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ESPN and WWE step into the ring with reported $1.6 billion, five-year streaming deal

WWE’s 10 biggest live events are poised to join ESPN’s new streaming platform next year.

8/6/25 9:48AM

ESPN is not content with being the worldwide leader in sports, and also wants to be among the most electrifying names in sports entertainment.

The Disney-owned sports network is teaming up with WWE in a reported five-year, $1.6 billion deal to stream 10 of the wrestling giant’s biggest events, including WrestleMania, Royal Rumble, and SummerSlam. Terms of the agreement were reported by The Wall Street Journal.

For context: that would be 80% above what Peacock reportedly paid, $180 million per year, for the same package in a previous deal. The partnership kicks off in 2026 and will bring WWE’s premium events to ESPN’s $29.99 per month direct-to-consumer platform, with some events simulcast on cable.

“In many ways, this is our destiny,” TKO CEO Mark Shapiro said in a CNBC interview. “If you want to expand the audience, our fan base, the fervor around WWE, and grow on a real significant national scale, you can’t do that as it relates to the sports world without partnering with ESPN.”

ESPN has been bulking up ahead of its streaming service launch. Yesterday, it announced a deal to acquire the NFL Network, RedZone rights, and other league-owned media assets in exchange for a 10% equity stake going to the NFL.

Disney is clearly trying to pump some muscle into ESPN after the sports giant eked out just 1% revenue growth last quarter.

Shares of TKO, which owns WWE, fell 2% on the news. Disney, which reported earnings Wednesday morning, also fell about 3%.

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Report: OpenAI won’t pay a dime in cash for its 3-year licensing deal for Disney IP

More financial details behind the landmark deal that will grant OpenAI three years of access to Disney intellectual property are coming out, and they’re pretty surprising.

The deal will reportedly see OpenAI pay zero dollars in licensing fees, instead compensating Disney in stock warrants. It was previously reported that Disney would invest $1 billion into OpenAI as part of the agreement.

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

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Ford says it will take $19.5 billion in charges in a massive EV write-down

The EV business has marked a long stretch of losing for Ford, and today the automaker announced it will take $19.5 billion in charges tied, for the most part, to its EV division.

Ford said it’s launching a battery energy storage business, leveraging battery plants in Kentucky and Michigan to “provide solutions for energy infrastructure and growing data center demand.”

According to Ford, the changes will drive Ford’s electrified division to profitability by 2029. The company will stop making its electric F-150, the Lightning, and instead shift to an “extended-range electric vehicle” that includes a gas-powered generator.

The Detroit automaker also raised its adjusted earnings before interest and taxes outlook to “about $7 billion” from a range of $6 billion to $6.5 billion.

Ford’s write-down is one of the largest taken by a company as legacy automakers scale back on EVs, giving EV-only automakers a market share boost.