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Netflix acquires streaming rights for WWE Raw; equity analyst initial take mixed

CREDIT PRE-MARKET

Pre-earnings news for Netflix {NFLX US Equity} - its up 2% in pre-market after announcing it acquired exclusive rights to programming WWE Raw & other shows in a $5b deal (over 10yrs) - terms disclosed by bbg reports not from company pressor. Equity analysts see it as it targeting growth in its ad-business - net impact seems mixed form analysts. WWE Raw currently has a deal with Comcast (for reported $265m/yr) that expires in Jan '25. Equities of WWE owner TKO Group {TKO US Equity} has taken the news well rising ~20% in pre-market, indicative it sees price point from Netflix (vs. past deals with Comcast & NBC) as positive. We don't see TKO issuing any public debt.

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