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☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Saúl ‘Canelo’ Álvarez: Mexican boxer puts undisputed world title on the line against compatriot Jaime Munguía
▼ + stars: | 2024-05-01 | by ( Jonny Velasquez | Gonzalo Alvarado | ) edition.cnn.com time to read: +5 min

Álvarez is putting all four of his super middleweight belts on the line as he takes on Munguía. After the fight, Munguía said it would be an “honor” to fight his compatriot Álvarez, who is still one of the biggest names in boxing. Patrick T. Fallon/AFP/Getty ImagesThe Oscar De La Hoya factorFormer boxing great Oscar De La Hoya is Munguía’s promoter. “Let me give you exactly what happened, why he is so mad at me,” De La Hoya said. At age 20, the American became the youngest super middleweight title holder in the history of the sport.

Persons: Álvarez, Jaime Munguía, it’s, ” Álvarez, ”, Russian Dmitry Bivol, Julio César Chávez, “, Katelyn Mulcahy, John Ryder, Munguía, Charlo, Dmitry Bivol, Patrick T, Fallon, De, Oscar De La, Eddie Hearn, I’ve, Hearn, De La Hoya, FightHype, ” De, ” De La Hoya, Eddie Reynosa, Ryder, Hector Vivas, David Benavidez, Floyd Mayweather Jr, ” Mayweather Jr, Español Organizations: CNN, Cinco de Mayo, WBC, WBA, WBO, IBF, Beverly Hills Hotel, Getty, Briton, Mobile, Boxing YouTube, De La, De La Hoya, Munguía, boxing’s Locations: France, Puebla, Las Vegas, Russian, Beverly, Tijuana , Mexico, Las Vegas , Nevada, AFP, Hoya, De La Hoya, Oscar De La Hoya, ”, ” De La, American

☆ Netflix blows past earnings estimates as subscribers jump 16%
▼ + stars: | 2024-04-18 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected. However, the quarter marks one of the last glimpses investors will get of the company's subscriber base going forward. The company posted revenue of $9.37 billion for the quarter, up from $8.16 billion in the year-ago quarter. Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform. As of Thursday morning, the company's stock was up 27% year to date and around 85% over the last 12 months.

Persons: we've, we're, Ted Sarandos, Jake Paul, Mike Tyson Organizations: Netflix, LSEG Revenue, LSEG, TKO, Holdings, WWE

WWE and its parent company, TKO, have said that they take Grant's allegations "very seriously." Staying in touchMcMahon has also talked to Trump, according to two of the people close to the wrestling impresario. The two billionaires have been in touch regularly, according to a person close to McMahon, although it isn't clear what they've discussed. Another person close to McMahon said that the two men don't discuss their legal problems and that Trump doesn't provide legal advice. Publicly, Johnson has thanked TKO and WWE executives regarding his addition to the TKO board earlier this year.

Persons: Vince McMahon, Donald Trump, Mark, McMahon, Janel Grant, he's, hasn't, Mark Shapiro, doesn't, McMahon hasn't, Paul, Levesque, Stephanie McMahon, wasn't, Jessica Rosenberg, Grant's, Jan, John Laurinaitis, Janel, couldn't, Ann Callis, Grant, Nicholas Biase, Linda McMahon, McMahon's, Bill Pugliano, Donald J, Trump, Dwayne, Johnson, John Cena, Cena, Howard Stern, I'm, William Morris, Cena didn't, Endeavor Group's, Ari Emanuel, Brendan Mcdermid Organizations: WWE, Austin Straubel, Getty, World Wrestling, NBC News, CNBC, Triple, Federal, U.S, Attorney's, Southern, of, Trump, WWE Hall of Fame, PAC, Trump Media, Technology Group, Street Journal, Trump Foundation, Hollywood, William, William Morris Endeavor, Endeavor Group, Endeavor, Endeavor Group's UFC, Longtime Hollywood, New York Stock Exchange Locations: Green Bay , Wisconsin, United States, Caicos, Italy, of New York, Connecticut, Manhattan, Atlantic City, Trump's, York, New York City, U.S

