The original intention of the WWE Network was always to get off of Cable TV entirely and, as such, they can make whenever claims they want in contract negotiations. The moment that they don't have a contract they simply move to phase 2 of the network plan, which is just to catch up Raw/Smackdown to live on the Network (which is what, 4/5 shows tops to be completely up to date) and then launch a weekly highlight show to be shown on YouTube/Netflix and Network TV. Live YouTube "lite-PPVs" are also something that might be under consideration for the future.
WWE do not make that much money from the Cable companies any more. YouTube, WWE Network and merchandising accounts for far more of their income. The only actual long term problem they have is with their stars having the brand identity to keep people tuning in.
But that's why they want to hit more active markets. If every Monday/Tuesday WWE is the top link, promoted right at the top of YouTube for 5 hours a week, you're probably going to give it a click at some point. They will be more popular than ever using this system.
The TV deals are their biggest source of income. Without them they would actually lose money.