World Wrestling Entertainment (WWE) May See New Cable-TV Deal Soon

NEW YORK (TheStreet) -- World Wrestling Entertainment (WWE) may announce a new cable TV home for its Raw and Smackdown shows within the next two months.

Shares of WWE fell 0.5% to $29.64 Friday after setting a record on Thursday.

In an interview with Bloomberg WWE CFO George Barrios said "We think we'll be able to announce a new domestic rights partner at the end of April or beginning of May." The company is in talks with "multiple parties" according to Barrios, though he did not name any potential partners.

WWE currently has a deal with Comcast's (CMCSA) NBCUniversal to distribute its flagship shows.

The company recently launched the WWE Network which streams all of WWE's monthly pay-per-view events including WrestleMania as well as other original content. The network also gives fans access to older episodes of Raw and Smackdown, but the most recent episodes are only available through cable and Hulu Plus.

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TheStreet Ratings team rates WORLD WRESTLING ENTMT INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate WORLD WRESTLING ENTMT INC (WWE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."

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