The WWE wrestling franchise, which has become synonymous with the sport, has reportedly been sold to Saudi Arabia's Public Investment Fund, according to a report on DAZN.
This will mark the franchise's return to private ownership since October 1999, when the company became publicly traded if reports are to be believed.
After being unanimously elected as the executive chairman of the board, the veteran CEO of the company, Vince McMahon, returned to the franchise's helm after a hiatus.
World Wrestling Entertainment, Inc. (WWE) is an American publicly traded, privately controlled entertainment company that deals primarily in professional wrestling. It is known for its TV shows like RAW, Smackdown, and NXT, as well as its pay-per-view events such as WrestleMania, SummerSlam, and Royal Rumble.
WWE also has a number of international tours, live events, and its own streaming service, the WWE Network. The company's headquarters are located in Stamford, Connecticut, with offices in major cities across the world.
WWE's programming is characterized by long-running story arcs, and its performers, known as "superstars" and "divas", are trained to perform a mix of acrobatic maneuvers, dramatic storytelling, and showmanship. The organization has a number of storylines, match types, and other elements that help to create a unique wrestling experience. The matches are choreographed and rehearsed but include elements of unpredictability in order to create excitement for the audience.
The company has a global fanbase and is considered one of the biggest entertainment companies in the world. It has a diverse range of revenue streams, including ticket sales, merchandise, advertising, and distribution of its programming via various platforms such as broadcast TV, pay-per-view, and the WWE Network.
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