The streaming service of media giant MBC, in which the Saudi government owns a majority stake, will offer the sports entertainment powerhouse's big live events, starting with WrestleMania 38, key weekly shows and the WWE Network's programming library.
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Financial and other terms of the long-awaited MENA deal weren’t disclosed. WWE had a distribution agreement for the region with pay TV giant OSN until 2019, but a new arrangement kept getting delayed. “We do believe that if a deal is ultimately signed , it could be worth low tens of millions of dollars on an annualized basis ,” Guggenheim analyst Curry Baker wrote in a November report.
“MBC Group is a market leader in the region and a great partner for WWE,” WWE president Nick Khan said on Wednesday. “By delivering our premium live events, including WrestleMania and SummerSlam, our weekly programming, including, as well as WWE’s massive library, we believe we will expand our reach throughout the Middle East and North Africa.”
Natasha Hemingway, chief commercial and marketing officer at Shahid, added: “It’s no secret that WWE is massively popular in Saudi Arabia and the rest of the MENA region. This new partnership is sure to be incredibly exciting for fans, and with more and more live sporting events – including WWE – coming to the Kingdom, we cannot wait to see where this partnership takes us.”
In addition to the weekly programming, Shahid will launch a dedicated WWE channel, “making the entire WWE Network archive — more than 10,000 hours of content — available to stream on demand,” the partners said. “The new WWE destination on Shahid will allow fans to browse and access the entire library, including MBC Group, headquartered in Dubai, operates Shahid, TV networks and production arm MBC Studios, among other businesses.
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