NEW YORK (MarketWatch) -- World Wrestling Entertainment Inc. WWE, -1.39% shares tumbled more than 40% in premarket trade Friday on concerns about the company's new long-term television agreement with Comcast's NBCUniversal. WWE announced the deal late Thursday after months of talks without disclosing financial terms. But analysts at Benchmark downgraded the stock to hold from buy and said they estimate that NBCu negotiated a 50% increase on the company's domestic TV rights fees. "The company's valuation could take a heavy beating this morning, as the new domestic TV deal with NBCu likely disappointed investors over limited visibility / believability on the ultimate success of the Network," Benchmark said in a note.