4:00 p.m. to include additional information about previous television deals and closing stock price.

NEW YORK (TheStreet) -- World Wrestling Entertainment (WWE - Get Report) shares jumped on a rumor the company may announce its new television deal tomorrow, with NBC's Upfront presentation, scheduled to take place tomorrow.

First reported in The Wrestling Observer, WWE is expected to announced it has renewed its longstanding television deal with NBC to bring its popular television shows Raw and Smackdown back to NBC properties. Currently, Raw is televised live on the USA Network, while Smackdown is taped on SyFy on Tuesday, and then airs on Friday.

According to a source close to the situation, there is "no update" on the television deal, after the current deal with NBC saw its exclusive negotiating window expire in February. The current deal is set to expire later this year.

Must Read: How Netflix Will Be the Next TV Network

However, it should be noted WWE wrestlers, Nikki and Brie Bella, known as the Bella Twins, are at NBC Upfront.

On the company's first-quarter earnings call, CEO Vince McMahon said, the company would be "announcing in several weeks what we're doing domestically as we complete negotiations." McMahon also noted the company was in the middle of negotiations with its television provider in India.

WWE, based in Stamford, CT., has recently extended some of its other television negotiation contracts. In January, shares of the publicly traded entertainment company soared on news it had re-upped its deal with British cable-TV provider BSkyB for significantly more money than the previous deal.

Shares of WWE closed the session higher, gaining 5.2% to $19.35, bucking the trend of the broader markets, as the S&P 500 lost 0.47% to close at 1,888.53.

--Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
WWE $17.55 5.50%
AAPL $93.89 0.16%
FB $118.66 0.92%
GOOG $700.02 1.00%
TSLA $242.85 0.87%


Chart of I:DJI
DOW 17,901.57 +127.93 0.72%
S&P 500 2,079.93 +14.63 0.71%
NASDAQ 4,813.0850 +37.7270 0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs