Multiple sources are reporting WWE SmackDown LIVE will be going to Fox from next October for a fee of $1 billion over five years. It is expected to remain a two-hour show and WWE is said to be cashing in on TV channels’ thirst for live sport TV.
Reports are that there is huge interest in acquiring the show, and even talk of a higher bird from a third party. However, WWE are drawn to Fox’s commitment that they will heavily promote SmackDown across a large sports portfolio including the NFL and Major League Baseball.
The news has clearly had a positive effect on the WWE stock price, with the close marking the highest in the stock’s history – $57.86. Earlier in the day when the news first broke of the reported Fox deal, the shares were trading at $59.45.