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STAMFORD, Conn. (AP) - World Wrestling Entertainment Inc. has reached a three-year agreement with NBC Universal Inc. that will return its "WWE Raw" cable program to USA Network in October, company officials said Monday.
The deal resolves a major issue for the Stamford-based producer of televised wrestling matches. "Raw," which is regularly among the most popular cable programs, needed to find a new home after Spike TV decided not to extend its contract with WWE that ends in September.
But WWE will lose about $13 million in net income, or $37 million in revenue, as a result of lost advertising under the new deal, the company said in a filing with the Securities and Exchange Commission.
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