TKO Stock Plummets After WWE ‘Smackdown’ Leaves Fox For USA Network In Massive 5-Year Deal
Topline TKO’s stock dropped more than 12% in intraday trading Thursday after the [announcement](https://investor.tkogrp.com/news/news-details/2023/SmackDown-Returns-to-USA-Network-as-Part-of-Five-Year-Agreement-Between-WWE-and-NBCUniversal/default.aspx) of a five-year domestic media rights partnership between the company and NBCUniversal that will return the Smackdown wrestling show to USA Network starting in October 2024. Key Facts Shares of TKO dropped after the announcement of the deal, which is valued
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