WWE discloses  million in McMahon bills, delays income record

World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H seem within the ring all over the WWE Monday Night Raw display on the Thomas & Mack Center August 24, 2009

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World Wrestling Entertainment disclosed any other $5 million in bills made by way of former CEO Vince McMahon and behind schedule its income record, according to an SEC filing.

The replace comes after a disclosure of $14.6 million in previously unrecorded expenses paid out by McMahon, and his retirement from the company. The Wall Street Journal had reported that the hush bills were under investigation by way of federal prosecutors and the Securities and Exchange Commission.

McMahon, who retired as CEO and chairman of the corporate closing month, is the most important shareholder of the corporate with a 32% stake. He purchased the corporate from his father about 40 years in the past and oversaw its enlargement into a world sports activities leisure logo.

McMahon’s daughter, Stephanie McMahon, took over as co-CEO and chairwoman, whilst her husband Paul “Triple H” Levesque, is now accountable for WWE’s ingenious content material.

In its submitting Tuesday night time, WWE said that the 2 newly disclosed bills, made by way of McMahon in 2007 and 2009, are unrelated to allegations of misconduct towards McMahon. The board is recently overseeing an impartial investigation of the former bills and allegations.

News of the former bills heightened speculation of a WWE sale. On Wednesday, following the newest information, WWE stocks rose greater than 1%, hitting a 52-week top.

WWE additionally mentioned it won’t be able to record its quarterly record as scheduled this week because of the instances of the unrecorded bills.

The corporate launched initial effects for the quarter on July 25 along the $14.6 million disclosure.

Source Link: https://www.cnbc.com/2022/08/10/wwe-discloses-5-million-in-mcmahon-payments-delays-earnings-report.html

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