WWE’s NXT will have a new home with big reach next year.
WWE and The CW agreed to a five-year deal for the weekly episodic developmental wrestling brand, the companies jointly announced Tuesday.
Terms of the deal were not immediately available, but a source told The Post it was a “massive increase” in the rights fee that USA Network was previously allocating for NXT.
NXT will begin airing on The CW 52 weeks a year in October of 2024.
“Between the new leadership and ownership, the economics of the deal and with their broadcast network now being in over 100 million homes, it becomes a no-brainer to move NXT, one of our signature weekly shows, to The CW,” WWE president Nick Khan said.
USA Network started airing NXT in 2019; it had previously run on WWE Network, the company’s OTT network that also aired the Premium Live Events that are now on Peacock.
The CW, since being acquired by Nexstar last year, has been steadily increasing its sports portfolio.
The network has ACC football and basketball, LIV Golf, “Inside the NFL” and beginning in 2025 will air the NASCAR Xfinity Series.
“We are thrilled to welcome the WWE brand into the CW Sports portfolio as they play an integral role in our mission to bring live sporting events to the network year-round,” CW Network president Dennis Miller said in a statement. “WWE NXT is a perfect fit for The CW thanks to its dynamic young talent featuring the hottest rising stars in the sport and exhilarating, unpredictable weekly events. The passion and engagement of WWE’s fanbase is unmatched, and we are eager to grow that audience as WWE NXT’s new home on broadcast television.”
The move will help NXT’s reach, as The CW is in the aforementioned 100 million homes whereas USA Network is in about 75 million.
NXT is a unique situation, where it runs as its own standalone brand but the nominal purpose is to develop performers for WWE’s main roster.
A number of WWE’s main-roster stars came through NXT, including Roman Reigns, Seth Rollins, Kevin Owens, Sami Zayn, Gunther, Charlotte Flair, Becky Lynch, Bayley and Bianca Belair.
WWE regularly sends main-roster stars into NXT to help amplify the profiles of the younger talents, and also sometimes to give some of their regular performers a bit of a refresh, as in some cases their absence from the main roster can make fans’ hearts grow fonder when they return.
NXT was for many years the baby of Paul “Triple H” Levesque; with Triple H now running WWE’s creative, his longtime friend and former onscreen D-Generation X stablemate Shawn Michaels oversees NXT.
Earlier this year, WWE merged with UFC to form the new company TKO under the Endeavor umbrella.
NXT’s deal with The CW is the second of three major WWE rights contracts to close with a new network with the rights expiring next year.
The company recently announced that “SmackDown” is moving from Fox to USA Network next year.
“Raw,” which currently airs on USA, is expected to have a new home announced early next year.
WWE also recently announced the new reality series, “Love & WWE: Bianca & Montez” with the married couple of Belair and Montez Ford, will air on Hulu.
A source said WWE also continues to explore the possibility of creating scripted fictional entertainment programming for TV and streaming platforms.
WWE is undertaking a number of initiatives beyond rights fees to boost revenue, from focusing on sponsorship initiatives to nailing down “site fees” for premium live events domestically and internationally.
WWE recently announced Elimination Chamber will be held in Perth, Australia on Feb. 24, 2024.
A source told The Post that WWE received a site fee worth $6.4 million ($10 million Australian dollars) for the event.
WWE also announced it will hold the “Bash in Berlin” Premium Live Event in Berlin, Germany on Aug. 31, 2024.