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Vince McMahon Risk Weighs On TKO Stock; Asked About Explosive Lawsuit, WWE Content Chief Paul Levesque Instead Touts Company’s “Amazing Week”
WWE is continuing to deal with fallout from sexual abuse allegations facing its former longtime chief Vince McMahon, with shares in parent TKO Group Holdings slipping as investors weigh the potenti…
WWE is continuing to deal with fallout from sexual abuse allegations facing its former longtime chief Vince McMahon, with shares in parent TKO Group Holdings slipping as investors weigh the potential downside. One prominent Wall Street firm earlier Monday flagged “brand and legal risk” to TKO from the lawsuit filed against McMahon and former WWE talent chief John Laurinaitis by former employee Janel Grant, who offered graphic details in laying out accusations of sex trafficking, battery and rape. “Yes, there’s a negative,” the exec conceded in a press conference Saturday night, but “I choose to focus on the positive.” A long-term Netflix deal, Dwayne Johnson’s appointment to TKO’s board of directors and a sellout crowd in Florida for the Royal Rumble all added up to “an amazing week,” Leveque said.
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