WWE Stock Soars After FOX Deal, Reaches Record High

Up up and away. WWE’s record of talking about mainstream news is hit and miss at best. Sometimes something will happen and it becomes a topic of conversation on the shows and other times something will happen and it’s never mentioned. When something good happens to WWE though, you know full well that it’s going to be a featured topic on their television shows for a very long time. Given yesterday’s major news about SmackDown, there’s no surprise that it was a big deal.

Yesterday, it was announced that FOX would be purchasing the broadcasting rights to SmackDown Live in a deal that could bring WWE over a billion dollars over the next five years. As a result, according to Marketwatch.com, the company’s stock soared 12.5% on Monday, bringing them to a record high of $58.30 a share. This continues a very lucrative year for the company, whose stock is up 194% in the last twelve month period.

They could all be Ted DiBiase at this point. Remember this gem?

WWE Hall of Fame: "Million Dollar Man" Ted DiBiase pays his

Opinion: Sweet goodness that’s a lot of money. WWE has gone through the roof financially and that should be a good thing for years to come. While the on-screen product doesn’t seem to be mattering as much, it’s very nice to see the company have this kind of success (especially if you own some stock). I have no idea how long this is going to last, but at least it’s lasting for now and that’s what matters the most. If they can get there once, they can get there again and that gives them something to shoot for.

Are you surprised the stock went this high? How high will it go? Let us know in the comments below.

Thomas Hall has been a wrestling fan for over thirty years and has seen over 50,000 wrestling matches. He has also been a wrestling reviewer since 2009 with over 5,000 full shows covered. You can find his work at kbwrestlingreviews.com, or check out his Amazon author page with 26 wrestling books. His latest book is the WWE Grab Bag.

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