WWE

World Wrestling Entertainment, Inc.
WWE
Formerly called
 Titan Sports, Inc.
World Wrestling Federation, Inc.
World Wrestling Federation Entertainment, Inc.
Public company
Traded as NYSE: WWE
NASDAQ: WWE[1]
S&P 600 Component
ISIN US98156Q1085
Industry Professional wrestling
Sports entertainment
Media and Technology
Streaming media
Predecessor Capitol Wrestling Corporation
Founded February 21, 1980 (1980-02-21)
South Yarmouth, Massachusetts, U.S.[2]
Founders Vince McMahon
Linda McMahon
Headquarters 1241 East Main Street, 06902[3]
Stamford, Connecticut, United States
Area served
 Worldwide
Key people
 Vince McMahon
(Chairman and CEO)
Stephanie McMahon
(Chief Brand Officer)
Paul "Triple H" Levesque
(Executive Vice President of Talent, Live Events and Creative)
Products
  • Television
  • Publishing
  • Films
  • Finance
  • Music
  • Merchandise
  • Streaming network service
  • Home video
  • Live events
Services Licensing
Revenue Increase US$658.8 million (2015)[4]
Increase US$38.8 million (2015)[4]
Profit Increase US$24.1 million (2015)[4]
Total assets Increase US$409.1 million (2015)[4]
Total equity Increase US$209.3 million (2015)[4]
Owner Vince McMahon (52%)[5]
Number of employees
 approximately 800 (2016)[6]
Divisions

[7]

Subsidiaries
Website www.wwe.com

World Wrestling Entertainment, Inc. (d/b/a WWE) is an American publicly traded, privately controlled entertainment company that deals primarily in professional wrestling, with revenue also coming from film, music, video games, product licensing, and direct product sales.

WWE also refers to the professional wrestling promotion itself, founded by Jess McMahon and Toots Mondt in 1952 as Capitol Wrestling Corporation Ltd. As of 2016, it is the largest wrestling promotion in the world, holding over 500 events a year (with the roster divided up into various globally traveling brands),[9] and broadcasting to about 36 million viewers in more than 150 countries. The company's global headquarters is located in Stamford, Connecticut, with offices in major cities across the world.[10][11]

As in other professional wrestling promotions, WWE shows are not legitimate contests, but purely entertainment-based, featuring storyline-driven, scripted, and choreographed matches, though they often include moves that can put performers at risk of injury if not performed correctly. This was first publicly acknowledged by WWE's owner Vince McMahon in 1989 to avoid taxes from athletic commissions. Since the 1980s, WWE publicly has branded their product as sports entertainment, acknowledging the product's roots in competitive sport and dramatic theater.

The company's majority owner is its chairman and CEO, Vince McMahon. Along with his wife Linda, children Shane and Stephanie, and son-in-law Paul "Triple H" Levesque, the McMahon family holds approximately 70% of WWE's equity and 96% of the voting power.

The current entity, incorporated on February 21, 1980, was previously known as Titan Sports, Inc., which was founded in 1979 in South Yarmouth, Massachusetts. It acquired Capitol Wrestling Corporation, the holding company for the World Wrestling Federation, in 1982. Titan was renamed World Wrestling Federation, Inc. in 1998, then World Wrestling Federation Entertainment, Inc. in 1999, and finally the current World Wrestling Entertainment, Inc. in 2002. Since 2011, the company has officially branded itself solely as WWE though the company's legal name was not changed.[12][13]

Company history

Prior to Titan Sports

WWE's origins can be traced back as far as 1952 when Roderick James "Jess" McMahon and Toots Mondt created the Capitol Wrestling Corporation Ltd. (CWC), which joined the National Wrestling Alliance (NWA) in 1953. McMahon, who was a successful boxing promoter, began working with Tex Rickard in 1926. With the help of Rickard, he began promoting boxing and wrestling at the third Madison Square Garden. It was not the first time McMahon had promoted wrestling cards, as he had already done so during the 1910s.

