22.07.2022
“As I approach the age of 77, I feel it is time for me to step down as Chairman and CEO of WWE. Throughout the years, it has been a privilege to help WWE bring you joy, inspire, excite, surprise and always entertain you. I would like to thank my family for their strong contribution to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I’d like to thank our fans for allowing us into your homes every week and being your entertainment choice. 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.
“Our global audience can take comfort in knowing that WWE will continue to entertain you with the same fire, dedication and passion as always. I am extremely confident in the continued success of WWE and leave our company in the capable hands of an incredible group of Superstars, employees and executives – in particular, Chairman 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 to our community and business partners, shareholders and Board of Directors for their guidance and support over the years. Then. Now. Forever. Together.”
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The company consists of a portfolio of businesses that create and distribute original content 52 weeks a year to a global audience. WWE is committed to family entertainment across its television programming, premium live events, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 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 premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. IN
Additional information on WWE can be found at wwe.com and corporate.wwe.com.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, 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 in accordance with the securities provisions of the Securities Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include, without limitation, risks related to: the outbreak of COVID-19, which may continue to adversely affect global economies, as well as our industry, business and results of operations; entering into, maintaining and renewing key distribution and licensing agreements; a rapidly evolving and highly competitive media landscape; The WWE Network; the computer systems, content delivery and online operations of our Company and our business partners; privacy norms and regulations; our need to continue to develop creative and entertaining programs and events; our need to retain and continue to recruit top performers; the possibility of a decline in the popularity of our sports entertainment brand; the potential unexpected loss of the services of Vincent K. McMahon; potential 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 against competitors with greater financial resources or market presence; uncertainties related to international markets, including potential disruptions and reputational risks; our difficulties or inability to promote and conduct our live events and/or other business if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights and the risks of infringement of the intellectual property rights of others; the complexity of our rights arrangements in distribution mechanisms and geographic areas; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events; major public events and travel to and from such events; our expansion into new or complementary businesses, strategic investments and/or acquisitions; our accounts receivable; construction and relocation to our new corporate headquarters and media rental; judicial process; a change in the tax laws of major jurisdictions; our feature film business; a possible decline in general economic conditions and disruption in financial markets including any resulting from COVID-19; our indebtedness including our convertible notes; our potential failure to meet market expectations of 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 stock repurchase program; a substantial number of shares are eligible for sale by McMahons and the sale, or the perception of potential sales, of these shares could reduce our stock price; and the volatility of our Class A common stock. In addition, our dividend depends on a number of factors, including, but not limited to, our liquidity and historical and projected cash flow, strategic plan (including alternative use of capital), our financial results and conditions, contractual and legal restrictions on the payment of dividends (including our revolving credit facility), general economic and competitive conditions and other factors that our Board of Directors may deem relevant. Forward-looking statements made by the Company speak only as of the date made and are subject to change without the Company undertaking any obligation to update or revise them. Undue reliance should not be placed on these statements. For more information regarding 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, annual report on Form 10-K and quarterly reports on Form 10-Q.
Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20220722005469/en/
Media contact:
Chris Legentil
203-352-8793
[email protected]
Investor contact:
Seth Zaslow
203-352-1026
[email protected]
Source: WWE
