Latest news with #BrandonThurston
Newsweek
5 days ago
- Business
- Newsweek
Vince McMahon Sells Significant Amount Of TKO Shares
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Former WWE Chairman Vince McMahon has continued to divest his holdings in TKO Group Holdings, selling another significant block of stock valued at approximately $250 million. This latest transaction, detailed in an SEC filing made on Wednesday, June 4, 2025, saw Endeavor purchase the shares from McMahon. Endeavor, the majority owner of TKO, was taken private by equity firm Silver Lake earlier this year. The filing indicates that Endeavor acquired 1,579,080 shares of Class A common stock from McMahon at $158.32 per share. This sale reduces McMahon's remaining stake in TKO Group Holdings, the parent company of WWE and UFC. According to Wrestlenomics' Brandon Thurston, assuming no other transactions since September 2024, McMahon now holds 6,442,325 shares of TKO, which represents approximately 3% ownership of the company. More news: WWE News: Steve Austin Reveals Real-Life Vince McMahon Confrontation It's important to note that McMahon has no voting rights within TKO. This $250 million sale is part of a larger pattern of divestment by McMahon. Fourteen months ago, around April 2024, he initially listed all of his TKO stock, then over 8 million shares, for sale. Between late 2023 and the spring of 2024, McMahon had already liquidated over $1.5 billion in TKO stock through five distinct sales transactions. Chairman of World Wrestling Entertainment, Vince McMahon, attends the World Wrestling Entertainment "Denver Debacle" press conference at the Hard Rock Cafe, Times Square on May 21, 2009 in New York City. Chairman of World Wrestling Entertainment, Vince McMahon, attends the World Wrestling Entertainment "Denver Debacle" press conference at the Hard Rock Cafe, Times Square on May 21, 2009 in New York new sale to Endeavor now pushes his total TKO stock sales well beyond the $2 billion mark since the TKO merger in September 2023. McMahon resigned as TKO Executive Chairman and from the TKO board in January 2024. His departure followed the filing of a lawsuit by former WWE employee Janel Grant, which includes serious allegations of sexual assault and sex trafficking against McMahon, which he has denied. He also remains a defendant in the "ring boys" lawsuit, alleging negligence related to past abuse, and a shareholder lawsuit concerning the TKO merger process. Amidst these legal challenges, McMahon has been establishing a new sports, entertainment, and media investment firm named 14TH & I, signaling his focus on ventures outside the company he led for decades. There have been rumors that McMahon is interested in buying back WWE, and if he is, then that's great. However, not only does he not have the cash to do so, but also, Endeavor is not looking to sell WWE, which is making them major cash right now. More WWE News: For more on WWE, head to Newsweek Sports.
Yahoo
26-02-2025
- Business
- Yahoo
Report: WWE Employee Morale Has Been Declining, Staff Upset With Minimal Raises
According to new reports, morale among WWE employees is down due to multiple factors. Business has been booming for WWE, as the company has reported record numbers since they merged with UFC to form TKO. However, staff members are reportedly unhappy. Brandon Thurston of Wrestlenomics reports that multiple current WWE employees spoke of a 'decline in morale', and reduced benefits, limited pay increases, and heavier workloads were named as factors. Thurston writes that TKO's projected annual revenue is expected to be between $2.67 billion and $2.75 billion. The employees Thurston spoke with also said that they felt a 'growing disconnect between corporate messaging and their daily experiences,' as multiple staff members said they felt increasingly undervalued. The report also highlights the end of some benefits, including the end of WWE's stock purchase program and the WWE Superstar program, which allowed employees to reward each other with points redeemable for rewards. Thurston writes that the elimination of WWE's complimentary live event tickets for employees was another source of frustration. Furthermore, while WWE continues to report record financial success, these employees said that it hasn't led to 'meaningful pay increases', as multiple staffers said they received a 3% cost-of-living raise this year, which they claim 'hardly keeps pace' with rising living costs in the region. Likewise, employees who had strong performance reviews were told that they wouldn't get more than a cost-of-living 'adjustment' due to 'budget constraints set by upper management.' While some were expecting raises based on past practices, they were told that increases would not be feasible due to the merger. Thurston also cites employees who said that morale among staffers has been 'declining for some time now.' Employees were said to be discouraged by the lack of meaningful raises, and concerns that were brought up to lower-and-middle-level managers were linked to decisions that those at the executive level made. Thurston cites sources who indicated that they felt frustrated with these changes following the merger, and while they respected WWE, they wanted to be compensated for their work. These sources also expressed that they were 'surprised' by the direction that WWE has taken since their transaction with Endeavor. Employees also noted that their workloads have increased, as some said they're working 50 to 60 hours a week, especially during WrestleMania season. Some employees noted that they had been assigned 'additional UFC-related tasks' following the merger, and they expressed their concern that as TKO continues to expand, WWE's staff will have to take on more work without being compensated for it. Lastly, Thurston cites one WWE employee who said that 'morale has suffered' to the point that some staffers feel less inclined to go above and beyond the way they did before. Mike Johnson of PWInsider confirmed that employees had been talking about the increased workload, as well as the minimum bonuses and annual raises. Johnson confirmed the part about how some WWE employees are upset about hearing how great WWE is doing while the staff is dealing with the aforementioned issues. RELATED: The post Report: WWE Employee Morale Has Been Declining, Staff Upset With Minimal Raises appeared first on Wrestlezone.
