In a press release and SEC filing Thursday, TKO, the company formed from the merger of WWE and UFC, announced that Vince McMahon is selling 8.4 million shares of his stock.
The news follows an announcement in September that 28 million shares of McMahon's TKO stock — all of it — would be placed up for sale. But while that filing expressed a future intent, this one is slightly different, as the sale is underwritten by Morgan Stanley and MUFG Securities Americas, meaning the banks have promised to sell the shares for McMahon, with McMahon keeping the profits .
While it's not totally clear what McMahon's future plans are, and whether this heralds his exit from the company, the announcement does follow reports that McMahon was removed from creative control of WWE television programs and directed to focus on securing television rights deals for the company instead.
Vince Mcmahon TKO Stock Sale Press Release SEC Filing Merger WWE UFC Shares Morgan Stanley MUFG Securities Americas
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WWE's Sale to Endeavor Finalized, No Crossover with UFCMcMahon is expected to sell 25 percent of his shares.
Read more »
Ashford Hospitality plans to sell more hotels to reduce debtDallas-based Ashford Hospitality Trust – which is surrendering more than a dozen of its hotels to lenders – plans to sell more of its properties to pay off...
Read more »
Morgan Stanley says consumers looking for 30% discounts on holiday shopping before buying, sell retail stocksRetailers will be competing for a budget pool that is similarly sized to last year and will have to entice shoppers with more competitive prices.
Read more »
Train AI models to sell as NFTs, LLMs are Large Lying Machines: AI EyeTrain up kickass AI models to sell them as NFTs in AI Arena, how often GPT-4 lies to you, and fake AI pics in the Israel/Gaza war: AI Eye.
Read more »
Rivian Will Now Sell You Its Electric Cargo VanJack Fitzgerald’s love for cars stems from his as yet unshakable addiction to Formula 1. After a brief stint as a detailer for a local dealership group in college, he knew he needed a more permanent way to drive all the new cars he couldn’t afford and decided to pursue a career in auto writing.
Read more »
Tesla's stock drops 4% after sell rating from HSBCTesla’s stock gets a sell rating from HSBC analysts
Read more »