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.
