WWE is entering an incredibly important time in the promotion’s history as media rights fees are up for negotiation. However, recent reports suggest that the SmackDown brand may not be getting renewed by Fox at an increased fee.
SmackDown currently airs on Fox Network, but television rights are up for negotiations this year for broadcasts starting September 2024. Vince McMahon returned to the company in January and was unanimously elected as Executive Chairman of the Board. Many felt that the former CEO’s return was to help with upcoming media rights negotiations, but that may not turn out to be case.
Wrestling Inc.’s David Bixenspan noted a recent screenshot posted by Forbes Media Assistant Managing Editor and Forbes SportsMoney Managing Editor and co-host Mike Ozanian. The screenshot originated from a presentation by Wells Fargo Securities analysts about WWE’s upcoming negotiations.
Mike Ozanian noted that Wells Fargo Securities does not believe Fox will be willing to do a new deal at an increased rate over the current $205 million a year. He suggested that the network may want to split SmackDown with a streaming partner, or the blue brand could leave its current spot on Fox.
“Wells Fargo Securities thinks FOX is not likely to renew Smackdown at higher price and it’s possible we could see Smackdown split between FOX in linear and a streamer, or the entire night move off and likely accretive to FOXA. WWE – U.S. Rights Deal Economics,” tweeted Forbes’ Mike Ozanian.
Wells Fargo Securites thinks FOX is not likely to renew Smackdown at higher price and it’s possible we could see Smackdown split between FOX in linear and a streamer, or the entire night move off and likely accretive to FOXA. WWE – U.S. Rights Deal Economics https://t.co/vaSWD4aZUH
Vince McMahon reportedly a “hindrance” in WWE negotiations
Former CEO Vince McMahon stepped away from the company in July 2022 due to misconduct allegations but was not away for too long.
Dave Meltzer of the Wrestling Observer Newsletter recently stated that McMahon’s involvement in media rights negotiations was seen as a hindrance to some, and he stands to make the most money if a deal goes through.
“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 stockholder, he is also the key beneficiary financially if and when the sale goes down and for that reason forced his way into that process, said Dave Meltzer. [H/T:WrestlingNews]
As per WSJ, Vince McMahon plans to return to the #WWE to pursue the sale of the business after his 2022 retirement. https://t.co/bLz4zkL2xN
Since Vince McMahon’s departure as creative head, Triple H has taken charge as the Chief Content Officer. The Game has done a significant job in that regard, as WWE aims to make WrestleMania 39 one of the biggest in its history.
It remains to be seen whether a successful WrestleMania will impact the potential price of any TV rights negotiations.
Do you think SmackDown will remain on Fox for years to come? Sound off in the comments section below.
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