TKO Holding Stock Price Takes Huge Hit Following WWE SmackDown’s Move Announcement

WWE and UFC’s deal was finalized just last week, as the companies were featured in front of The New York Stock Exchange. Due to this, fans expected a lot of changes to take place and that’s exactly what happened. Smackdown will be moving to the USA Network next year and now it appears the TKO Holding Group’s stock price has suffered as a result.

For a very long time now, there were talks of Fox distancing itself from WWE after revealing the annual losses it suffered as a result of its multi-year deal for Smackdown. This led to a lot of uncertainty for Friday Night Smackdown’s future, but fans finally know what will happen to the show.

As previously reported, SmackDown is going back to USA Network after signing a five-year deal with the network. It is slated to begin in 2024 and fans wonder whether it will benefit the company.

This news has now led to a stock price drop for the TKO Group. At the time of writing, the price is at $85.70 per share. This is huge a drop from when it opened today at $100.87.

In spite of the loss, WWE’s fees for Friday Night Smackdown went up nearly 40% with their USA Network deal. We will have to wait and see whether Smackdown will prosper after returning to the USA Network next year.

What’s your opinion on TKO Holding suffering such a drop in stock? Do you think USA Network will be the best option for Smackdown? Let us know in the comments!