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WWE +12.7% to all-time high as Guggenheim sees TV gold

Published 05/17/2018, 09:57 AM
© Reuters.  WWE +12.7% to all-time high as Guggenheim sees TV gold
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  • World Wrestling Entertainment (NYSE:WWE) has jumped 12.7% and hit an all-time high after a note from Guggenheim suggests the company's TV rights renewals values are looking pretty conservative in the wake of reports of a new UFC deal.
  • The ultimate-fighting league reportedly has a deal with ESPN Plus for some $350M annual value on average.
  • That's a "baseline minimum achievable target" for WWE, says Guggenheim's Curry Baker, who points to the company's higher and more stable ratings than UFC along with a surplus of content hours. It means the renewal cycle could push WWE's annual average value above Guggenheim's estimate of $294M (and well above the company's current $145M). (h/t Bloomberg)
  • WWE is up 42.5% YTD and up 123.5% over the past 12 months.
  • Now read: AMC Networks: Q1 Wasn't That Good - But It Looks Good Enough For Now


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