2023-11-07 17:37:08 ET
TKO Group's ( NYSE: TKO ) World Wrestling Entertainment (WWE) on Tuesday said it had inked a five-year broadcast television deal for its weekly showcase for amateur wrestlers WWE NXT with Nexstar Media's ( NASDAQ: NXST ) CW Network.
WWE NXT will debut on the CW Network in October next year and will air 52 live weekly events throughout the season.
"The five-year agreement marks the first time in its 13-year history that WWE NXT – which showcases WWE’s hottest up-and-coming Superstars – will air on a broadcast television network," WWE said in a statement .
WWE NXT's move follows that of professional wrestling tournament WWE Friday Night SmackDown, which agreed to a five-year agreement with NBCUniversal's ( CMCSA ) USA Network in September.
WWE NXT was launched in 2012 by WWE's chief content officer and former wrestler Paul Levesque, who was known by the stage name "Triple H." Under the guidance of mentors from WWE Raw and SmackDown, WWE NXT features up-and-coming wrestlers.
"Nearly 90% of the participants in last year’s WrestleMania were developed under the NXT banner. Led by WWE Hall of Famer Shawn Michaels, NXT is popular with younger audiences, ranking No. 1 in cable primetime on Tuesday nights last quarter among adults 18-49 and 18-34," WWE said.
TKO Group ( TKO ) separately announced its Q3 results.
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For further details see:
WWE NXT to move to the CW Network starting October 2024