last year, Vince McMahon resigned. from his executive and creative responsibilities at World Wrestling Entertainment during the ongoing sexual misconduct investigation. Since then, his daughter Stephanie McMahon has stepped up to become co-CEO of the company with Nick Khan, while his son-in-law Paul “Triple H” Levesque has assumed creative control of the company’s products. That could all change, though, as McMahon is reportedly planning a comeback.
According to a new report by The Wall Street Journal, McMahon is looking to return to the company’s board of directors and bring allies on board in the form of former WWE co-presidents and directors Michelle Wilson and Jorge Berrios. According to the WSJ, the move is to try to sell the company. Currently, McMahon has a majority of the voting rights in the company because of his stock.
As the WSJ explains, McMahon has told the board he wants to use his voting power to elect himself, Wilson and Berrios to the board. The board had previously rejected McMahon’s return attempts. It’s also worth noting that the trio’s return will mean three current directors will have to vacate their roles, though there’s no word on who that will be.
As for why this is happening now, WWE’s TV rights deals with both NBC Universal and Fox are set to expire soon, meaning the company is looking to land bigger deals for its Raw, Smackdown, and NXT programming. In a letter to the board, according to the WSJ, McMahon said he intends to return to the strategic review process to assess whether WWE is a good target for sale. “Unless he is directly involved as executive chairman from the outset of a strategic review, he will not support or approve any deal or sale of media rights,” he added.
The investigation into McMahon’s conduct was first reported by the Wall Street Journal last year. It was reported that McMahon had paid hush money to an employee with whom he had an affair. It was later reported in July that he actually was Paid $12 million in settlement For women since 2006.
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