☆ Private equity firm Silver Lake to take entertainment company Endeavor private at $27.50 a share
▼ + stars: | 2024-04-02 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +2 min

Private equity firm Silver Lake announced Tuesday that it's acquiring entertainment company Endeavor Group Holdings for $27.50 a share. Endeavor is being acquired at an equity value of $13 billion, according to a release from the entertainment company. Endeavor is also the majority owner of TKO Group Holdings , which owns the UFC and WWE. Silver Lake initially invested in Endeavor in 2012 and supported the company's acquisition of UFC in 2016. Silverlake's co-CEO Egon Durban and managing director Stephen Evans were members of Endeavor's board ahead of the acquisition.

Persons: Silver Lake, Egon Durban, Ariel Emanuel, Silver, Silverlake's, Stephen Evans Organizations: Silver Lake, Endeavor Group Holdings, Endeavor, Silver, WME, IMG Academy, Holdings, UFC, WWE

☆ How WME trains its future agents to nurture the next A-list client like Selena Gomez or Ryan Coogler
▼ + stars: | 2024-03-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

Read previewAt the talent agency WME, top agents work to nurture the careers of A-list stars like Selena Gomez and Ryan Coogler. AdvertisementTrainees learn from WME clients like Rachel Maddow. At the end of each year, there's a fireside chat with Mark Shapiro, president and COO of WME parent Endeavor and TKO, who's been joined by WME clients Rachel Maddow and Robin Roberts. AdvertisementThe program helped lead to a TV show dealTrainees presented a business plan for WME client Christina "Tinx" Najjar. (The trainee program is separate from WME's highly competitive mailroom program that trains recent college grads to become agent assistants.)

Persons: —, Selena Gomez, Ryan Coogler, Marc Korman, Rachel Maddow, Nathan Congleton, Mike Simpson, Quentin Tarantino, there's, Mark Shapiro, who's, Robin Roberts, Justin Timberlake, Korman, Christina, Tinx, Dia Dipasupil, William Morris, Anna DeRoy, Talitha Garrett, WME's, Garrett, DeRoy, WME, It's, Ari, Ari Emanuel, COVID, they'll, Nat Wyatt, Maddow, Sunny Hostin, Wyatt, they're, Olivia Rodrigo Organizations: Service, Business, Getty, Endeavor, HBO Locations: NBCU, Silicon, Nashville

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Apple, Rivian, Micron, Microsoft, Eli Lilly, Amazon & more
▼ + stars: | 2024-03-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Citi upgrades Thor Industries to buy from neutral Citi said it see a "favorable event path" for the RV company. " Citi initiates Pure Storage as buy Citi said in its initiation of Pure Storage that the data storage company is an AI beneficiary. Citi reiterates Apple as buy Citi said it's standing by its buy rating on shares of Apple. Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon's Spring Sales event next week. Citi reiterates Micron as buy Citi raised its price target on the stock to $150 per share from $95 and says it's bullish heading into earnings next week. "

Persons: Piper Sandler, Piper, Morgan Stanley, RSG, Cummins, Baird, Nvidia, JPMorgan, Tesla, Telsey, Todd Vasos, it's, Stellantis, Five9, PBF, DINO, Truist, Eli Lilly, LLYs, Dave Ricks, Patrik Jonsson Organizations: EV, Bank of America, Adobe, Citi, Thor Industries, Morgan Stanley downgrades Republic Services, UBS, Cummins, CMI, Microsoft, Nvidia, JPMorgan, Guggenheim, Apple, Worldwide, " Bank of America, Micron, Catalyst Watch, RBC, UFC, WWE, Inc, Valero Energy, Sinclair, of America, Entertainment, Golden Entertainment, Diabetes, Obesity Locations: Snowflake, F4Q24, China, Nevada

