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WWE, the more common terminology for World Wrestling Entertainment, Inc.,[8][9][10] is an American publicly traded, privately controlled entertainment company that deals primarily in professional wrestling, with majorrevenue sources also coming from film, music, product licensing and direct product sales.
The WWE also refers to the professional wrestling promotion itself, founded by Jess McMahon and Toots Mondtin 1952 as Capitol Wrestling Corporation, and, as of 2014, the largest in the world, holding approximately 320 televised and non-televised events a year, and broadcasting to about 36 million viewers in more than 150 countries.[11]
As in other professional wrestling promotions, WWE shows are not legitimate sporting contests, but purelyentertainment-based, featuring storyline-driven, scripted and choreographed matches, though they often include moves that can put performers at risk of injury if not performed correctly. WWE first acknowledged this publicly in 1981, breaking the gentlemen's agreement that previously existed among promoters.[12]
Vince McMahon is the majority owner, chairman and chief executive officer (CEO) of the company. Together with his wife Linda, children Shane and Stephanie, and son-in-law Paul Levesque (Known professionally asTriple H), the McMahon family holds approximately 70% of WWE's equity and 96% of the voting power in the company. As of August 2014, due to ongoing problems with the company, Eminence Capital, a New York based hedge fund, acquired 9.6% stake of WWE while the McMahon family retains 90.4% interest.[13]
The current entity was previously known as Titan Sports, Incorporated on February 21, 1980 which acquiredCapitol Wrestling Corporation (the holding company for the World Wrestling Federation) in 1982 and later formed a separate corporation in Delaware that may have initially been called WWF, Inc. before being renamed Titan Sports, Inc. which is then legally merged the Massachusetts corporation. Titan was renamed World Wrestling Federation, Inc. in 1998, then World Wrestling Federation Entertainment, Inc. in 1999 and finallyWorld Wrestling Entertainment, Inc. in 2002. Since 2011, the company has officially branded itself solely as "WWE", which is no longer an initialism, though the company's legal name was not changed.[10][14] The company's headquarters are located in Stamford, Connecticut, with offices in New York City, Los Angeles,London, Shanghai, Tokyo, Singapore, Munich, Mumbai, and Mexico City.
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