McMahon is the majority shareholder in the listed company ‘s Class B shares, which give it an overwhelming majority. In addition, the board has several members of its family. The board’s investigation began in April, according to the WSJ report. The employee who received the $ 3 million settlement allegedly had a consensual relationship with McMahon, who used personal funds to pay. However, the board’s investigation revealed other, earlier non-disclosure agreements involving claims by former WWE female employees against McMahon and one of his top executives, John Laurinaitis, head of talent relations at the WWE, the WSJ reported. He could not put a number to count the settlements, but said it was in the millions of dollars. The WSJ said the board believes all arrangements came from McMahon’s personal funds, including a Laurinaitis settlement. New York-based law firm Simpson Thacher & Bartlett LLP is leading the investigation, the WSJ reported. As part of the research, the company also evaluates WWE compliance with human resource programs and corporate culture In a letter to the Wall Street Journal, McMahon’s lawyer Jerry McDevitt claimed that the woman who received the $ 3 million settlement was a former lawyer and did not claim to have harassed McMahon. WWE is a wrestling entertainment force that reported record revenue of $ 1.1 billion last year. It has a five-year exclusive agreement with NBCUniversal’s $ 1 billion Peacock flow platform, and also has licensing agreements with NBCUniversal and Fox. It also has an international deal with Disney Plus Hotstar in Indonesia. Fox broadcasts WWE Friday Night SmackDown, while Hulu broadcasts WWE Monday Night Raw, which has a deal expiring this year.
