Welcome to another edition of The Wrestling Post. In this edition we talk about WWE stock and an actual WWE Hall of Fame.
WWE stock hits 52 week high
On a day in which the Dow Jones U.S. Media Index fell nearly 2 %, the WWE stock hit a 52 week high and was up slightly at the close of trading on Friday. WWE stock was as high as $21.05 and fell off slightly to $20.84. Even at a company high, it is still listed as “Buy” by several research firms. Its current market cap is at 1.57B.
Payout Take: Remember when you could have bought WWE stock for $12? The positive press from the WWE’s upcoming network has helped raise the company profile. But the stock gains may be attributed to the upcoming rights fee deal that will likely happen by the end of February.
NBCU sweetens deal with WWE Hall of Fame
Speaking of the WWE rights fee deal, NBCUniversal, seeking to retain the WWE is offering the company a Hall of Fame at its Universal Studios theme park in Orlando, Florida. According to the New York Post, the Hall of Fame is part of a “final pitch” to Vince McMahon as its exclusive negotiating period ends February 1.
Payout Take: The WWE rights fee deal will be something to watch next month. While a Hall of Fame is nice, it will not substitute for the monetary value the WWE seeks for its signature franchises (i.e., Raw and Smackdown).
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