TKO stock falls as Vince McMahon plans to sell big chunk of his stake in WWE parent
Publishing timestamp: 2023-11-10 11:56:32
Summary
Vince McMahon, the chairman of TKO, plans to sell a substantial chunk of his stake in the company. He intends to sell 8.4 million shares, worth about $700 million. This move could indicate that McMahon plans to exit his family business, which has been a dominant player in professional wrestling for decades. TKO is majority owned by Endeavor Group, and McMahon is the executive chairman. The article also mentions that McMahon was served with a federal grand jury subpoena related to allegations of sexual misconduct and that Endeavor is exploring strategic alternatives.
Sentiment: NEUTRAL
Keywords: world wrestling entertainment inc, business, sports, breaking news: business, business news, media, endeavor group holdings inc,