Overview

• TKO executives confirmed in a Q2 earnings call that WWE opted for ESPN’s brand reach and direct-to-consumer strategy over a slightly higher fee from an unnamed suitor.
• Mark Shapiro said the inaugural ESPN PLE will be staged to mirror the feel of the Super Bowl, coinciding with ESPN’s first NFL championship broadcast on the network in 2026.
• WWE retains rights to its content archives and gains fresh opportunities for further monetization alongside the six annual PLEs.
• Financial terms include a five-year contract with annual escalators designed to provide high-margin revenue and long-term visibility.
• Netflix did not submit any bid for the PLE rights, underscoring WWE’s commitment to ESPN’s upcoming standalone streaming platform.