Wrestling moves
Vince McMahon is back on the board at WWE, 6 months after stepping away from the company following hush-money allegations and alleged sexual misconduct.
The announcement of McMahon’s return made WWE shares one of the best performing stocks on Friday, rising nearly 17% amidst reports of a potential sale that the controversial CEO may help to oversee.
Heavyweights
Originally established as the Capitol Wrestling Corporation in 1953, WWE has long dominated the world of professional wrestling promotion, having kickstarted the careers of stars like Hulk Hogan, Dwayne Johnson and John Cena. Any potential buyers will inherit a content behemoth; WWE matches are broadcast across 180 countries, in 30 different languages, and are available in 1 billion homes around the globe.
Indeed, the company’s media segment is by far its biggest money spinner — in 2021 WWE earned $936m broadcasting its flagship shows like SmackDown, Raw and NXT in the US and around the world. The live entertainment arm, understandably, took a hit in recent years, pulling in just $58m in 2021, less than 50% of 2019’s $126m figure.
Still, after posting its first billion-dollar revenue year in history, it’s clear that WWE continues to have the wider world wrestling industry in a headlock.
