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Turner Sports Is Getting Back Into The Wrestling Ring

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Turner Sports Is Getting Back Into The Wrestling Ring

For the first time since World Wrestling Entertainment, Inc. (NYSE: WWE) purchased World Championship Wrestling back in 2001, we'll once again have a new competitor on a Turner network.

What To Know

All Elite Wrestling (AEW) is reportedly planning to announce a new cable TV deal with Turner and parent company AT&T, Inc. (NYSE: T) to air original professional wrestling content weekly on TNT starting this fall, according to The Wrap.

The report said the TV deal with Turner is “virtually done,” and and the two companies are prepping an official announcement prior to WarnerMedia’s upfront event on April 15.

AEW was co-founded by former WWE performer Cody Rhodes and professional wrestlers Matt and Nick Jackson, who perform as The Young Bucks. The company is backed financially by Jacksonville Jaguars owner Shahid Khan.

Update: On May 15, TNT confirmed this report:

Why It's Important

The organization has already made a big splash signing former WWE talents such as Chris Jericho and Neville as well as top independent performers Kenny Omega and The Lucha Brothers.

AEW’s first official pay-per-view event, Double or Nothing, is scheduled for May 25 in Las Vegas.

WWE investors will be watching for details on the Turner deal.

WWE has reportedly come under fire from both Comcast Corporation (NASDAQ: CMCSA) subsidiary NBC and Fox Corp (NASDAQ: FOXA) (NASDAQ: FOXB) due to slumping TV ratings. WWE has been airing its weekly “Raw” and “SmackDown” shows on NBC’s USA Network, but “SmackDown” will be moving from Tuesdays to Fridays on Fox starting this fall. Some fans have speculated AEW may target the open “SmackDown” time slot on Tuesdays to air its new show.

Related Links:

Bruised And Battered, But Not Broken: Wall Street Reacts To WWE's Earnings Miss

JPMorgan Raises WWE's Price Target, Bullish On 'Smackdown' Future

Photo credit: Mike Kalasnik, Flickr

Posted-In: All Elite Wrestling Shahid Khan The WrapNews Rumors Sports Media General Best of Benzinga

 

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