OAN’s Brooke Mallory
12:18 PM – Friday, November 10, 2023
According to a statement from TKO on Thursday, Vince McMahon intends to sell a sizable portion of his ownership in the wrestling conglomerate WWE, which he founded with help from his father.
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Nick Khan is now the current president of WWE and has been since July 25th, 2022.
Thursday’s closing bell saw a 5% decline in TKO’s shares. During normal trading, the shares closed at $84.90.
According to reports, about $700 million worth of McMahon’s shares are set to be sold. As per a regulatory filing, as of August, he possessed about 28 million shares. The corporation also made mention of a number of executives who are considering purchasing shares from McMahon.
Forbes estimated that the veteran wrestling mogul’s worth is around $2.8 billion.
The newest decision could also be a sign that McMahon, 78, possibly intends to exit the professional wrestling business. For about 40 years, the family firm has dominated the industry and helped start the careers of several crossover…
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