On January 25, a lawsuit was filed by former WWE employee Janel Grant against Vince McMahon, WWE and former executive John Laurinaitis. The lawsuit accuses McMahon of sex trafficking, emotional abuse, and sexual assault.
McMahon denied the allegations, but resigned from his position as TKO Executive Chairman after the allegations came out and Slim Jim paused its promotional partnership with WWE.
On March 4, McMahon sold 5,350,000 shares of his TKO Stock.
At the Morgan Stanley Technology, Media, & Telecom Conference, TKO President Mark Shapiro was asked if TKO participated in the sale.
We did not participate in the recent sale on Vince McMahon's load that he dropped off. This is now his second time. He's gone from 28 million shares to 15 million shares. He now roughly has 8.5%. We're not in conversation with him. We don't talk to him, we don't know his motive, his plan, his timeline, what if any, he doesn't consult with us. He doesn't work for the company. He doesn't work at the company. He doesn't come into the offices. He's not coming back to the company," he said.
That settles that.
Elsewhere during the call, Shapiro commented on WWE Raw moving to Netflix. You can find his full comments by clicking here.
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