WWE sold to Saudi Arabia's Public Investment Fund: Reports
The news made rounds hours just after Stephanie McMahon stepped down as the chairperson of the WWE board and her father, Vince McMahon, returned as its chairman.
WWE has been sold to Saudi Arabia's Public Investment Fund, according to multiple reports.
The news made rounds hours just after Stephanie McMahon stepped down as the chairperson of the WWE board and her father, Vince McMahon, returned as its chairman.
Vince took the decision to make the company a private business once again, as per a report by Dazn pro-wrestling reporter Steven Muehlhausen.
WWE was previously owned by Titan Sports, who applied for Initial Public Offering (IPO) and list the company on New York Stock Exchange in October 1999.
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Vince's history with WWE
Vince resigned as the chairman in July 2021 after reports of sexual misconduct surfaced against him. He had paid over $12 million to four women associated with the company to cover up claims of sexual misconduct and infidelity for over 16 years, the Wall Street Journal reported.
Stephanie was appointed as the chairwoman and co-CEO of WWE after her father stepped down.
Meanwhile, her co-CEO Nick Kahn is the only CEO of WWE. Stephanie's husband and WWE legend Paul "Triple H" Levesque will continue his role in the company as its chief content officer.
YourStory reached out to the WWE team at the time of publication. The firm has not responded yet.
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Edited by Akanksha Sarma