☆ Logan Paul’s Prime becomes WWE’s first-ever logo to appear on its wrestling ring mats
▼ + stars: | 2024-03-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —WWE and Logan Paul’s Prime have struck a “record-setting” deal to feature the sports drink as the first-ever brand logo to appear in the center of the wrestling mat. Notably, the deal is for Prime Hydration and not for its energy drink, Prime Energy, which riled up some US lawmakers last year for its high caffeine content. In January, Netflix acquired the exclusive rights to “WWE Raw,” currently seen weekly on Comcast’s USA cable network. However, controversy surrounded the company when disturbing allegations of sexual assault, trafficking and physical abuse against WWE founder Vince McMahon came to light. McMahon, who has denied the accusations, resigned from the company a few days later.

Persons: Logan, ”, Paul, Jake, “, Bud Light, Mat, Dwayne “, ” Johnson, Vince McMahon, McMahon Organizations: New, New York CNN, WWE, Bank, Prime Energy, UFC, Modelo, Netflix, Comcast’s USA Locations: New York, ”

☆ Sundheim's D1 hedge fund shook up its tech exposure, including selling the hottest stock right now
▼ + stars: | 2024-02-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Daniel Sundheim's D1 Capital made a handful of notable changes to its technology holdings in the fourth quarter, including closing out a position in a key artificial intelligence play. Sundheim also zeroed out his stake in software stock Salesforce , while trimming Microsoft and Facebook parent Meta by more than 60% and 20%, respectively. The role of large-cap tech stocks in driving up the market was so apparent that a group was dubbed the "Magnificent 7" for its outsized gains. Outside of big tech, Sundheim added to Mastercard and Philip Morris stakes. On the flip side, he dissolved stakes in a number of well-known stocks including Hilton , Las Vegas Sands , Liberty Media and Yum Brands .

Persons: Daniel Sundheim's, Sundheim, Philip Morris Organizations: Nvidia, Facebook, Meta, Viking Global, Mastercard, WWE, UFC, Lexeo Therapeutics, Hilton, Liberty Media, Yum Brands, Rivian, Electric Locations: Amazon, Vegas Sands

☆ How Vince McMahon built an empire on fakery and taught Donald Trump to control a crowd
▼ + stars: | 2024-02-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +9 min

New York CNN —Netflix recently bet $5 billion on the idea that pro wrestling is due for a renaissance. The potential liability for Netflix, though, lies with World Wrestling Entertainment’s longtime puppet master and promoter, Vince McMahon. CNN: Vince McMahon has been a powerful force in American culture over the last 40 years, but I think that’s hard to convey to non-wrestling fans. Riesman: For about 40 years, Vince McMahon was the central actor and gravitational point for the American and Canadian professional wrestling industry. There’s kayfabe, and then there’s what Vince really pioneered, which is neokayfabe, a term I made up.

Persons: CNN Business ’, ”, Hulk Hogan, That’s, Wrestling Entertainment’s, Vince McMahon, McMahon, didn’t, Abraham Josephine Riesman, “, ” Riesman, Dwayne “, ” Johnson, Steve Austin, Donald Trump, Riesman, Vince, Donald Trump’s, Vince’s, Donny Trump, Trump, Linda, I’m, It’s, There’s, You’re, you’re, Vince McMahon’s, Mr, McMahon ”, Sammy Stein — Organizations: CNN Business, New York CNN, Netflix, Wrestling, WWE, Wall Street, CNN, American, Trump, Trump . CNN, Endeavor Locations: New York, America, Canadian, Queens, United States

☆ Here are Monday's biggest analyst calls: Netflix, Nvidia, Apple, Meta, Lowe's, Walmart, Target, Pepsi & more
▼ + stars: | 2024-02-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades Lowe's to overweight from neutral JPMorgan said investors should buy the stock ahead of earnings later this month. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on shares of Netflix. Loop reiterates Meta as buy Loop raised its price target on the stock to $550 per share from $440. Loop reiterates Alphabet as hold Loop raised its price target on the stock to $155 per share from $140. " UBS reiterates Target as buy UBS says Target shares are "compelling."

