WWE Stock Rises on India Expansion

Shares Up 8% as OTT Net Moves to Sub-Continent
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 Shares of World Wrestling Entertainment soared more than 8% ($1.58 each) after the scripted sports giant announced it was expanding its over-the-top offering WWE Network into India.

WWE shares were closed at $20.82 per share on Friday after noon, up 8.2% on the news.

Beginning on Nov. 2, customers in India will be able to watch the networks on their desktop, laptop and mobile devices for $9.99 per month. The first month of service is free, WWE added, and customers will get access to 24/7 scheduled programming, 3,700 hours of on-demand content and every WWE, WCW and ECW pay-per view event. In addition, all 12 WWE pay-per-view events will be available to subscribers 24 hours after they air in India, and will be broadcast live on WWE Network beginning in 2017.

“India is a strategically important market for WWE and we are thrilled to make WWE Network available to our fans there,” WWE chief strategy officer and chief financial officer George Barrios said in a statement. “The global expansion of WWE Network is a key driver in our commitment to growing the WWE brand internationally.”

WWE Network will be made available on additional devices, including Apple TV, Amazon Fire TV, Sony PlayStation 3, Sony PlayStation 4, Xbox One, Xbox 360, Roku and Smart TVs prior to Survivor Series on Nov. 22.

WWE Network will also be available in other countries in the Indian subcontinent including Pakistan, Bangladesh, Sri Lanka and Nepal.

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