World Wrestling Entertainment Inc was sued on Tuesday by a smaller rival that accused it of violating federal antitrust law by monopolising the professional wrestling market.
The Mamaroneck, New York-based plaintiff said WWE's interference in 2021 caused Vice TV to end talks to air new MLW content, and led to a 40 per cent drop in ticket sales after Fox Corp's Tubi streaming service abandoned a licensing agreement the night before it was to be publicly announced. WWE's "pattern of predatory and exclusionary conduct" reduces competition and irreparably harms consumers by depriving them of content and keeping prices high, MLW said in its complaint filed in San Francisco federal court.
MLW said US television rights for two WWE programs, WWE Raw and WWE Smackdown, are worth US$470 million , while rights for MLW's most popular programme, Dynamite, are worth US$44 million.WWE shares closed Tuesday up 38 cents at US$51.54. They have risen nine per cent in the last year, while the Russell 1000, which includes WWE, is up 21 per cent.
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