WWE’s Vince McMahon pays $17.4M for misconduct investigation
Wrestling executive reimbursed costs for misconduct probe
Vince McMahon has footed the $17.4 million bill for the WWE’s investigation into the misconduct allegations raised against him, which triggered his brief retirement. The wrestling executive reimbursed the sports entertainment company on Thursday for all costs associated with the probe through Jan. 31, according to an SEC filing by the WWE on Friday. McMahon has said he will also cover any costs incurred by the investigation subsequent to that date.
McMahon retired briefly amid allegations
McMahon — credited with turning the WWE into an entertainment and pop culture powerhouse — voluntarily stepped away from his empire in June, after the Wall Street Journal published a report about alleged hush money payments he made as CEO. In total, the wrestling honcho was accused of shelling out $12 million to four different female employees at the wrestling network — all of whom signed agreements in exchange for their silence on allegations of sexual misconduct.
McMahon defends controversial return to company
His daughter Stephanie McMahon, who served as co-CEO in her father’s absence alongside Nick Khan, stepped down after he rejoined the company. His controversial return rattled investors and board members, but McMahon defended his takeover, claiming it is the “only way” for the company to thrive. “WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” McMahon said at the time.
Local news roundup
It’s only been a couple of weeks since two man-made cuts were closed between the Satilla River and Dover and Umbrella creeks in Camden County, but Fred Voight can already see the difference. For the first time in three years, the Area 16 regional Special Olympics returned Thursday to Naval Submarine Base Kings Bay. Candidates for the chair of the Georgia Republican met Wednesday at the College of Coastal Georgia to explain why they are best suited to lead the party for the next two years. Safe Harbor Center is working with local partners this week to bring attention to how the national Safe Place program aims to protect youth across the country and in the Golden Isles. Residents of a local assisted living center were treated last week to an afternoon of bingo games and culinary delicacies during the first Spring Fling Bingo event hosted by Golden Isles College and Career Academy students. We’re always interested in hearing about news in our community. Let us know what’s going on!