Stamford, Connecticut, July 22, 2022 – Today Vince McMahon released the following statement:
“As I approach 77 years of age, I feel it is time for me to retire as WWE Chairman and CEO. Over the years, it has been a privilege to help WWE bring you joy, inspire, excite, surprise and always entertain. I want to thank you My family for strongly contributing to our success and I also want to thank all the stars and past and present employees for their dedication and passion for our brand. Most importantly, I want to thank our fans for letting us into your homes every week and being your choice of entertainment. I have the deepest appreciation and admiration for our generations of fans at All over the world who loved, sometimes loved, sometimes even loved our form of sports entertainment.
“Our global audience can take comfort in knowing that WWE will continue to entertain you with the same enthusiasm, dedication and passion as always. I am absolutely confident in WWE’s continued success, and I leave our company in the hands of an extraordinary group of Superstars, employees and CEOs – in particular, President and Co-CEO Stephanie McMahon and Co-CEO Nick Khan As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks go to our community and business partners, shareholders, and the Board of Directors for their guidance and support over the years. Then. Now. Forever. Together. “
WWE, PJSC (NYSE: WWE), is an integrated media organization and a recognized leader in global entertainment. The company consists of a group of companies that create and deliver original content for 52 weeks of the year to a global audience. WWE is committed to family-friendly entertainment through its television programming, premium live events, digital media and publishing platforms. WWE’s TV-PG programming can be watched in over a billion homes worldwide in 30 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all the premium live action, scheduled programming, a massive VOD library and is currently available in over 180 countries. In the United States, NBCUniversal’s live streaming service, Peacock, is the exclusive home of the WWE Network.
Additional information about WWE can be found at wwe.com and enterprise.wwe.com.
Trademarks: All WWE programming, talent names, photos, likes, logos, wrestling moves, trademarks, logos, and copyrights are the exclusive property of WWE and its affiliates. All trademarks, logos and other copyrights belong to their respective owners.
Forward-looking statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include, but are not limited to, risks related to: the COVID-19 outbreak, which may continue to adversely affect the economies of the world as well as our industry, business and results of operations; Conclude, maintain and renew major distribution and licensing agreements; A rapidly developing and highly competitive media landscape; WWE Network; computer systems, content delivery, and online processes for our company and business partners; privacy rules and regulations; Our need to continue to develop creative and recreational programs and events; our need to retain and continue to employ key personnel; the potential decline in the popularity of our sports entertainment brand; The potential unforeseen loss of the services of Vincent K. McMahon; Potential adverse changes in the regulatory atmosphere and related private sector initiatives; The highly competitive, rapidly changing and increasingly fragmented nature of the markets in which we operate and/or our inability to compete effectively, particularly against competitors with greater financial resources or market presence; Uncertainties associated with international markets including potential disruptions and reputational risks; difficulty or inability to promote and manage our live events and/or other business if we do not comply with applicable regulations; our reliance on our own intellectual property rights, our need to protect those rights, and our risk of infringing the intellectual property rights of others; the complexity of our rights agreements across distribution mechanisms and geographic regions; potential significant liability in the event of accidents or injuries during events requiring physical effort; large public events as well as travel to and from these events; our expansion into new or complementary businesses, strategic investments and/or acquisitions; our accounts receivable; construction and relocation to our new leased corporate and media production headquarters; Lawsuit; a change in tax laws in major jurisdictions; our work in the field of feature films; a possible decline in general economic conditions and disruption in financial markets including any resulting from COVID-19; our indebtedness including our convertible bonds; our potential failure to meet market expectations of our financial performance; Vincent K. McMahon has control of our affairs, and his interests may conflict with the holders of Class A common stock; Our stock buyback program; A large number of shares are eligible for sale by McMahons and selling such shares or visualizing their potential sales could lower our share price; Our regular Class A stock is volatile. Additionally, our earnings depend on a number of factors, including, among other things, historical and projected liquidity and cash flows, the strategic plan (including alternative uses of capital), our financial results and terms, and contractual and legal restrictions on the payment of dividends ( including within the revolving credit facility), general economic and competitive conditions and other factors that our Board of Directors may consider relevant. The forward-looking statements made by the Company speak only as of the date they are made and are subject to change without any obligation on the part of the Company to update or revise them. No undue reliance should be placed on this data. For more information about the risks and uncertainties associated with the Company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, an annual report on Form 10- K and reports quarterly on Form 10-Q.