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Search resuls for: "World Wrestling Entertainment"


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☆ Endeavor nears deal to buy Vince McMahon's WWE
  + stars: | 2023-04-02 | by ( Milana Vinn Anirban Sen Dawn Chmielewski | Milana Vinn | Anirban Sen | ) www.reuters.com   time to read: +2 min
Endeavor and WWE did not immediately respond to requests for comment on Sunday. The deal could be announced as early as this week, the sources said. Endeavor shareholders will own 51% of the combined company, while WWE shareholders would get 49%, the sources said. Endeavor is led by Hollywood power broker Ari Emanuel, who earlier this month declined to answer questions about a possible deal. In January, WWE said it would explore strategic options that could include a sale, shortly after Vince McMahon's return to the company.
☆ Endeavor and W.W.E. Said to Be Close to Deal Combining Fighting Leagues
  + stars: | 2023-04-02 | by ( Lauren Hirsch | Benjamin Mullin | Brooks Barnes | ) www.nytimes.com   time to read: 1 min
Endeavor, the Hollywood entertainment colossus that owns the Ultimate Fighting Championship, is close to a deal that would combine that league with World Wrestling Entertainment, two people familiar with the negotiations said on Sunday. The combination would mean a behemoth in combat entertainment, both real and scripted. The deal could be announced as early as this week, said the people, who requested anonymity to discuss confidential negotiations. The deal would create a new, publicly traded company, according to the people, with Endeavor’s U.F.C. league composing 51 percent of the business and W.W.E.
☆ Vince McMahon locks in two-year contract as WWE looks for buyers
  + stars: | 2023-03-31 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +1 min
World Wrestling Entertainment Inc. Chairman Vince McMahon is introduced during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 in Las Vegas, Nevada. Vince McMahon has pinned down a two-year employment contract at World Wrestling Entertainment . The WWE chairman's agreement dates back to Jan. 9, when he returned to the company, according to a securities filing. McMahon returned to WWE's board in January help with the sale negotiations. At the time, his daughter, Stephanie McMahon, had taken over as co-CEO of WWE, a family business for the McMahons.
☆ Ex-WWE chief McMahon pays back $17.4 million in investigation costs
  + stars: | 2023-03-24 | by ( ) www.reuters.com   time to read: +1 min
March 24 (Reuters) - World Wrestling Entertainment Inc (WWE) (WWE.N) said on Friday Executive Chairman Vincent McMahon had paid $17.4 million to the company to cover costs related to an investigation into his alleged misconduct. McMahon, credited with transforming WWE from a regional player to a global giant, retired as CEO and chairman of the company in July last year. He returned to the board in January, after the probe was wrapped up. McMahon said he would involve himself in the company's media rights acquisition process as it looks to capitalize on growing demand for content and live entertainment. Reporting by Akash Sriram in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
☆ Lightning Round: Reliance is good, Nucor's better
  + stars: | 2023-03-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Reliance is good, Nucor's betterMad Money host Jim Cramer weighs in on all manner of stocks, including Reliance Steel, Taiwan Semi, World Wrestling Entertainment, Blackstone, Prudential Financial, Catalent and Amazon.
☆ WWE wants betting to become legalized as the wrestling organization lobbies state regulators
  + stars: | 2023-03-10 | by ( Aaron Mcdade | ) www.businessinsider.com   time to read: +2 min
WWE reportedly wants its fans to be able to bet on its scripted matches just like other sports. WWE has presented betting on other events where results are predetermined like the Oscars as a comparable example. Under WWE's new proposal, it will keep the results of events secret for months by working with an accounting firm. The first states that WWE approached about the possibility of legalizing the bets included Michigan, Indiana, and Colorado, according to CNBC. In the few states where it's legal, some sportsbooks like DraftKings and FanDuel allow betting on events like the Oscars in their mobile app, CNBC reported.
☆ Betting on WWE matches? 'NFW!' say gaming operators and regulators
  + stars: | 2023-03-10 | by ( Contessa Brewer | ) www.cnbc.com   time to read: +3 min
"The Colorado Division of Gaming is not currently and has not considered allowing sports betting wagers on WWE matches," they said. It issued a public statement advising WWE to work with the gaming industry. replied Adam Greenblatt, CEO of BetMGM, whether he would be eager to accept wagers on the WWE's scripted matches. The American Gaming Association, which represents both commercial and tribal operators, told CNBC: "Both regulators and operators must have confidence in the integrity of the competitions." "Ultimately, most industry stakeholders seem to view WWE betting as even more optically-challenging than betting on awards shows," Sharp Alpha Advisors managing director Lloyd Danzig said.
