Posted on 1/29/124 by Colin Vassallo
McMahon’s resignation from Chairman of TKO Group Holdings
received big coverage on mainstream media, with major
outlets such as CNN, New York Times, Associated Press, CNBC,
and others all reporting the news on their front pages.
CNN took a deep look at McMahon and his history of
accusations and allegations, questioning TKO why they even
put him as Chairman when their own SEC filings admitted that
McMahon occupying that position could have adverse financial
and operational impact on their business as well as expose
them to negative publicity.
Sportico added that if the Janel Grant lawsuit advances to
pre-trial discovery, it could leave a lot of top WWE
executives red-faced with the publication of e-mails and
text messages, exposing those who knew what was going on but
did not act.
While this is a civil matter and the outcome won’t send
McMahon to jail, the former WWE chief is still under a
federal investigation and that could open up more trouble
for him, including jail time if found guilty.
TKO stock today went down by over 4% at time of this writing
as Wall Street reacted to Friday night’s news.