Bulletin
Investor Alert

London Markets Open in:

Jan. 25, 2021, 5:21 p.m. EST

NBC Sports shakeup: NHL, Nascar and Premier League to move to USA Network, WWE to be available on Peacock

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Comcast Corp. Cl A (CMCSA)
  • X
    World Wrestling Entertainment Inc. Cl A (WWE)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Weston Blasi

Comcast’s /zigman2/quotes/209472081/composite CMCSA -2.17% NBCUniversal is shutting down sport cable channel NBCSN by the end of 2021. The move was first reported by Sports Business Journal .

NBC Sports Chairman Pete Bevacqua in an internal staff memo said, “at the conclusion of 2021, we have decided that the best strategic next step for our Sports Group and the entire Company is to wind down NBCSN completely.”

See also:  Japan says reports of the Tokyo Olympics being canceled are ‘categorically untrue’

NBCUniversal will move much of its sports programming, which includes the National Hockey League, Nascar racing and English Premier League soccer, to USA Network.

“USA has been a top five cable entertainment brand for over twenty years by way of constantly broadening our slate and finding ways to excite our viewers through immersive storytelling and iconic personalities,” NBCU entertainment network chairman Frances Berwick said in a statement.  “We remain committed to original entertainment programming, and believe that high-profile live sports will complement USA’s broad premium scripted, unscripted and WWE slate, enabling us to engage our passionate, intersecting audiences more deeply and with greater urgency.”

See also:  Michigan legalizes sports betting — the state could generate $8 billion a year in sports bets, according to one analyst

Some of NBCSN’s programming will move to Peacock, NBC’s streaming platform, according to reports.

Coming soon to Peacock will be the World Wrestling Entertainment /zigman2/quotes/207109722/composite WWE -1.83% , which on Monday agreed to license its content to NBC. The deal is reportedly worth $1 billion over a 5-year period. Shares fell 1.1% in early trading on Monday, and are down 7% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.45%  has gained 16.6%.

NBCUniversal saw a third quarter revenue drop of 19% to $6.72 billion. NBC parent Comcast is set to report its fourth-quarter earnings on January 28.

/zigman2/quotes/209472081/composite
US : U.S.: Nasdaq
$ 52.24
-1.16 -2.17%
Volume: 22.60M
Feb. 25, 2021 4:00p
P/E Ratio
22.94
Dividend Yield
1.91%
Market Cap
$244.61 billion
Rev. per Employee
$616,452
loading...
/zigman2/quotes/207109722/composite
US : U.S.: NYSE
$ 48.90
-0.91 -1.83%
Volume: 1.57M
Feb. 25, 2021 4:00p
P/E Ratio
31.22
Dividend Yield
0.98%
Market Cap
$3.88 billion
Rev. per Employee
$1.08M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,829.34
-96.09 -2.45%
Volume: 2.92B
Feb. 25, 2021 5:19p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.