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About World Wrestling Entertainment, Inc. (WWE)
World Wrestling Entertainment, Inc. (WWE) is a publicly traded, privately controlled integrated media (focusing in television, internet, and live events), sports, and entertainment company dealing primarily in the professional wrestling industry, with major revenue sources also coming from movies, music, product licensing, and direct product sales. Vincent K. McMahon is the owner and Chairman of the company and his wife Linda McMahon holds the position of Chief Executive Officer (CEO). Together with their children, Executive Vice President of Global Media Shane McMahon and Senior Vice President of Creative Writing Stephanie McMahon-Levesque, the McMahons hold approximately 70% of WWE's economic interest and 96% of all voting power in the company.
The company's global headquarters are located at 1241 East Main Street in Stamford, Connecticut, with international offices in Los Angeles, New York City, London, and Toronto. The company was previously known as Titan Sports, Inc. before changing to World Wrestling Federation Entertainment, Inc., and most recently becoming World Wrestling Entertainment, Inc.
Professional wrestling is the company's main business model. WWE is currently the largest professional wrestling promotion in the world, and holds an extensive library of videos representing a significant portion of the visual history of professional wrestling. The promotion previously existed as the Capitol Wrestling Corporation, which promoted under the banner of the World Wide Wrestling Federation (WWWF), and later the World Wrestling Federation (WWF). WWE promotes under three brands; RAW, SmackDown! and ECW. WWE is also home to three of the eight internationally recognized world heavyweight titles.
WWE's revenue in fiscal 2006 (from May 2005 to April 2006) was approximately $400 million (US), with a net profit of approximately $47 million. As of August 2006, the company's market capitalization is over $1 billion (US). the Owner and Chairman Vince McMahon is a billionaire with a net worth of $1.7 billion, its stock is traded on the NYSE as WWE.
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