Shinsuke Nakamura and Karrion Kross wrestle during the WWE SmackDown at Coliseo de Puerto Rico José Miguel Agrelot on May 05, 2023 in San Juan, Puerto Rico.
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WWE’s “Friday Night SmackDown” will make its return to USA Network in October 2024 through a five-year domestic media rights partnership between TKO Group Holdings and NBCUniversal, the company announced on Thursday.
The deal is valued at over $1.4 billion, with an average of $287 million per year. Sources familiar with the matter revealed this information to CNBC. WWE is not expected to finalize a rights agreement for its flagship show “Raw” until next year.
This marks a 40% increase from the previous rights agreement, which had SmackDown airing on Fox for $205 million per year in a five-year deal.
Following the announcement, shares of TKO fell more than 12%.
In addition to the return of SmackDown, WWE will produce four primetime specials per year to air on NBC beginning in the 2024-2025 season.
“We are honored to continue our long-standing partnership with WWE, which has greatly contributed to USA Network’s position as the top-rated cable entertainment network for live viewership,” said Frances Berwick, chairman of NBCUniversal Entertainment. “Through Friday nights on USA, primetime specials on NBC, and the WWE hub on Peacock, we will continue using our portfolio’s strength to serve this passionate fanbase.”
Disclosure: NBCUniversal is the parent company of CNBC.
