WWE's Saudi Arabia Announcement Was Likely to Calm Investor Concerns

— On November 4, WWE announced an extension of its contract with Saudi Arabia, confirming that they will continue forward with two shows per year and that the deal will run through 2027 as originally signed. WWE also announced that the Saudi General Entertainment Authority would continue to work through the completion of a new TV deal in the Middle East.

— According to the Wrestling Observer Newsletter, the announcement was likely released due to WWE’s slumping stock price and it seemed to work as the price stabilized to about $55 per share after hitting an 18-month low of $53.16. It appears as if investors and media were concerned about the TV deal falling apart, leading to the stock price being hit hard.

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