WWE chairman Vince McMahon said Monday he was "disappointed" in the new deal with NBC Universal that will keep the wrestling network's popular "Raw" and "Smackdown" programs on USA Network and Syfy.
WWE shares tumbled 42 percent to around $11.51 mid-afternoon on Friday after the announcement of the new NBC Universal deal, according to Variety
. The company released a statement remarking that the licensing fee it would get from the new network deal would not double its previous pact, which analysts predicted it would.
"We were a little disappointed with our NBCU deal," McMahon told analysts in a conference call Monday. "Whether we failed or not, I’m not certain."
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McMahon himself reportedly lost an estimated $357 million in the single-day stock sell-off, Variety noted.
Other than that, details of the new deal have not yet been made public.
"[The new NBC Universal contact] is still a good deal but not what we wanted," McMahon said on the conference call. "Internationally, we did better than we did domestically."
In its own statement, the WWE appeared satisfied with the deal.
"The company estimates that it will increase the average annual value of these key television agreements to approximately $200 million, representing an increase of more than $90 million, that is nearly three times the increase achieved in the previous round of negotiations," the statement read.
Bonnie Hammer, NBC Universal cable chairman, while not releasing any details, said in a statement that her company was also happy in retaining WWE, according to The Street.com
"USA Network President Chris McCumber, Syfy President Dave Howe, and I are incredibly pleased to renew this strategic partnership with WWE," Hammer said. "In today's TV landscape, live event programming is an extraordinarily valuable asset, and WWE remains the only entertainment franchise that consistently delivers this on a 52-week a year basis."
"We look forward to bringing WWE's action-packed and unique brand of drama to the wide audiences across our cable networks for many years to come," she continued.
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