WWE stock smacked down over 40% from poor TV deal
| on Fri, May 16, 8:14 PM
World Wrestling Entertainment suffers a bad day in the ring
FORTUNE — World Wide Entertainment, the producers of wrestlingÂ extravaganzas like WrestleMania, took a body blow on Wall Street today. Investors sent the company’s shares tumbling 43% after it announced a new television contract suspected to be less lucrative that expected along with an uncertain financial outlook.
Comcast Corp.’sÂ NBC Universal (CMCSA) signed a multi-year deal to continue broadcasting WWE’s “Raw” on USA Network a…