TKO Group’s RAW a ‘great value’ on cost-per-viewer basis, says Guggenheim

Guggenheim tells investors that the firm’s initial takeaway from the announcement that NASCAR reached a new media rights deal with FOX (FOXA), NBC (CMCSA), Amazon (AMZN), and Warner Bros. Discovery (WBD) is positive, as even though NASCAR delivers 326M viewer hours compared to RAW at 269.4M, NASCAR is currently paid 212% more than RAW and the new contract implies a 315% premium. The firm made no change to its Buy rating on TKO Group (TKO) and says RAW remains a “great value” on a cost-per-viewer basis.