☆ WWE girds for insider-betting fight
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, March 9 (Reuters Breakingviews) - Want to bet on a match where the outcome is fixed in advance? The league is in talks with U.S. state gambling regulators to legalize bets on its staged matches, according to CNBC. For WWE the number of insiders may be bigger: Writers, trainers and wrestlers might be among those with an idea of what’s in store. Overseas bettors can already wager on an upcoming six-woman tag WWE team match, the Eurovision Song Contest and Love Island 2023. Meanwhile, the WWE has put itself up for sale, so some theatrical limbering up for future revenue opportunities is a smart way to juice the price.
☆ WWE in talks to legalize betting on scripted matches
  + stars: | 2023-03-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWWE in talks to legalize betting on scripted matchesCNBC's Alex Sherman joins Brian Sullivan and 'Last Call' to discuss World Wrestling Entertainment's efforts to enable legal betting on scripted wrestling matches.
☆ Vince McMahon reportedly wants at least $9 billion for potential sale of WWE
  + stars: | 2023-02-18 | by ( Aaron Mcdade | ) www.businessinsider.com   time to read: +3 min
Ex-WWE CEO Vince McMahon reportedly wants at least $9 billion for the company, according to Bloomberg. He has been considering a sale since his return, and several bids reportedly have been submitted. Days after McMahon's return, WWE also announced that Stephanie McMahon was resigning as co-CEO, and Khan would serve as the lone CEO going forward. Last month, Khan said reports that a sale to the Saudi Arabian fund was complete in principle "totally false." McMahon's desired $9 billion is a high ask considering the company reported $1.29 billion in sales last year, and the $9 billion price tag is about 23 times the company's operating income, according to Bloomberg.
☆ Vince McMahon open to leaving WWE for good if he sells the company, CEO Nick Khan says
  + stars: | 2023-02-03 | by ( Alex Sherman | ) www.cnbc.com   time to read: +2 min
World Wrestling Entertainment Executive Chairman Vince McMahon is open to stepping away from the company "if it's the right deal," according to WWE CEO Nick Khan. Khan took over as sole CEO in January when Levesque's wife and McMahon's daughter, Stephanie, stepped down as co-CEO. McMahon stepped away from his CEO role in June amid accusations of sexual misconduct from former female WWE employees. A month later, he announced he announced he would retire from the wrestling company he bought from his father over four decades ago. Khan acknowledged "it's tough to take control" from McMahon, who has owned and run WWE (previously WWF) for more than 40 years.
☆ 6 daily practices this 82-year-old triathlete and neurosurgeon uses to lengthen his healthspan
  + stars: | 2023-01-26 | by ( Renée Onque | ) www.cnbc.com   time to read: +1 min
Living to 90 is a feat in itself, but imagine being able to compete in triathlons even as you near that distinguished age. This is the reality for Dr. Joseph Maroon, an 82-year-old triathlete who also works as a consultant neurosurgeon for the Pittsburgh Steelers and medical director of the World Wrestling Entertainment (WWE). "I tell people my goal in life is to die young as late as possible," Maroon says. "The physical activity literally saved my life." From that point forward, Maroon made some serious changes to his daily habits, which he believes added extra years to both his "healthspan" and his lifespan.
☆ WWE’s Vince McMahon Settles With Ex-Wrestling Referee Who Accused Him of Rape
  + stars: | 2023-01-19 | by ( Joe Palazzolo | Ted Mann | ) www.wsj.com   time to read: 1 min
Vince McMahon , the executive chairman of World Wrestling Entertainment Inc., has agreed to a multimillion-dollar legal settlement with a former wrestling referee who accused him of raping her in 1986, according to people familiar with the agreement. Mr. McMahon’s settlement with Rita Chatterton, completed last month, averts a public legal fight over her allegations as Mr. McMahon pursues a possible sale of the company.
