STAMFORD, Connecticut, July 22, 2022 â Vince McMahon released the following statement today:
âAs I approach 77, I feel it is time for me to retire as Chairman and CEO of WWE. Over the years, it has been a privilege to help WWE to bring you joy, to inspire you, to delight you, to surprise you and to always entertain you. I would like to thank my family for their powerful contribution to our success, and I would also like to thank all of our Superstars and employees past and present for their dedication and passion for our brand. Most importantly, I want to thank our fans for allowing us into your home every week and for being your choice of entertainment. I have the deepest appreciation and admiration for our generations of fans around the world who have loved, currently love and sometimes even love our form of sports entertainment.
âOur global audience can take comfort in knowing that WWE will continue to entertain you with the same fervor, dedication and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the able hands of an extraordinary group of Superstars, employees and executives – in particular, Chairman and Co-CEO Stephanie McMahon and Co -CEO Nick Khan. As majority shareholder, I will continue to support WWE in any way I can. I personally thank our community and business partners, our shareholders and our Board of Directors for their guidance and support over the years. So. Now. Still. Together.”
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and a recognized leader in global entertainment. The company consists of a portfolio of companies that create and deliver original content 52 weeks a year to global audiences. WWE is committed to providing family entertainment on its television programming, premium live events, digital media and publishing platforms. WWE TV-PG programming can be seen in more than one billion homes worldwide in 30 languages ââthrough world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a huge library of on-demand videos and is currently available in over 180 countries. In the United States, NBCUniversal’s streaming service Peacock is the exclusive home of WWE Network.
Additional WWE information is available at wwe.com and corporate.wwe.com.
Brands: All WWE schedules, talent names, images, likenesses, slogans, wrestling moves, marks, logos and copyrights are the exclusive property of WWE and its affiliates. All other trademarks, logos and copyrights are the property of 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 global economies as well as our industry, business and results of operations; enter into, maintain and renew major distribution and licensing agreements; a rapidly changing and highly competitive media landscape; WWE Network; the computer systems, content delivery and online operations of our Company and our business partners; privacy standards and regulations; our need to continue to develop creative and entertaining programs and events; our need to retain and continue to recruit key artists; the possibility of a decline in the popularity of our sports entertainment brand; the possible unexpected loss of the services of Vincent K. McMahon; possible adverse changes in the regulatory environment 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 with competitors with greater financial resources or market presence; uncertainties associated with international markets, including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and/or other activities if we fail to comply with applicable regulations; our reliance on our intellectual property rights, our need to protect those rights, and the risks of our infringement of the intellectual property rights of others; the complexity of our rights agreements across distribution mechanisms and geographies; potential substantial liability for accidents or injuries occurring at our physically demanding events; major public events as well as travel to and from such events; our expansion into new or complementary businesses, strategic investments and/or acquisitions; our accounts receivable; construction and relocation of our new leased corporate and media production headquarters; dispute; a change in the tax laws of key jurisdictions; our feature film business; possible deterioration in general economic conditions and disruption of financial markets, including those resulting from COVID-19; our debt, including our convertible notes; our potential inability to meet market expectations regarding our financial performance; Vincent K. McMahon exercises control over our affairs and his interests may conflict with the holders of our Class A common stock; our share buyback program; a substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of such shares could cause our share price to decline; and the volatility of our Class A common stock. In addition, our dividend is dependent on a number of factors, including, among other things, our historical and projected liquidity and cash flows, our strategic plan (including other uses of capital), our results and financial condition, contractual and legal restrictions on the payment of dividends (including under our revolving credit facility), general economic and competitive conditions and any other factors that our advice d administration may deem relevant. 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. Undue reliance should not be placed on these statements. For more information on 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 filings. by the Company with the SEC, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q.