German 136 Chapter 1 Worksheet
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Borakovsky IvanovskyGerman 136 Chapter 1 Worksheet
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Borakovsky IvanovskyCalifornia State University, Northridge - Fall 2023
German 136, Chapter 1 Worksheet
Professor Williams, Section 1
July 16, 2023
Nevertheless, On July 22, Vince McMahon officially announced his retirement from WWE
and named his daughter Stephanie McMahon, the company's new permanent chairwoman
and co-CEO (alongside Nick Khan). Interestingly, Triple H then replaced Vince McMahon as
Head of WWE creative.
Class Date: 13/6/2024
Instructor’s Note: Include page numbers in your submission.
GENERIC CONTENT:
## Conclusion (List)
- ==== TKO executive chairman and second resignation ====
It was announced on January 6, 2023, by The Wall Street Journal that McMahon was
planning a return to WWE as executive chairman, ahead of upcoming media rights
negotiations in 2024 and also to explore a potential sale of the company.
- On January 6, WWE published a filing with the SEC, appointing Vince McMahon by himself,
George Barrios and Michelle Wilson back to the WWE Board of Directors.
## Discussion
On January 10, McMahon assumed the role of executive Chairman of the WWE. On April 3,
Endeavor Group Holdings announced a deal under which WWE would merge with the
Ultimate Fighting Championship (UFC) to form a new publicly traded company trading
under the symbol "TKO".
## Background (List)
- Endeavor will hold a 51% stake in TKO, with WWE's shareholders having a 49% stake,
valuing WWE at $9.3 billion.
- McMahon will serve as the executive chairman of TKO and oversee the new company's
WWE and UFC divisions.
- Upon completion of the deal, McMahon was expected to personally own 34% of TKO
Group.
- The merger between WWE and UFC as TKO was completed on September 12, 2023, with
WWE and UFC continuing to operate as separate divisions of TKO by focusing on
professional wrestling and mixed martial arts respectively.
- On October 15, it was announced that Endeavor Group Holdings CEO Ari Emanuel made
the call to remove McMahon from WWE creative power and then granted the responsibility
to Triple H to drive 99.9% of the creative moving forward.
## Findings
As a result, McMahon is no longer involved in the WWE creative direction of the company.
On January 26, 2024, one day after a report about alleged sexual assaults committed by
McMahon was published by The Wall Street Journal, Deadline confirmed that McMahon had
resigned from TKO.
## Analysis
In a statement, he said the decision was made "out of respect for the WWE Universe, TKO,
shareholders, and business partners." In March 2024, McMahon filed to sell $411.95 million
worth of TKO stock amidst allegations of sexual assault, following a previous sale of shares
worth $670.3 million in November.
## Conclusion
McMahon, who resigned from the TKO board earlier due to a lawsuit alleging abuse and
sexual exploitation, owns approximately 15 million shares of TKO Group's Class A shares
after the recent transactions. === Other business dealings ===
In 1979, Vince and Linda purchased the Cape Cod Coliseum and the Cape Cod Buccaneers of
the Atlantic Coast Hockey League. In addition to pro wrestling and hockey, they began
selling out rock concerts (including Van Halen and Rush) in non-summer months,
traditionally considered unprofitable due to lack of tourists. This venture led the McMahons
to join the International Association of Arena Managers, learning the details of the arena
business and networking with other managers through IAAM conferences, which Linda
later called a great benefit to WWE's success. In 1990, McMahon founded the World
Bodybuilding Federation organization, which folded in 1992.
## Discussion
In 2000, McMahon again ventured outside the world of professional wrestling by launching
the XFL, a professional American football league. The league began in February 2001, with
McMahon making an appearance at the first game, but folded after one season due to low
television ratings.
## Background
On January 25, 2018, McMahon announced a resurrection of the XFL. After only five weeks
of play in its inaugural 2020 season, the league abruptly ceased play due to the COVID-19
pandemic, and filed for bankruptcy on April 13, 2020. In February 2014, McMahon helped
launch an over-the-top streaming service called the WWE Network. In 2017, McMahon
established Alpha Entertainment, a separate entity from WWE. === Charity work ===
Vince and Linda McMahon donated over $8 million in 2008, giving grants to the Fishburne
Military School, Sacred Heart University, and East Carolina University.
## Findings
Nonprofit Quarterly noted the majority of the McMahons' donations were toward capital
expenditures. In 2006, they paid $2.5 million for construction of a tennis facility in
Ebensburg, Pennsylvania.
## Analysis
The McMahons have supported the Special Olympics since 1986, first developing an interest
through their friendship with NBC producer Dick Ebersol and Susan Saint James, who
encouraged them to participate. == Professional wrestling career ==
=== WWE and predecessors (1969–2024) ===
==== Commentator (1969–1997) ====
Before the evolution of the Mr. McMahon character, McMahon appeared as a commentator
on television. His executive role was not publicized to maintain the illusion of wrestling's
staged story lines, or kayfabe. While McMahon did publicly identify himself as the owner of
the WWF outside of WWF programming, on television his ownership of the WWF was
considered an open secret through the mid-1990s. Jack Tunney was portrayed as the
president of WWF instead of McMahon.
## Conclusion
In 1969, McMahon began appearing on untelevised WWWF events as a ring announcer.
McMahon made his commentary debut in 1971 when he replaced Ray Morgan after Morgan
had a pay dispute with McMahon's father, Vincent J. McMahon, shortly before a scheduled
television taping.
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