Topline TKO’s stock dropped more than 12% in intraday trading Thursday after the announcement of a five-year domestic media rights partnership between the company and NBCUniversal that will return the Smackdown wrestling show to USA Network starting in October 2024. TKO went public on September 12. (Photo by Michelle Farsi/Zuffa LLC)Zuffa LLC Key Facts Shares of TKO dropped after the announcement of the deal, which is valued at more than $1.4 billion, averaging about $287 million per year, according to CNBC. The stock, which slumped as low as $84.86 per share Thursday, was trading around $104 throughout the week. TKO went public a little more than one week ago, sporting a $102 opening share price as the merger between World Wrestling Entertainment and Endeavor’s Ultimate F… Click below to read the full story from Forbes
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