HIGHLIGHTS:
- The public company WWE sold to Saudi Arabia’s Investment Funds.
- The team is confused and worried about the changes in the product.
According to the sources or reports, the publicly-traded company WWE is sold to Saudi Arabia’s Public Investment Fund. The recent exit from WWE was of Vince McMahon from the role of CEO of the company.
The rumor of the return of the former CEO Vince McMahon is also heating up. It is unknown that he has returned as the head of the creation of the company.
WWE CEO Stephanie McMahon Resignation & Vince McMahon Return
The news of the sale came into highlight just after the resignation of the current CEO of the company Stephanie McMahon, Vince’s Daughter. Steph took the charge as CEO of the company last year after she stepped down amid charges of sexual misconduct. Now, after Steph’s down coming, it leaves Nick Khan as the sole CEO of the company.
Stephanie McMahon’s husband and former wrestler “Triple H” is currently the chief content officer of the company and there is no news of his resignation.
The deal is in outstanding as the company has not notified its shareholders yet. The WWE is a publicly traded company and it cannot be sold to public Investment without its shareholder’s confirmation.
There is a trend of LGBT in WWE and after being sold to Saudi Arabia’s Public Investment, it will be strictly prohibited. The team is confused and worried about the changes in the product that will be made after the sale.