Persons: Evercore, it's, wouldn't, Rivian, Piper Sandler, Piper, Jefferies, Willis Towers Watson, URBN, Morgan Stanley downgrades Hershey, Morgan Stanley, Morgan Stanley downgrades XPO, Stifel, Raymond James downgrades, Raymond James, Melius, Roth, Guggenheimer, Guggenheim Organizations: Apple, Barclays, Walmart, EV, JPMorgan, generics, UFC, WWE, Netflix, Citi, Willis, PepsiCo, PEP, LT, UBS, Urban Outfitters, Google, 4Q, Bulls, Target, Bank of America, of America, Bank of America downgrades Duke Energy, Duke Energy, Brands, Nvidia, Deutsche Bank, Industries, Deutsche, SilverBow Resources Locations: U.S, Bank of America downgrades, NWL, Republic, Mohawk

☆ Shares of UFC and WWE parent company are primed to rally 40%, Jefferies says
▼ + stars: | 2024-02-12 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Jefferies thinks investors should buy up TKO Group , calling the company a "knockout combo" of two major entertainment giants. That price target suggests shares could jump more than 39 % from Friday's close. The company is 51% owned by Endeavor Group Holdings, which owns UFC and Hollywood talent agency WME, and 49% owned by WWE shareholders. That price target suggests shares could jump more than 39% from Friday's close. Kronos Worldwide Inc KRO ANALYST CONSENSUS 3 Ratings Hold 0 Strong Buy 0 Strong Buy 1 Buy 1 Buy 0 Hold 0 Hold 2 Underperform 2 Underperform 0 Sell 0 Sell Current Price ( ) 11.00 Highest Price Target Upside (-4.3%) 8.67 Average Price Target 7.00 Lowest Price Target

Persons: Jefferies, Randal Konik, WME, Ari Emanuel, Konik, Dana White, Vince McMahon, Ariel Emanuel, Mark Shapiro, Michelle Farsi, Kronos Organizations: World Wrestling Entertainment, Endeavor Group Holdings, UFC, Hollywood, WWE, Endeavor, New York Stock Exchange, Getty, Inc Locations: Friday's, New York City

Anheuser-Busch last year suffered a major backlash over its Bud Light marketing promotion with a transgender influencer, Dylan Mulvaney. In his Truth Social post on Tuesday, Trump appeared to be well-informed about detailed aspects of the beer company's operations. Trump wrote, "Anheuser-Busch is a GREAT American brand that perhaps deserves a Second Chance?" "Am building a list, and might just release it for the World to see," Trump wrote. Trump wrote.

Persons: Donald Trump, Busch, Dana White, Dylan Mulvaney, White, Trump, Bud, Bud Light, Kid Rock Organizations: Anheuser, UFC, CNBC, Busch, Bud Light, Trump, GREAT, TKO, Holdings, Republican Locations: Nevada, Treasure, Las Vegas , Nevada, U.S, American, Las Vegas

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, UPS, Disney, UBS, Broadcom, Palantir, Tyson & more
▼ + stars: | 2024-02-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Deutsche Bank initiates Flywire as buy Deutsche said it sees an attractive entry point for the payments company. " "We are initiating coverage of Sprinklr with a Buy rating and a $16 price target. UBS upgrades UPS to buy from neutral UBS said in its upgrade of the stock that it sees "attractive EPS growth." Deutsche Bank reiterates Disney as buy Deutsche said it's sticking with its buy rating on Disney heading into earnings on Wednesday. "We are downgrading TSLA stock rating to 3/Neutral from 2/Outperform as we see corporate governance concerns aggravating already tough financial conditions in 2024."