☆ Wall Street Journal: WWE's Vince McMahon settles with another ex-employee
  + stars: | 2023-01-19 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
The Journal reported Thursday that McMahon completed a settlement last month with Rita Chatterton, its first female referee, who accused him of raping her in 1986. And he settled the case solely to avoid the cost of litigation,” said Jerry McDevitt, a lawyer for McMahon, told the Journal. In addition, Chatteron’s lawyer didn’t respond to CNN’s request for comment and the lawyer declined to comment to the Journal. McMahon has previously paid more than $12 million to four women to cover up “allegations of sexual misconduct and infidelity,” according to a July 2022 Wall Street Journal report. WWE (WWE) shares were up slightly Thursday.
☆ How WWE’s Vince McMahon ruthlessly got his job back despite allegations of sexual assault and misuse of company funds
  + stars: | 2023-01-14 | by ( Kyle Feldscher | ) edition.cnn.com   time to read: +12 min
WWE has always been a family business – Vince McMahon, Sr., handed over the reins to his son in the 1980s – and it seemed set to continue that way. Why was Vince McMahon stepping aside such a big deal? Vince McMahon was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. Once considered a wrestling genius, critics have more recently come to consider Vince McMahon a creative liability. McMahon,” Vince McMahon’s devious on-screen character, who served as wrestling’s greatest heel for years in the late 1990s and early 2000s.
☆ WWE retains restructuring specialist Kirkland & Ellis as adviser for strategic review
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +1 min
Jan 12 (Reuters) - World Wrestling Entertainment (WWE.N) said on Thursday it has retained bankruptcy and restructuring powerhouse Kirkland & Ellis LLP as its legal adviser related to its review of strategic alternatives for the company. It has also retained The Raine Group LLC as financial advisor and August LLC as strategic communications adviser. Vince McMahon returned to WWE earlier this month and made some changes to the company's board. At the time, WWE announced that it was launching a review to explore "strategic alternatives" for the company. Later, WWE said that it found some unrecorded expenses tied to Vince McMahon.
☆ WWE's smaller rival AEW interested in merger, sources say
  + stars: | 2023-01-12 | by ( Alex Sherman | ) www.cnbc.com   time to read: +1 min
All Elite Wrestling, a professional wrestling league owned by the Khan family, is interested in merging with World Wrestling Entertainment , according to people familiar with the matter. The idea that Vince McMahon, the controlling shareholder of WWE, would merge his company with the much smaller AEW is a long shot. AEW hasn't had talks with McMahon or Nick Khan, the company's chief executive, said the people. It's unclear what type of job McMahon would want with WWE after a sale, but WWE is a much larger and more established organization than AEW. McMahon, who was worth more than $3 billion as of July, is also known as the primary creative force behind WWE's storylines.
☆ WWE Board Elects Vince McMahon Executive Chairman
  + stars: | 2023-01-11 | by ( Patrick Chu | ) www.wsj.com   time to read: 1 min
Vince McMahon had previously retired as WWE chief executive and chairman amid a board investigation of sexual misconduct claims against him. World Wrestling Entertainment Inc. said Tuesday night its board of directors unanimously voted to elect majority owner Vince McMahon as executive chairman of the board, less than a week after the former chief executive returned to the company and ousted three directors, while two other board members resigned. Mr. McMahon’s daughter, Stephanie McMahon, has resigned as chairwoman and co-chief executive officer, the company said in a statement. Nick Khan will serve as the sole chief executive.
☆ WWE co-CEO Stephanie McMahon resigns, Vince returns as executive chairman
  + stars: | 2023-01-11 | by ( ) www.reuters.com   time to read: +1 min
Jan 10 (Reuters) - World Wrestling Entertainment (WWE.N) elected former chief Vince McMahon as the executive chairman of the board on Tuesday, the company said, adding that co-chief executive officer and chairwoman Stephanie McMahon resigned from her role. Nick Khan will serve as the new WWE CEO, the entertainment firm added. Vince McMahon, 77, returned to the board last week and elected himself and two former co-presidents and directors Michelle Wilson and George Barrios to the board. loadingVince McMahon, who ran the company for four decades, said last week that the only way for WWE to fully capitalize on growing demand for content and live entertainment was for him to return as executive chairman. McMahon retired in July last year, as the company's CEO and chairman, following an investigation into his alleged misconduct.
