While speaking at a technology, media & telecom conference in San Francisco hosted by Wall Street firm Morgan Stanley today (Mar. 6), TKO President Mark Shapiro again reminded investors that Vince McMahon is no longer involved with WWE’s parent company in any way. McMahon resigned from all roles at TKO & WWE after being accused of sexual abuse & manipulation in a lawsuit filed by former WWE employee Janel Grant in late January.
Shapiro brought up McMahon’s sale of more than $400 million in TKO shares earlier this week to make the point that their ex-Executive Chairman is gone for good:
“We did not participate in the recent sale … We’re not in conversations with him. We don’t know his motives, his plans or his timeline. He doesn’t work for the company, doesn’t come into the office and he’s not coming back to the company. And that’s where we sit.”
During TKO’s investor call last week, Shapiro said the company had not been in contact with McMahon about his stake in the company. This statement goes a bit further to make it clear they don’t plan to reengage with McMahon even though he still owns approximately 8.5% of all TKO shares after the stock sale this week and a larger one last November.
Laura Davis is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Broadway, she offers readers an insider’s perspective on the world of movies, music, and pop culture.
