World Wrestling Entertainment (WWE) sold to Walt Disney Co. for $5 billion? It’s actually an April Fools’ Day prank, according to Vince McMahon. McMahon outrightly rejected such claims that WWE has been sold to Disney.
How did this prank go in the air? On April 1, 2018, this appeared on Wrestling News Source that McMahon has sold his wrestling entertainment company to Disney for a huge sum of money.
On April 1, WWE Chairman Vince McMahon had confirmed the sale of Wrestling Entertainment to The Associated Press for approximately $5 billion to Walt Disney Company in the run-up to the company’s biggest event WrestleMania 34 next weekend.
According to McMahon, no other entertainment company can be compared with WWE and he will continue to be in his current role. He categorically said in a statement that their primary aim is to develop WWE as one of the biggest and the best entertainment brand in the world as well as the biggest and the best sports entertainment for the fans. He is of the view that he is looking forward to work with Walt Disney Co to take WWE into a new era.
Vince McMahon will stay at the helm of the affairs of WWE which has grown into a highly successful global entertainment brand over the last 3 decades under his leadership. For your kind information, Vincent K. McMahon and his wife Linda had founded Titan Sports, Inc. in 1979. The company was officially incorporated on February 21, 1980, at the Cape Cod Coliseum offices. Later McMahon Jr. bought Capitol from his father in 1982 that paved the way for effectively seizing control of the company.
In the quest for making WWE (F) the premier wrestling promoter in the country and the world over, the expansion process he started that fundamentally changed the wrestling business throughout the 1980s, 1990s and was able to list the company in the stock market during early 2000.
There was no legitimate news coverage confirming of such a sell-off on any major financial publication. In addition to that, WWE has not issued any Press Release in this regard on its official website
Though McMohan never showed any inclination towards selling his company, in 2016, he suggested that he might consider any good deal if comes his way. But the condition is that WWE should be allowed to run the organization by the potential buyer in its own way. Finally, McMohan had to step out personally to deny such rumors. It was just an April Fools’ Day joke from a wrestling news website which is still going viral two days later.