New York (CNN Business) Shares of World Wrestling Entertainment plunged more than 15% after the sports entertainment company reported sales that missed forecasts and lowered its profit outlook. The company attributed the weaker forecast to its inability to sign a new TV deal in the Middle East.

WWE WWE Fox FOXA Comcast CMCSA stock has been a major loser on Wall Street this year, tumbling about 25% despite splashy new TV deals in the US withand

That's mainly because of lingering worries about the company's international TV contracts. Several are due for renewal, including ones in the Middle East and India.

Investors are also waiting for WWE to provide guidance about two other recently signed international TV deals — a new partnership in the United Kingdom with BT Sport that begins in January 2020, and the extension of an existing deal with Fox Sports in Latin America. Terms have not yet been disclosed.

The company's inability to strike a deal in the Middle East is particularly troublesome, because WWE has made a concerted effort to boost its presence in that market.

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