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A recent corporate development in WWE has caught the attention of many in the wrestling industry. According to Brandon Thurston from Wrestle Nomics, TKO Group Holdings has made a significant transaction by purchasing shares from Vince McMahon.
In the latest filing, it has been revealed that TKO Group is acquiring 1,853,724 shares for approximately $150 million, while Endeavor is buying 1,642,970 shares for $142.6 million. This amounts to a total of around $293 million changing hands in these two agreements.
Once the transactions are finalized on Tuesday and Wednesday of this week, Vince McMahon will retain 8,021,405 TKO Group shares, giving him a 4.7 percent ownership stake in the company. More details can be found in the filing on TKO Group’s official website.
This news has caused quite a stir in the wrestling community, with fans and analysts alike speculating on the implications of this deal. Many are curious to see how this move will impact WWE’s future direction and corporate structure.
Overall, this transaction represents a significant shift in the ownership landscape of WWE, and it will be interesting to see how things unfold in the coming weeks and months. Stay tuned for more updates as the story continues to develop.
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