More information has come to light in the aftermath of the news that WWE NXT will move to the CW Network.
On November 7, WWE announced that NXT will move from USA Network to The CW Network in October 2024.
Per Deadline, NXT’s deal with The CW Network is for “more than the $15 million a year price tag of the current contract.” On the TKO earnings call on November 7, ASri Emanuel stated that the average annual value increase is 70%. (H/t Fightful)
Both network president Dennis Miller and WWE president Nick Khan commented on the move while speaking with Deadline. Miller noted that NXT was a perfect fit for The CW “thanks to its dynamic young talent featuring the hottest rising stars in the sport and exhilarating, unpredictable weekly event.” Meanwhile, Khan highlighted The CW’s moves in augmenting their live sports programming schedule and called the deal an exciting opportunity to expand NXT’s audience.
Details On WWE’s Talks With The CW Network
Sean Ross Sapp of Fightful (via Fightful Select) reports that WWE discussed the deal with The CW Network, and the talks began before the rumored agreement been NWA and CW. Sapp cited WWE sources who noted that things moved quickly, and they were very satisfied. The deal was said to be appeasing because of the significant rights fee increase it comes with, as well as the opportunity to reach a wider potential audience.
The exact number of the increase is unclear, but WWE sources stated that they see it as more like a 200% increase, given the various factors involved. Per Sapp, the plan is currently for NXT to stay on Tuesdays, but WWE and CW will have more conversations closer to the beginning of the deal. As Sapp noted, Mike Johnson of PWInsider had reported that the negotiations between WWE and CW were ongoing.
Johnson also noted that the hope is that NXT will be able to build new names and the brand itself into more of a self-standing product. He wrote that, internally, WWE would be open to running tapings out of the Performance Center “if the financials made sense”, but one source stated that they’re not at that point yet.
Additionally, NXT is expected to remain very similar to the way it is now, and WWE has been pleased with the show’s growth in viewership.
NXT Deal’s Impact On NWA
As previously reported by Haus of Wrestling, NWA had secured two television deals with the CW. Sapp cited NWA talent who were surprised by the NXT news. Per Sapp, sources within WWE do not expect the NWA’s deal with CW to happen now. Haus of Wrestling had reported that NWA was pushing for a reality series but it’s unclear if that is still on the table.
Johnson wrote that no one from NWA or CW confirmed the reported deal between the two sides. Per Johnson, “those within the NWA circles” shared that the WWE deal did not impact NWA’s talks with CW. Johnson wrote that those in the company were told that the conversations were not dead following the NXT deal.
WrestleZone will provide more information as it becomes available.
