WWE shares crater as TV deal disappoints

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WWE shares crater as TV deal disappoints

Financial Markets News 0

MARKETWATCH | 1 hour, 7 minutes ago

NEW YORK (MarketWatch) — World Wrestling Entertainment Inc. /quotes/zigman/250106/delayed/quotes/nls/wwe WWE[1] +3.00% shares tumbled more than 40% in premarket trade Friday on concerns about the company’s new long-term television agreement with Comcast’s NBCUniversal. WWE announced the deal late Thursday after months of talks without disclosing financial terms. But analysts at Benchmark downgraded the stock to hold from buy and said they estimate that NBCu negotiated a 50% increase on the c…

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