WWEs weekly NXT show is heading to The CW.
NXT, which serves as a showcase for WWEs developmental talent, currently airs on USA Network but will move to CW in October 2024 in a new five-year deal. A source close to the deal pegged the value of the deal to WWE at about $20 million-$25 million a year.
NXT will air weekly throughout the year on CW, marking the first time the show has aired on broadcast television since it launched its weekly format in 2012.
Between the new leadership and ownership, the economics of the deal and with their broadcast network now being in over 100 million homes, it became a no brainer to move NXT, one of our signature weekly shows, to the CW, said Nick Khan, president of WWE.
NXT is the brainchild of Paul Triple H Levesque, who now serves as WWEs chief content officer. The show is currently overseen by Shawn Michaels, himself a WWE Hall of Famer with a legendary in-ring career.
Since its launch, NXT has become an integral part of WWEs talent development process. According to WWE, almost 90% of the participants in last years WrestleMania were developed under the NXT banner. Current stars like Roman Reigns, Seth Rollins, Becky Lynch, Rhea Ripley, and Charlotte Flair all got their start in WWE via NXT.
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, said Dennis Miller, president of The CW Network. 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 WWEs fanbase is unmatched, and we are eager to grow that audience as WWE NXTs new home on broadcast television.
WWE recently merged with the UFC to form TKO Group Holdings, with both WWE and UFC falling under the Endeavor umbrella. Since then, WWE announced that the TV rights for SmackDown had been sold to NBCUniversals USA Network in a five-year, $1.4 billion deal. SmackDown currently airs on Fox but will be moving to USA Network in October 2024. SmackDown had previously aired on The CW as well, between 2006 and 2008, and on its predecessor UPN from 1999-2006. TKO Group delivered their first ever earnings report ahead of the NXT announcement.
There is still no word on the future of WWEs Monday Night Raw, which has aired on USA Network for most of its 30 year history, but is expected to move to a new home next year as well.
NXT is the latest live sports move that CW has made since the network was acquired by Nexstar. The CW also currently airs ACC football and basketball and LIV Golf, while programming like Inside the NFL and the NASCAR Xfinity series will be joining the lineup soon.