Latest news with #Ex-WWE
Yahoo
09-06-2025
- Business
- Yahoo
Vince McMahon Sells $250 Million of TKO Shares to Endeavor Group Holdings
Vince McMahon has sold a big tranche of his stock in TKO Group to Endeavor Group Holdings, the majority shareholder of the parent company of WWE and UFC. On June 3, 2025, Endeavor Group Holdings — now a privately held company that is the parent company of WME Group — entered into an agreement to purchase 1.579 million shares of TKO's Class A common stock from McMahon in a private transaction at a per-share price of $158.32 for aggregate consideration of approximately $250 million, according to an SEC filing Wednesday. The transaction closed on June 4, according to the filing. McMahon is the former CEO of WWE who sold the wrestling entertainment company to Endeavor in 2023 to form TKO. More from Variety Ex-WWE Employee Who Accused Vince McMahon of Sexual Abuse Reaches Settlement With Former Exec John Laurinaitis AEW Commentator Jim Ross Announces Colon Cancer Diagnosis: 'I Appreciate Your Concern and Support' CW Boss on NXT's Move to the Broadcast Network: 'It's Been an Absolute Game Changer' Endeavor Group now owns 61.7% of TKO's outstanding stock, per an ownership disclosure filed with the SEC Wednesday. Endeavor was taken private earlier this year in a $25 billion deal with private-equity firm Silver Lake. As of April 15, 2025, McMahon owned about 8 million TKO shares, representing a 9.8% economic stake in the company and voting power of 4.1%, according to TKO's most recent 10-K. With the latest stock sale, McMahon has now sold more than $2 billion worth of TKO shares to date. That included his stock sales to TKO and Endeavor worth $311.2 million in April 2024. McMahon had joined the board of TKO Group but resigned as a director in January 2024 in the wake of sexual assault and sex trafficking allegations against him by a former WWE employee as detailed in a civil lawsuit. McMahon has strongly denied the allegations. Correction: An earlier version of this story incorrectly said Vince McMahon sold TKO shares to WME Group; in fact, McMahon sold the shares to Endeavor Group Holdings, the parent company of WME Group. Best of Variety What's Coming to Netflix in June 2025 New Movies Out Now in Theaters: What to See This Week 'Harry Potter' TV Show Cast Guide: Who's Who in Hogwarts? Sign in to access your portfolio
Hindustan Times
05-06-2025
- Entertainment
- Hindustan Times
Will Adam Pearce replace Jey Uso at MITB 2025 with a WWE veteran?
Things are looking rough for Jey Uso heading into Money in the Bank 2025. On this week's episode of Monday Night RAW, Seth Rollins and his crew launched a vicious attack on Jey. To make matters worse, Bronson Reed hit him with multiple Tsunamis, leaving fans seriously worried about how Jey's holding up—especially with a huge tag team match just days away. Jey is scheduled to team up with Cody Rhodes this Saturday to take on John Cena and Logan Paul. But after what went down on RAW, there's real concern he won't be cleared to compete. And that's not the only thing on Jey's plate. He's also got to defend his World Heavyweight Title against Gunther next week on RAW. Between that and all the enemies he's got right now—Rollins' crew, Cena and Logan, and Gunther—he's being pulled in every direction. It's no surprise that RAW GM Adam Pearce might have to step in and pull Jey from the tag match at MITB for the sake of his health. Also Read: 'Why isn't Brock Lesnar getting fired?': Ex-WWE writer questions Adam Pearce If that happens, fans are already speculating about a possible replacement. The most obvious (and dramatic) choice? Jey's own brother, Jimmy Uso. Sure, the two have had their ups and downs, but when it really matters, Jimmy's always shown up for Jey. If Jey can't go, Jimmy stepping in would make for one heck of a moment. That said, nothing is official yet. We still don't know the full extent of Jey's injuries, and Pearce hasn't made any announcements. Meanwhile, Gunther isn't wasting time. The Ring General is locked in on getting his title back from Jey, and he's been pretty vocal about it. He lost to Jey at WrestleMania 41 after tapping out, but on RAW this week, he made it clear he's ready for revenge. 'Because ever since that day I lost to you at WrestleMania, I knew I'd avenge this. And right now? You're making it very, very easy for me. Jey in one week, the party is over.' Gunther clearly thinks Jey's taking on too much—and honestly, he might have a point. Jey hasn't even held the title for two months yet, and while WWE usually lets champs keep the belt a while, this could be one of those rare moments where they shake things up fast. If Jey's not at 100%, Gunther could easily take advantage and walk out with the gold. Jey Uso's got a brutal week ahead of him—if he can even make it to Saturday. And right now, nothing feels guaranteed.
Sunday World
07-05-2025
- Sunday World
Ex-WWE star arrested for trying to buy child abuse material on dark web
He tried to use cryptocurrency to make the purchase, but the transaction was blocked and flagged to the FBI Ex-WWE star Michael Droese has been arrested for trying to purchase child sexual abuse material. Droese, a former wrestler known as Duke 'The Dumpster' Droese during his career at the wrestling promotion from 1994 to 1996, was indicted by a Tennessee grand jury on one count of attempted sexual exploitation of a minor, a Class D felony. Prosecutors allege he tried to buy child sexual abuse material on the dark web in April 2024. The 56-year-old tried to use cryptocurrency to make the purchase, but the transaction was flagged and blocked by Coinbase who then alerted the FBI. The tip was passed to local authorities in Warren County, and the Tennessee Bureau of Investigation was brought in to assist with the inquiry. Droese turned himself in to police and was booked, and later released after posting a $10,000 bail. He is scheduled to appear in Warren County Circuit Court on May 28 for arraignment. If convicted, he faces a sentence of two to four years in prison. At the time of the alleged offence, Droese was employed as a DUI coordinator with the 31st Judicial District Adult Recovery Court Program where he held numerous roles over the years. District Attorney General Chris Stanford confirmed he did not work directly with children, and was fired from his job immediately. Stanford said that the charge is classified as aggravated due to Droese's intent to purchase child sexual abuse material. Michael Droese aka Duke 'The Dumpster' Droese mugshot The News in 90 Seconds - Wednesday, 7th of May 'The financial transaction is what fuels the production and distribution of such material globally, making this a particularly serious offense,' he said. A 2009 article by the WWE revealed that the California man had changed careers and became a school teacher for kids with learning disabilities and began coaching high school athletes. He resigned from his role in 2013 after he was caught selling oxycodone to an undercover agent and given a one-month prison sentence. Drose was a popular WWE star in the 90s, developing on-screen rivalries with figures such as Jerry 'The King' Lawler and Paul 'Triple H' Levesque. He left the WWE in 1996 but continued to wrestle in smaller promotions internationally.
