ESPN, WWE Reach Landmark Rights Agreement as ESPN Platforms Become Exclusive U.S. Domestic Home of All WWE Premium Live Events, Including WrestleMania, Starting in 2026

ESPN's Direct-to-Consumer Service to Stream All WWE Premium Live Events in their Entirety, Including WrestleMania, Royal Rumble, SummerSlam, Survivor Series, Money in the Bank and More

BRISTOL, Conn. and STAMFORD, Conn. (August 6, 2025) - ESPN, a subsidiary of The Walt Disney Company (NYSE: DIS), and WWE, part of TKO Group Holdings, Inc. (NYSE: TKO), today announced a landmark rights agreement as ESPN platforms, including the new ESPN direct-to-consumer streaming service, will become the exclusive U.S. domestic home of all WWE Premium Live Events (PLEs), including the two-night cultural phenomenon WrestleMania, starting in 2026. This deal makes ESPN home to the highest-profile WWE events of the year.

The ESPN DTC service will stream all WWE PLEs annually, in their entirety, with select simulcasting on ESPN linear platforms. Marquee PLEs include WrestleMania and SummerSlam - both two-night events - and Royal Rumble, Survivor Series, Money in the Bank, among others. WWE will continue to produce all PLEs.

Jimmy Pitaro, Chairman, ESPN: "WWE has an immense, devoted and passionate fanbase that we're excited to super-serve on our new ESPN DTC platform. This agreement, which features the most-significant WWE events of the year, bolsters our unprecedented content portfolio and helps drive our streaming future."

Mark Shapiro, President and Chief Operating Officer, TKO: "We are proud to reinforce the 'E' in ESPN at such an exciting juncture in its direct-to-consumer journey. WWE Premium Live Events are renowned for exactly the type of rich storytelling, incredible feats of athleticism and can't-miss, cultural tentpole experiences that have become synonymous with ESPN. Through our UFC relationship, we have experienced firsthand how transformational an ESPN presence can be, and we know this will be an exceptional partnership at a time of great innovation for both companies."

Nick Khan, President, WWE: "WWE's agreement with ESPN is a pivotal moment for our millions of fans across the United States: the leader in sports entertainment partnering with the biggest brand in sports media. Bringing WWE's flagship events to ESPN's platform is tremendously exciting. We know the sky is the limit."

ESPN platforms, including its DTC service, will have the opportunity to stream WWE's pre-and post-event shows tied to all Premium Live Events.

All of ESPN. All in One Place. Coming Soon.

For the first time ever, ESPN will offer its full suite of networks and services directly to fans, along with an enhanced ESPN App that integrates game stats, betting information, fantasy sports, commerce, multiview options and a personalized SportsCenter For You. Designed to give fans more choice, flexibility and access to all of ESPN, these new features and functionality will be available to all fans who watch on the ESPN App on mobile and connected TV devices, whether they subscribe directly or through a traditional pay TV package. For more visit the ESPN DTC Press Kit.

About WWE

WWE(R) is the global leader in sports entertainment. The company creates and delivers original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE's TV-PG programming can be seen in more than 1 billion households worldwide in more than 20 languages through world-class distribution partners including NBCUniversal, The CW and Netflix. In the United States, NBCUniversal's streaming service, Peacock, is currently the exclusive home to all premium live events, a variety of original programming and a massive video-on-demand library. Netflix is the exclusive home for WWE programming around the world, other than select international markets. WWE is part of TKO Group Holdings (NYSE: TKO).

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Forward-Looking Statements

TKO

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. TKO and WWE intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including the expected benefits from the agreement between WWE and ESPN. The words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "target," and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from what is expressed or implied by the forward-looking statements, including, but not limited to those factors discussed in Part I, Item 1A "Risk Factors" in TKO's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as any such factors may be updated from time to time in the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov and TKO's Investor Relations site at investor.tkogrp.com. Forward-looking statements speak only as of the date they are made and, except as may be required under applicable law, TKO and WWE undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The Walt Disney Company

The terms "Company," "we," and "our" below are used to refer collectively to The Walt Disney Company and the subsidiaries through which our various businesses are actually conducted.

Certain statements on this press release may constitute "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations, beliefs, financial prospects or outlook; business plans and opportunities; content and benefits of future offerings; consumer sentiment and acceptance; and other statements that are not historical in nature. Any information that is not historical in nature is subject to change. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company or the discovery of additional information, as well as from developments beyond the Company's control consumer preferences and product acceptance. Additional factors are set forth in the Company's most recent Annual Report on Form 10-K, quarterly reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.