Payback from former WWE chief


File photo of World Wrestling Entertainment owner Vince McMahon in New York

BENGALURU: World Wrestling Entertainment Inc (WWE) says executive chairman Vincent McMahon has paid US$17.4mil (RM77mil) to the company to cover costs related to an investigation into his alleged misconduct.

McMahon, credited with transforming WWE from a regional player to a global giant, retired as CEO and chairman of the company in July last year. He returned to the board in January, after the probe was wrapped up.

The Wall Street Journal had reported that he was being investigated by the board for agreements to pay US$12mil (RM53mil) over the past 16 years to suppress allegations of sexual misconduct and infidelity.

WWE said in January that it would explore strategic alternatives. McMahon said he would involve himself in the company’s media rights acquisition process as it looks to capitalise on growing demand for content and live entertainment. — Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Notion VTec gets UMA query on sharp rise in share price
TM, Singtel’s Nxera form JV to develop next-gen data centres
Sunview bags RM79mil solar EPCC contract in Bulgaria
Proton achieves five million vehicle units produced in 41 years
Ringgit ends higher against US dollar
Bursa Malaysia in talks with Mulia Property for TRX relocation
Fahmi: Malaysia ready to roll out dual 5G network
Plytec wins RM26.3mil contact from Setiakon Builders
Poh Kong’s 3Q net profit jumps 51.6% to RM47.6mil
Nestcon bags two contracts worth RM165mil

Others Also Read