WWE SURGES ON REPORTS FOX WILL AIR ‘SMACKDOWN’

World Wrestling Entertainment Inc. shares reached a record high on reports 21st Century Fox Inc.’s Fox network will become the new home for SmackDown Live, one of the company’s signature shows. The wrestling brand agreed in principle to air the show on Fox, beginning in October 2019, ESPN reported on Monday. The program is currently aired by Comcast Corp.’s USA Network, which also broadcasts the WWE show Raw. The five-year deal is valued at more than US$1 billion, the Hollywood Reporter said. The transaction would represent a more than threefold increase over the terms paid by Comcast’s NBC Universal, the publication said. The stock climbed as much as 13 per cent to US$58.26, the highest level since it began trading in 1999.