WWE stock smacked down over 40% from poor TV deal

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WWE stock smacked down over 40% from poor TV deal

Financial Markets News 0

CNN MONEY | on Fri, May 16, 8:14 PM


World Wrestling Entertainment suffers a bad day in the ring
FORTUNE — World Wide Entertainment, the producers of wrestling 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.’s NBC Universal (CMCSA[1]) signed a multi-year deal to continue broadcasting WWE’s “Raw” on USA Network a…



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