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Item 8.01. Other Events.
On March 24, 2020, Vincent K. McMahon (“Mr. McMahon”), Chairman and Chief Executive Officer of World Wrestling Entertainment, Inc. (the “Company”), entered into a variable prepaid forward contract with an unaffiliated bank (the “Bank”) covering approximately 3.5 million shares of the Company’s Class B common stock. The variable prepaid forward contract is scheduled to settle on specified dates in March 2024, at which time the actual number of shares of the Company’s Class A common stock to be delivered by Mr. McMahon will be determined based on the price of the Company’s Class A common stock on such dates, with the aggregate number not to exceed approximately 3.5 million shares, which is the number of shares of Class B common stock pledged by Mr. McMahon to secure his obligations under the contract. Subject to certain conditions, Mr. McMahon can also elect to settle the variable prepaid forward contract in cash and thereby retain full ownership of the pledged shares.

Mr. McMahon entered into the variable prepaid forward contract to provide current liquidity while allowing him to maintain voting and ordinary dividend rights in the stock, as well as the ability to participate in future stock price appreciation, during the term of the contract and thereafter if Mr. McMahon settles the variable prepaid forward contract in cash.

The shares covered by the variable prepaid forward contract represent approximately 4.5% of the Company’s total outstanding shares of Class A and Class B common stock. The variable prepaid forward contract does not apply to the approximately 25,198,344 other shares of Class B common stock beneficially owned by Mr. McMahon. Those shares represent approximately 70.5% of the Company’s total voting power. The variable prepaid forward contract contains a 60-day lock-up restricting Mr. McMahon’s ability to sell or transfer additional shares of the Company’s common stock during such period without the Bank’s prior approval. Mr. McMahon has informed us that he intends to continue in his capacity as the Company’s Chairman and Chief Executive Officer for the foreseeable future.


I'll leave this to the WFs business experts...
 

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I completely expect Vince to work until death forces him out the door. Say what you will about him as a person, but he's got one of the greatest/craziest work ethics ever. He's one of those people you hear about that dies right after they retire, without the constant business he'd just cease to function IMO.

I certainly don't wish death on him or anyone, but there's a large amount of curiosity in how the pro wrestling business will function without Vince McMahon. Without Vince McMahon, pro wrestling probably wouldn't exist today, at least not as the televised product we know it as. He took wrestling to national TV and worldwide expansion, NWA/WCW followed suit, ECW had a working relationship with the WWF, and every wrestling company currently in existence uses wrestlers, concepts, production and gimmicks pioneered by Vince's vision in the 70s/80s to the present. What fascinates me is how WWE will go, with all the resources it has, under the vision of someone who is not Vince. Someone who has been in the inner circle of WWE management, and can take the positive things Vince does, take away the negative aspects of how Vince does wrestling, and put it on a worldwide scale.

In a sense, that'll be a bigger thing than any competition that has come WWE's way, or could ever come WWE's way. The Jarretts and Dixie Carter tried with TNA, but ultimately they used too many old heads that had been through Vince's factory, and alternated between being WCW-lite and WWE-lite. Even presently with AEW, it's very enjoyable and so far a vast improvement on how TNA did things, but they're still a fledging company, without the resources and brand recognition of WWE. Tony Khan is a very intelligent businessman by all appearances, but when it comes to his actual pro wrestling experience, he's an old fan of the Attitude Era with money. That's not a knock, I'm just saying that's the way it is.

WWE's eventual change in ownership when Vince goes will be the first time ever that company has ever been run under a different philosophy.
 

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Not sure I understand the point of this thread or the point of the article that this thread was made about.

Vince McMahon REGARDLESS of what that article says or doesn't, is running WWE and will run WWE until he retires. Even when he retires, he will have influence over the operations within the company. His entire family runs it. PERIOD
 

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'Foreseeable' being the key word. This company was showing signs of trouble even before the virus.
 

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Because he owns it. If there's a store you don't like how it's run and the prices are too high you aren't going to protest for the owner to be changed you just won't go there. You can also not watch WWE.
That analogy doesn't work at all. Most stores don't sell products unique to just that store. If you went to a deli for example, and the owner was a prick, you could easily enough go to another one and get your cold cuts of the same quality at a cheaper price elsewhere. But WWE is a unique entertainment entity. You can watch another pro wrestling company, but it's not the same product. If you love the wrestlers in WWE, you have to put up with Vince. There's no getting around that.
 

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That analogy doesn't work at all. Most stores don't sell products unique to just that store. If you went to a deli for example, and the owner was a prick, you could easily enough go to another one and get your cold cuts of the same quality at a cheaper price elsewhere. But WWE is a unique entertainment entity. You can watch another pro wrestling company, but it's not the same product. If you love the wrestlers in WWE, you have to put up with Vince. There's no getting around that.
Exactly you either put up with the owner or don't watch. There's no point in trying to vote him out or complain he's not going anywhere. That was my point. The analogy does work because you have to put up with the owner or go away. Of course wrestling is not exactly the same as a store.
 

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In other words, Vince will continue to run the company until the day he dies. As if anyone didnt know that....
 
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