World Wrestling Entertainment

2007-10-15T21:38:00.000-07:00

World Wrestling Entertainment, Inc. (WWE) is a publicly traded, privately controlled integrated media (focusing in television, Internet, and live events), and sports entertainment company dealing primarily in the professional wrestling industry, with major revenue sources also coming from film, music, product licensing, and direct product sales. Vince McMahon is the majority owner and Chairman of the company and his wife Linda McMahon holds the position of Chief Executive Officer (CEO). Together with their children, Executive Vice President of Global Media Shane McMahon and Executive Vice President of Talent and Creative Writing Stephanie McMahon-Levesque, the McMahons hold approximately 70% of WWE's economic interest and 96% of all voting power in the company.
The company's global headquarters are located at 1241 East Main Street in Stamford, Connecticut. It has offices in Los Angeles and in New York City; its international offices are located in both London and Toronto. The company was previously known as Titan Sports before changing to World Wrestling Federation Entertainment, Inc., and most recently becoming World Wrestling Entertainment, Inc.
WWE's business focus is on professional wrestling, the simulated sport combining original wrestling with scripted drama and pre-determined outcomes. It is currently the largest professional wrestling promotion in the world, and holds an extensive library of videos representing a significant portion of the visual history of professional wrestling. The promotion previously existed as the Capitol Wrestling Corporation, which promoted under the banner of the World Wide Wrestling Federation (WWWF), and later the World Wrestling Federation (WWF). WWE promotes under three brands; RAW, SmackDown! and ECW. WWE is also home to two of the three current world heavyweight championships recognized by Pro Wrestling Illustrated.
WWE's revenue in fiscal 2006 (from May 2005 to April 2006) was approximately US$400 million, with a net profit of approximately $47 million. As of August 2006, the company's market capitalization is over $1 billion. Its stock is traded on the NYSE as WWE.
WWE is currently under investigation by the United States House Committee on Oversight and Government Reform regarding their talent wellness policy, after the death of one of their performers possibly being linked to steroid abuse.[3]
In August 2007, WWE made the decision to suspend ten professional wrestlers for violating their Wellness Policy after it emerged they were all customers of Signature Pharmacy in Orlando, Florida. According to a statement attributed to WWE attorney Jerry McDevitt, an eleventh wrestler was later added to the suspension list. [4]
On September 26, 2007, it was announced that WWE would be expanding its international operations. Alongside the current international offices in London and Toronto, a new international office would be established in Sydney

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