Persons: Rosenblatt, Sprinklr, Bernstein, Tesla, underperform Bernstein, Morgan Stanley, Apple, it's bullish, Daiwa, Piper Sandler downgrades Chegg, Piper, Myers, Redburn, Northcoast, JPMorgan Organizations: Deutsche Bank, Li Auto, Deutsche, Education, Healthcare, UBS, Disney, OI, company's, Tesla, JPMorgan, Broadcom, Bank of America, Tyson Foods, underperform Bank of America, Citi, UFC, WWE, Global Locations: McDonald's, PLTR

Last week, the company, McMahon and a former WWE executive were sued by a former employee alleging those crimes. McMahon has also discussed being under federal investigation and having a phone seized by federal officials, a senior-level WWE executive and another personal friend told NBC News. Representatives for McMahon, TKO Group and WWE did not immediately respond Friday to requests for comment on the federal investigation. McMahon is no stranger to allegations of sexual assault — and has survived several during his reign at the company. McMahon also faced federal conspiracy charges alleging orchestrated steroid use among WWE wrestlers, and he was found not guilty by a jury in 1994.

Persons: Vince McMahon, McMahon, Nicholas Biase, Janel Grant, John Laurinaitis, Laurinaitis, Rita Chatterton Organizations: MetLife, Former, Wrestling Entertainment, NBC News, WWE, U.S, Attorney's Locations: East Rutherford , New Jersey

☆ The WWE knew Vince McMahon was a liability. So why did it bring him back after his scandalous departure?
▼ + stars: | 2024-01-29 | by ( Kyle Feldscher | David Goldman | ) edition.cnn.com time to read: +8 min

CNN —WWE’s parent company knew Vince McMahon — the founder of the wrestling behemoth — was a potential liability. That risk was realized Thursday when a former WWE employee accused McMahon of sexual assault and trafficking in a disturbing and graphic lawsuit. The company said McMahon has since repaid the company about $20 million for misappropriated corporate funds and for the legal fees TKO and WWE paid to investigate McMahon. Vince McMahon, Jr., was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. “I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in a statement at the time.

Persons: Vince McMahon, —, McMahon, ”, Janel Grant, behemoth McMahon, “, Nick Khan, McMahon’s, Donald Trump’s, Donald J, ” McMahon, McMahon, — Vince McMahon, Vince McMahon’s, Stephanie, Jr, reinstalling, Stephanie McMahon —, Khan, What’s, Grant, CNN’s Sam Delouya, Elizabeth Wagmeister Organizations: CNN, WWE, Companies, US Securities and Exchange Commission, SEC, Wall Street, Trump Foundation, UFC, Endeavor, Securities and Exchange Commission

☆ Paul ‘Triple H’ Levesque makes public comments after WWE employee’s sex trafficking accusations against Vince McMahon
▼ + stars: | 2024-01-28 | by ( Elisabeth Buchwald | Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Paul “Triple H” Levesque, the chief content officer at World Wrestling Entertainment, made his first public comments after Vince McMahon resigned Friday from the board of WWE’s parent company, TKO Group Holdings, in the wake of a former employee’s lawsuit accusing McMahon of sex trafficking, sexual assault and physical abuse. The horrifying allegations against McMahon were brought forward by Janel Grant, who worked at WWE’s headquarters. Grant alleged McMahon promised a job — and later promotions — at WWE in exchange for sex. Grant’s lawsuit also includes allegations McMahon trafficked her to other men inside and outside the company, including John Laurinaitis, a former wrestler who worked in the company’s talent relations department. The deal valued the newly combined company at over $21 billion, with WWE shareholders owning 49% of the combined company.

