WWE plunges as new TV deal with NBCUniversal announced

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World Wrestling Entertainment (WWE_) shares fell after the company clinched an agreement with NBCUniversal to bring its popular wrestling shows, Raw and Smackdown, back to the NBC family.

Raw goes back to the USA Network, while Smackdown will run on Syfy. In a press conference at NBC’s Upfront presentation, WWE executive Paul “Triple H” Levesque made the announcement, noting that both raw and Smackdown will be returning in a multi-year strategic partnership.Financial terms of the deal were not disclosed.

Shares of WWE were falling in after-hours trading, losing 8.5% to $18.25.

Source: WWE Plunges As New Television Deal with NBCUniversal Announced – TheStreet.

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