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November 11, 2019 Observer Newsletter: Situation with WWE and Saudi Arabia, NXT invasion, more

One of the craziest few days in WWE history included a problem with getting talent out of Saudi Arabia after the Crown Jewel show, the best episode of Smackdown which could change the trajectory of the Wednesday night wars, and the company announcing a new deal with Saudi Arabia.

On 11/4 after the stock price reached an 18-month low of $53.16 per share leaving the company with a $4.182 billion price, the company announced an extension of its deal with Saudi Arabia to confirming two shows per year instead of the originally contracted one (the second these past two years being added) through the original conclusion of the deal in 2027. The company also announced that the Saudi General Entertainment Authority is continuing to work through completion of a new television deal in the Middle East region.

At press time, that announcement stopped the free-fall and it seemed to steady at $55.42 per share on 11/6, upping the value to $4.596 billion. Even at this price, forgetting about the Saudi deal and figuring in more declining network numbers, the value of the television deals makes this a low price based on expected profits over the next five years.

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