Persons: New York CNN — Paul “, New York CNN — Paul “ Triple H ” Levesque, Vince McMahon, McMahon, WWE’s, Levesque, McMahon’s, ” Levesque, he’s, Janel Grant, Grant, —, John Laurinaitis, Laurinaitis, Ari, Cody Rhodes, Dwayne “, ” Johnson, Samantha Delouya, Elizabeth Wagmeister, Jordan Valinsky Organizations: New, New York CNN, New York CNN — Paul “ Triple, World Wrestling Entertainment, Holdings, WWE, Endeavor, UFC, Netflix Locations: New York, St . Petersburg , Florida, WWE’s, Laurinaitis, Hollywood

☆ Sex Assault Claims Against McMahon Shadow a W.W.E. Trying to Move Forward
▼ + stars: | 2024-01-28 | by ( Kevin Draper | ) www.nytimes.com time to read: +1 min

It was a bombastic end to one of the most consequential, and tumultuous, weeks in W.W.E.’s history. In the days between the Netflix deal and “Royal Rumble,” however, came a stark reminder of how sordid legal entanglements from the company’s recent past could reverberate in the present. employee, Janel Grant, sued Vince McMahon — the co-founder of what would become W.W.E. and the executive chairman of the board of TKO Group — and accused him of sexual assault and sex trafficking. Mr. McMahon called the lawsuit, which was filed in U.S. District Court in Connecticut, a “vindictive distortion of the truth,” but on Friday he resigned from the TKO board.

Persons: Cody Rhodes, ”, Dwayne Johnson, —, Janel Grant, Vince McMahon, McMahon, Mr Organizations: Netflix Locations: W.W.E, U.S, Connecticut

☆ Vince McMahon resigns from WWE parent company board following sex abuse lawsuit
▼ + stars: | 2024-01-27 | by ( Hannah Getahun | Associated Press | ) www.businessinsider.com time to read: +3 min

According to a statement released late Friday, McMahon stepped down from the board of directors at WWE's parent company, TKO Group Holdings. The WWE board began investigating allegations that McMahon paid off accusers for their silence following his resignation as CEO. TKO Group Holdings referred Business Insider to McMahon's statement. Advertisement"Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE," TKO Group said earlier this week. Representatives for Grant did not immediately respond to a request for comment from Business Insider.

Persons: —, Vince McMahon, McMahon, Janel Grant, Grant, Nick Khan Organizations: Service, Business, Holdings, WWE, World Wrestling Federation Locations: Connecticut

☆ Vince McMahon Cuts W.W.E. Ties After Sex Trafficking Accusation
▼ + stars: | 2024-01-26 | by ( Kevin Draper | ) www.nytimes.com time to read: +1 min

Vince McMahon, the longtime chairman and former chief executive of World Wrestling Entertainment, resigned from the board of W.W.E.’s parent company on Friday, one day after a former employee accused him of sexual assault and sex trafficking in a lawsuit. Mr. McMahon, 78, was the executive chairman of TKO Group, the parent company of W.W.E., where he no longer held a formal position. “He will no longer have a role with TKO Group Holdings or W.W.E.,” Mr. Khan wrote in the email, a copy of which was obtained by The New York Times. The lawsuit, filed on Thursday in U.S. District Court in Connecticut, accuses Mr. McMahon of trafficking the employee, Janel Grant, as well as physically and emotionally abusing her. executive, and the company itself as defendants, says that Mr. McMahon and Mr. Laurinaitis had once taken turns raping Ms. Grant, among numerous other allegations.

Persons: Vince McMahon, McMahon, Nick Khan, “, ” Mr, Khan, Mr, Janel Grant, John Laurinaitis, Laurinaitis, Grant Organizations: World Wrestling Entertainment, The New York Times Locations: Connecticut

McMahon stepped down from the his position as executive chairman of the board of directors at WWE’s parent company, TKO Group Holdings, according to a statement released late Friday. McMahon's statement said that he was leaving the board “out of respect” for WWE and TKO Group. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE,” TKO Group said earlier this week. According to the lawsuit, McMahon lived in the same building as Grant and in 2019 offered to get her a job at WWE after her parents died. “WWE benefited financially from the commercial sex act venture orchestrated by McMahon, including by having wrestling talent, such as WWE Superstar, sign new contracts with WWE after McMahon presented Plaintiff as a sexual commodity for their use,” the lawsuit states.

