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WWE Extends ‘Raw’ Rights Deal With NBCUniversal Through Q4; TKO Posts Solid Q1 Results and Raises Full-Year Financial Guidance
WWE has extended its rights deal for 'Raw' with NBCUniversal through year's end, parent company TKO disclosed as part of its solid Q1 earnings report.
TKO disclosed that it has reached a $25 million deal with NBCUniversal to allow WWE’s “Monday Night Raw” wrestling franchise to remain on USA Network through the end of this year. In March, TKO reached a $335 million settlement in a long-running antitrust battle with former UFC fighters, who accused the company of using illegal means to prevent them from working for other MMA leagues. However, TKO downscaled its guidance for free cash flow conversion — a key Wall Street metric for media and entertainment firms in a period of transition — to “in excess of 40%” rather than more than 50% as projected in February.
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