WWE is entering an incredibly important moment in the promotion’s history as media rights fees are being negotiated. However, recent reports suggest that Fox may not renew the SmackDown brand at a higher rate.
SmackDown currently airs on the Fox Network, but television rights are in negotiations this year for broadcasts starting in September 2024. Vince McMahon returned to the company in January and was unanimously elected as executive chairman of the board. Many felt the former CEO’s return was to help with upcoming media rights negotiations, but that may not be the case.
wrestling inc david bixenspan noted a recent screenshot posted by forbes and forbes media assistant managing editor SportsMoney Managing Editor and Co-host Mike Ozanian. The screenshot originated from a Wells Fargo Securities analyst presentation on upcoming WWE negotiations.
Mike Ozanian noted that Wells Fargo Securities doesn’t think Fox is willing to do a new deal at a rate higher than the current $205 million a year. He suggested that the network might want to split SmackDown with a broadcast partner, or the blue brand could leave its current spot on Fox.
“Wells Fargo Securities believes that it is not likely that FOX will renew Smackdown at a higher price and it is possible that we could see Smackdown split between FOX online and on stream, or the whole night move and probably increase to FOXA. WWE – US Rights Deal Economics,” Forbes’ Mike Ozanian tweeted.
Wells Fargo Securites believes that it is not likely that FOX will renew Smackdown at a higher price and we may see Smackdown split between FOX online and a broadcast, or the entire night move and likely increase to FOXA. WWE – Economics of the US Rights Deal https://t.co/vaSWD4aZUH
Vince McMahon is reportedly a “stumbling block” in WWE negotiations
Former CEO Vince McMahon stepped away from the company in July 2022 due to allegations of misconduct, but he wasn’t out for long.
Dave Meltzer of the Wrestling Observer Newsletter recently stated that McMahon’s involvement in media rights negotiations was seen as a stumbling block by some, and he could make the most money if a deal is reached.
“At this stage of the game, the belief is that McMahon’s presence is a hindrance and not a help in these negotiations, although as the largest shareholder, he is also the key beneficiary financially if the sale falls and for that reason is forced. way in that process, Dave Meltzer said. [H/T:WrestlingNews]
According to WSJ, Vince McMahon plans to return to the #WWE to seek the sale of the business after his retirement in 2022. https://t.co/bLz4zkL2xN
Since Vince McMahon’s departure as chief creative officer, Triple H has taken over as chief content officer. The Game has done important work in that regard, as WWE aims to make WrestleMania 39 one of the biggest in its history.
It remains to be seen if a successful WrestleMania will affect the potential price tag of any TV rights deal.
Do you think SmackDown will stay on Fox for years to come? Sound off in the comments section below.
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