NEW YORK (AP) — The longtime World Wrestling Leisure impresario Vince McMahon agreed to pay greater than $12 million over the previous 16 years to suppress allegations of sexual misconduct and infidelity, the Wall Road Journal stories.
The quantity is considerably bigger than what was beforehand recognized.
4 ladies — all previously affiliated with WWE — signed agreements with McMahon, 76, that bar them from discussing their relationships with him, the Journal reported on Friday, citing individuals acquainted with the offers and paperwork it reviewed.
McMahon stepped down as CEO and chairman of WWE in mid-June throughout an an investigation into the alleged misconduct and the Journal reported on the time that he had agreed to pay $three million to a former paralegal who stated he sexually harassed her on the job.
McMahon will proceed to supervise WWE’s inventive content material in the course of the investigation.
WWE named McMahon’s daughter, Stephanie, interim CEO and chairwoman in the course of the investigation into his alleged misconduct although he continued to supervise the corporate’s inventive aspect. The group said on the time that it’s going to don’t have any additional remark till the investigation is over.
McMahon has been the chief and most recognizable face at WWE for many years. When he bought what was then the World Wrestling Federation, from his father in 1982, wrestling matches passed off at small venues and appeared on native cable channels.
WWE matches at the moment are held in skilled sports activities stadiums and the group has a sizeable abroad following. It has a broadcast partnership with the Saudi media firm MBC Group.
The group underwent a seismic transformation below McMahon with occasions like WrestleMania, a premium stay manufacturing that pulls thousands and thousands of fervent viewers.
Income final 12 months exceeded $1 billion for the primary time and the corporate has tv offers with Fox and NBCUniversal. Final month it introduced a multiyear enlargement of its unique programming partnership with A&E.
WWE stars have develop into crossover sensations, together with Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Chilly” Steve Austin and John Cena.
Shares of World Wrestling Leisure Inc., based mostly in Stamford, Connecticut, dropped 2% on Friday.
