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 Avenue 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 investigation into the alleged misconduct and the Journal reported on the time that he had agreed to pay $3 million to a former paralegal who mentioned he sexually harassed her on the job.
McMahon will proceed to supervise WWE’s artistic content material through the investigation.
WWE named McMahon’s daughter, Stephanie, interim CEO and chairwoman through the investigation into his alleged misconduct, though he continued to supervise the corporate’s artistic facet. The group said on the time that it’ll 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 happened 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 dwell 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 multi-year growth of its unique programming partnership with A&E.
WWE stars have change into crossover sensations, together with Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Chilly” Steve Austin and John Cena.
Shares of World Wrestling Leisure Inc., primarily based in Stamford, Connecticut, dropped 2% on Friday.