After weeks of exclusive negotiations, the WWE and Comcast’s NBCUniversal were unable to reach a new programming deal — so Vince McMahon’s entertainment company may walk to another network.
WWE, whose “Raw” programming appears on NBCU’s USA Network and “Smackdown” on the conglomerate’s Syfy network, are both ratings winners. But McMahon’s demand for live-sports-like fees was too much for NBCU to immediately jump at.
While NBCU’s exclusive negotiating window has closed, it still owns a “limited match” on any deal WWE inks with a rival network and could still retain programming rights beyond the Sept. 30 end of its current deal.
It is the first time that all of WWE’s programming assets have become available at once — and the talks come as WWE’s digital subscription service kicks off Feb. 24.
The last major deal with NBCU was struck in 2009.
WWE currently collects about $140 million annually from its deal with NBCU, but is said to be looking for a substantial raise.
“While we were unable to reach an agreement with NBCU during this period, we have certainly appreciated our long and productive partnership,” the Stamford, Conn.-based entertainment company said in a statement on Tuesday.
“With year-round, live programming that is highly coveted by programmers, distributors and advertisers, we are extremely excited about our future,” the statement continued.
Exuding its usual bravado, WWE added, “We look forward to engaging with potential partners who recognize the value of having the No. 1 show on cable and live content delivered 52 weeks a year.”
One TV-rights insider said it was possible that WWE could double or quadruple its current fees.
WWE shares on Tuesday fell 1.1 percent to close at $23.24, but over the past year the $1.5 billion company has seen its shares soar 168 percent.