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Endeavor And TKO Group Are Buying $311M More In Stock From Vince McMahon, But The Disgraced Ex-WWE Boss Still Has A Large Stake
Endeavor and TKO Group are buying more of the stock owned by former board member Vince McMahon, who abruptly exited after a sexual assault lawsuit.
On TKO’s quarterly earnings call in February with Wall Street analysts, he said the company was “on the sideline” waiting to see if McMahon would be shedding any more of his holdings. The pro wrestling impresario abruptly exited as board chairman early in 2024 after a graphic lawsuit was filed by a former employee, accusing him of sex trafficking and sexual assault. Having built the WWE into a lucrative global business and cultural force over more than four decades, McMahon oversaw the merger of the wrestling organization with the UFC in a $21.4 billion combination that created TKO.
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