The real reason why WWE SmackDown TV rights deal wasn’t renewed by Fox has been revealed.
In September, TKO Group Holdings announced that WWE SmackDown was heading back to the USA Network after agreeing to a new five-year rights deal with NBC Universal to return to the network.
This ends the five-year run of the Friday night show airing on Fox since 2019.
Many fans have wondered why the relationship between WWE and Fox wasn’t renewed with a new deal and now we know the answer.
On today’s FOX Q1 Earnings call, FOX CEO Lachlan Murdoch explained why the network decided to move on from the deal with WWE. He said:
“We were not hitting the advertising numbers due to the audience of the WWE for our return on investment to be above the levels that we would accept,”
“But also, we didn’t attribute enough significant retransmission revenue to the WWE either.”
“So, it made sense for us to move on. They’ve been a great partner for many years but just quite simply, we’re very disciplined and the ROI didn’t meet our pretty disciplined parameters. So, we wish them luck and we’ve moved on from them.”
WWE’s deal with USA Network was reportedly $1.4 billion, which is a 40% increase over the deal they had with Fox.
NBC will air four WWE specials annually in prime time with this new deal.
On the Q1 2024 Fox Earnings Conference Call, Fox CEO Lachlan Murdoch explains why they didn't renew WWE:
— Jed I. Goodman © (@jedigoodman) November 2, 2023
We were not hitting the advertising numbers due to the audience of the WWE to make...to return for our return on investment to be above the levels that we would accept. But… pic.twitter.com/Hbwqf84tr0
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