World Wrestling Entertainment Inc. (WWE) said Monday it has agreed to license its content to NBC Universal's new streaming service Peacock, which will become the sole distributor of its content in the U.S. The company said it expects to report record operating profit of $209 million for 2020, despite the challenging environment created by the coronavirus pandemic. "Management expects restrictions related to the spread of COVID-19, particularly related to the cancellation, postponement or reduced capacity of ticketed live events, to continue at least through the first half of 2021," the company said in a statement. "Additionally, management anticipates a significant year-over-year increase in WWE's expense base due to the full return of employees from furlough and continued higher expenses associated with the production of its weekly Raw and SmackDown television content at the WWE ThunderDome from its stadium residence at Tropicana Field." Shares rose 2.6% premarket, but are down 7% in the last 12 months, while the S&P 500 has gained 16.6%.
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