NEW YORK (TheStreet) -- Shares of World Wrestling Entertainment (WWE) rose 2.26% to $14.95 in after-hours trading Wednesday after the company announced a partnership with FOX Sports Latin America (FOXA) to deliver 480 hours of original WWE content per year to Latin American nations.
The deal will bring WWE programming to 56 million homes on multiple FOX Sports and FOX Premium platforms throughout all of Latin America, including Mexico, Brazil, Argentina, Colombia and Venezuela.
The partnership takes effect on Monday, October 6, when FOX Sports airs a live broadcast of WWE's flagship show Monday Night Raw. Other original WWE programming such as Friday Night SmackDown, Main Event, NXT and WWE Vintage Collection will air weekly FOX Sports, FOX Sports 2 and regional digital platform FOX Play. WWE's pay-per-view events will be available on FOX Premium in Latin America and on FOX Play in Brazil.
Separately, 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 solid stock price performance, revenue growth and largely solid financial position with reasonable debt levels by most measures. 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."