☆ Vince McMahon is back at WWE to ensure a smooth sale process. Here's who might want to buy it
  + stars: | 2023-01-07 | by ( Alex Sherman | ) www.cnbc.com   time to read: +8 min
WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. But it remains unclear what type of role, if any, McMahon would want at WWE if he sold the company. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation. McMahon's company already has an exclusive streaming deal with Comcast's streaming service, Peacock, and a cable TV deal with NBCUniversal's USA Network. Fox sold off most of its entertainment assets in its $71 billion sale to Disney in 2019, but WWE fits with the smaller company's sports and live events focus.
☆ WWE confirms Vince McMahon is rejoining the board, stock spikes
  + stars: | 2023-01-06 | by ( Rebecca Picciotto | ) www.nbcnews.com   time to read: +2 min
World Wrestling Entertainment confirmed on Friday that former CEO and majority shareholder Vince McMahon will be reinstated to the company’s board. “Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” WWE executives said in a Friday press release. He also said he would bring back former co-presidents Michelle Wilson and George Barrios as board directors. Three current board members, JoEllen Lyons Dillon, Jeffrey Speed and Alan M. Wexler, were removed from their positions. Even during his leave, McMahon maintained control over the company as a majority shareholder.
☆ Vince McMahon Plots Return to WWE
  + stars: | 2023-01-06 | by ( Lauren Thomas | ) www.wsj.com   time to read: 1 min
WWE owner Vince McMahon told the company that he plans to elect himself to its board, people familiar with the matter said. Vince McMahon , the majority owner and former chief executive of World Wrestling Entertainment Inc., plans to return to the company following his retirement last year amid a sexual-harassment scandal to pursue a sale of the business, according to people familiar with the matter. Mr. McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, has told the company that he is electing himself and two former co-presidents and directors, Michelle Wilson and George Barrios , to the board, the people said. The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.
☆ Stocks making the biggest moves midday: World Wrestling Entertainment, Bed Bath & Beyond, Costco and more
  + stars: | 2023-01-06 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
World Wrestling Entertainment — The wrestling entertainment stock surged 21% after WWE announced that founder Vince McMahon is returning to its board of directors and that the company is exploring strategic moves. R1 RCM — Shares of the healthcare technology firm soared more than 11% after the company raised its revenue outlook for 2023. Costco Wholesale — Shares of the big-box retailer jumped more than 6% after it reported solid sales numbers for December. First Solar — Shares of First Solar rose more than 4% after Wells Fargo upgraded it to overweight, saying Europe's energy crisis and the Inflation Reduction Act in the U.S. will boost demand for solar energy. Bed Bath & Beyond — Shares plunged 20% after the retailer warned it was running out of cash and was considering bankruptcy.
☆ Stocks making the biggest moves premarket: World Wrestling Entertainment, Bed Bath & Beyond, Tesla, Costco and more
  + stars: | 2023-01-06 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
World Wrestling Entertainment — Shares advanced 9.7% after Vince McMahon elected himself executive chairman of the company despite retiring last year due to a sexual misconduct scandal. Shares dropped 14% premarket, after posting a 42% loss Thursday. Meanwhile, Ulta lost 1.8% after getting downgraded to under weight from equal weight. Bath & Body Works shed 1.7% after the firm moved it to equal weight from overweight. Discover Financial , Synchrony Financial — The consumer finance stocks were under pressure after being downgraded by Barclays to equal weight from overweight.
☆ WWE confirms former chief Vince McMahon's return to board
  + stars: | 2023-01-05 | by ( ) www.reuters.com   time to read: +1 min
Jan 6 (Reuters) - Vince McMahon, the former chief of World Wrestling Entertainment (WWE.N), is returning to the board of the company that he transformed from a regional player in a highly fragmented industry of the 1980s to a global giant, WWE said on Friday. Shares of the entertainment firm rose about 16%, as WWE also said that it would explore strategic alternatives confirming an earlier statement by McMahon. McMahon, 77, said on Thursday that he expects to assume the role of executive chairman at WWE, to involve himself in the company's media rights negotiation process. The company did not state what position Vince McMahon would hold at the board. McMahon retired in July last year as the company's CEO and chairman, following an investigation into his alleged misconduct.
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