Persons: Vince McMahon, McMahon, Janel Grant, Grant, ”, “, ” McMahon, “ Mr, ” Grant, John Laurinaitis, Laurinaitis, McMahon lavished, —, Ms, Ann Callis Organizations: WWE, AP, World Wrestling Federation, Holdings, “ WWE Locations: STAMFORD, Conn, Connecticut

Vince McMahon, executive chairman of the board of TKO Group Holdings and founder of wrestling giant WWE, has resigned his positions at both companies, according to a WWE memo obtained by CNBC and confirmed by the company. "Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings or WWE," said Nick Khan, president of the WWE. The announcement came in the wake of allegations made public Thursday, of sexual assault and sex trafficking, against McMahon. The latest allegations against McMahon were in a lawsuit filed by Janel Grant — who alleges McMahon directed her to have sex with a WWE "superstar" and other men.

Persons: Vince McMahon, Nick Khan, McMahon, Janel Grant —, Grant's, Grant, John Laurinaitis Organizations: WWE, MetLife, Holdings, CNBC Locations: East Rutherford , New Jersey, U.S, Connecticut

☆ Vince McMahon, WWE founder, resigns amid sex trafficking allegations
▼ + stars: | 2024-01-26 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

CNN —Vince McMahon has resigned from his role as executive chairman of TKO, the parent company of WWE, following disturbing allegations of sexual assault, trafficking and physical abuse. In the lawsuit, Grant alleged that McMahon dangled a job offer at WWE – and later promotions – in exchange for sex. McMahon engaged in acts of “extreme cruelty and degradation” toward Grant during her time at WWE, the lawsuit alleged. He initially retired from his role as CEO and chairman of WWE in July 2022 amid allegations of sexual misconduct. The investigation was closed in November 2022 and McMahon returned to WWE’s board in January 2023.

Persons: Vince McMahon, Janel Grant, behemoth McMahon, McMahon, ” McMahon, Grant, John Laurinaitus, Nick Khan, ” Khan, “ McMahon, ” McMahon’s, Grant’s, Ari, “, Ann Callis, McMahon’s, Dwayne “, ” Johnson, ”, Johnson Organizations: CNN, WWE, UFC, Hollywood, Ari Emanuel’s Endeavor Group, Netflix Locations: Laurinaitis

☆ WWE boss Vince McMahon accused of sexual assault and trafficking in new lawsuit
▼ + stars: | 2024-01-25 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Vince McMahon attends a press conference at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. WWE boss Vince McMahon was accused Thursday of sexual assault, trafficking, and physical and emotional abuse in a lawsuit by a woman who previously worked for the pro wrestling giant. The suit says McMahon only paid her $1 million, "but failed to make any further payments." In addition to McMahon, the suit names WWE and John Laurinaitis, the former head of talent relations and general manager, as defendants. McMahon's lawyer, and spokespeople for the WWE and TKO did not immediately respond to requests for comment.

Persons: Vince McMahon, Janel Grant, McMahon, Grant, John Laurinaitis Organizations: MetLife, WWE, Connecticut federal, UFC, TKO, Holdings Locations: East Rutherford , New Jersey, Connecticut

A former WWE employee filed a federal lawsuit Thursday accusing executive Vince McMahon and another former executive of serious sexual misconduct, including offering her to a star wrestler for sex. Grant also names as defendants in the lawsuit the WWE and John Laurinaitis, the company's former head of talent relations and general manager. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE," TKO Group said in a statement. According to the lawsuit, McMahon lived in the same building as Grant and in 2019 offered to get her a job at WWE after her parents died. “WWE benefited financially from the commercial sex act venture orchestrated by McMahon, including by having wrestling talent, such as WWE Superstar, sign new contracts with WWE after McMahon presented Plaintiff as a sexual commodity for their use,” the lawsuit states.

Persons: Vince McMahon, Janel Grant, McMahon, Grant, John Laurinaitis, Ann Callis, ”, “ Mr, Laurinaitis, McMahon lavished, — Organizations: WWE, AP, “ WWE, World Wrestling Federation, Holdings Locations: U.S, Connecticut

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