Netflix and TKO Group Holdings have announced that Netflix will begin airing WWE’s “Raw” next year, marking Netflix’s first venture into live sports. The 10-year deal, valued at over $5 billion, grants Netflix the option to exit after five years and extend for another decade. “Raw” will be available for streaming globally, with exclusive rights in the U.S., Canada, U.K., and Latin America. Additionally, Netflix will become the home for all WWE shows and specials outside the U.S., including “SmackDown,” “NXT,” ”WrestleMania,” “SummerSlam,” and “Royal Rumble.”
Following this news, TKO shares surged over 20%, coinciding with the announcement of actor and former wrestling superstar Dwayne Johnson joining its board of directors. Meanwhile, Netflix shares experienced a modest increase of less than 1% ahead of the company’s earnings report.
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2024-01-23 10:26:45
Article from www.cnbc.com