WWE blames Middle East TV programming deal for plummeting shares

WWE shares have plunged well over 15 per cent after the biggest promotion in the sports entertainment industry missed its profit forecasts and Wall Street’s expectations at its various events, including the company’s merchandise businesses. WWE has recently acquired new TV deals in the United States with Fox and Comcast but has been on the losing side on the Wall Street in 2019.

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WWE fails to sign a new TV deal

WWE attributes this to failure of landing a new TV deal in the Middle East. According to reports, this is particularly due to the worries about the WWE’s TV deals overseas pending for renewals, noting the company and their partners had yet to find common ground. This includes the ones in the Middle East and India and involves the programming of both WWE RAW and Smackdown.

WWE's failure to strike a deal in the Middle East can definitely be troublesome and raises questions as the company has made a concerted effort over the years to expand its business and fan-base in the market. The company recently wrapped up the Crown Jewel pay-per-view in Riyadh, Saudi Arabia which featured some of the biggest fights of the year.

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WWE is also willing to tailor its content to make their product more acceptable to the Middle East audiences. The question that is left to be answered is when will the biggest promoter in sports entertainment find a TV partner to air more of its programming.

WWE News - Other major TV deals

WWE has also signed a new multi-year exclusive pay-TV agreement with the television sports channels BT Sport in the UK which will end Sky Sports coverage of the professional wrestling and is set to take off in 2020, and another extension deal with that of Fox Sports in Latin America. The terms have not been disclosed just yet.

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