Report: WWE boss McMahon’s hush cash bill over $12 million
Advertisement
Read this article for free:
or
Already have an account? Log in here »
We need your support!
Local journalism needs your support!
As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed.
Now, more than ever, we need your support.
Starting at $15.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website.
Subscribe Nowor call circulation directly at (204) 727-0527.
Your pledge helps to ensure we provide the news that matters most to your community!
To continue reading, please subscribe:
Add Brandon Sun access to your Free Press subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $20.00 plus GST for four weeks. After four weeks, your payment will increase to $24.00 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 09/07/2022 (1326 days ago), so information in it may no longer be current.
NEW YORK (AP) — The longtime World Wrestling Entertainment impresario Vince McMahon agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity, the Wall Street Journal reports.
The amount is significantly larger than what was previously known.
Four women — all formerly affiliated with WWE — signed agreements with McMahon, 76, that bar them from discussing their relationships with him, the Journal reported on Friday, citing people familiar with the deals and documents it reviewed.
McMahon stepped down as CEO and chairman of WWE in mid-June during an an investigation into the alleged misconduct and the Journal reported at the time that he had agreed to pay $3 million to a former paralegal who said he sexually harassed her on the job.
McMahon will continue to oversee WWE’s creative content during the investigation.
WWE named McMahon’s daughter, Stephanie, interim CEO and chairwoman during the investigation into his alleged misconduct though he continued to oversee the company’s creative side. The organization stated at the time that it will have no further comment until the investigation is over.
McMahon has been the leader and most recognizable face at WWE for decades. When he purchased what was then the World Wrestling Federation, from his father in 1982, wrestling matches took place at small venues and appeared on local cable channels.
WWE matches are now held in professional sports stadiums and the organization has a sizeable overseas following. It has a broadcast partnership with the Saudi media company MBC Group.
The organization underwent a seismic transformation under McMahon with events like WrestleMania, a premium live production that draws millions of fervent viewers.
Revenue last year exceeded $1 billion for the first time and the company has television deals with Fox and NBCUniversal. Last month it announced a multiyear expansion of its original programming partnership with A&E.
WWE stars have become crossover sensations, including Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin and John Cena.
Shares of World Wrestling Entertainment Inc., based in Stamford, Connecticut, dropped 2% on Friday.