In November 1954, McMahon died and Ray Fabiani, one of Mondt's associates, brought in McMahon's son Vincent James.[14] The younger McMahon and Mondt were very successful and soon controlled approximately 70% of the NWA's booking, largely due to their dominance in the heavily populated Northeast region. In 1963, McMahon and Mondt had a dispute with the NWA over "Nature Boy" Buddy Rogers being booked to hold the NWA World Heavyweight Championship.[15] Both men left the company in protest and formed the WWWF in the process, awarding Rogers the newly created WWWF World Heavyweight Championship in April of that year. He lost the championship to Bruno Sammartino a month later on May 17, 1963, after suffering a heart attack a week before the match.

Capitol operated the WWWF in a conservative manner compared to other pro wrestling territories:[16] it ran its major arenas monthly rather than weekly or bi-weekly, usually featuring a babyface (heroic character) champion wrestling various heels (villainous character) in programs that consisted of one to three matches.[17] After gaining a television program deal and hiring Lou Albano as a manager for Sammartino's heel opponents, the WWWF was doing sellout business by 1970.

Mondt left Capitol in the late sixties and although the WWWF had withdrawn from the NWA, Vince McMahon, Sr. quietly re-joined in 1971. Capitol renamed the World Wide Wrestling Federation to the World Wrestling Federation (WWF) in 1979.[18]

Titan Sports, Inc.

Golden Age

Vincent J. McMahon's son, Vincent K. McMahon, and his wife Linda, established Titan Sports, Inc., in 1979 in South Yarmouth, Massachusetts.[19][20] The company was incorporated on February 21, 1980, in the Cape Cod Coliseum offices. The younger McMahon bought Capitol from his father in 1982, effectively seizing control of the company. Seeking to make the WWF the premier wrestling promotion in the country, and eventually, the world, he began an expansion process that fundamentally changed the wrestling business.[21]

At the annual meeting of the NWA in 1983, the McMahons and former Capitol employee Jim Barnett all withdrew from the organization.[15] McMahon also worked to get WWF programming on syndicated television all across the United States. This angered other promoters and disrupted the well-established boundaries of the different wrestling promotions, eventually ending the territory system, which was in use since the founding of the NWA in the 1940s. In addition, the company used income generated by advertising, television deals, and tape sales to secure talent from rival promoters.

In an interview with Sports Illustrated, McMahon noted:

In the old days, there were wrestling fiefdoms all over the country, each with its own little lord in charge. Each little lord respected the rights of his neighboring little lord. No takeovers or raids were allowed. There were maybe 30 of these tiny kingdoms in the U.S. and if I hadn't bought out my dad, there would still be 30 of them, fragmented and struggling. I, of course, had no allegiance to those little lords.[21]

McMahon gained significant traction when he hired American Wrestling Association (AWA) talent Hulk Hogan, who had achieved popularity outside of wrestling, notably for his appearance in the film Rocky III.[22] McMahon signed Roddy Piper as Hogan's rival, and then shortly afterward Jesse Ventura as an announcer. Other wrestlers joined the roster, such as Jimmy Snuka, Don Muraco, The Iron Sheik, Nikolai Volkoff, Junkyard Dog, Paul Orndorff, Greg Valentine, and Ricky Steamboat. Many of the wrestlers who would join later the WWF were former AWA or NWA talent.

The WWF would tour nationally in a venture that would require a huge capital investment, one that placed the WWF on the verge of financial collapse. The future of McMahon's experiment came down to the success or failure of McMahon's groundbreaking concept, WrestleMania. WrestleMania was a major success, and was (and still is) marketed as the Super Bowl of professional wrestling. The concept of a wrestling supercard was nothing new in North America; the NWA had begun running Starrcade a few years prior. In McMahon's eyes, however, what separated WrestleMania from other supercards was that it was intended to be accessible to those who did not watch wrestling. He invited celebrities such as Mr. T, Muhammad Ali, and Cyndi Lauper to participate in the event, as well as securing a deal with MTV to provide coverage. The event and hype surrounding it led to the term Rock 'n' Wrestling Connection, due to the cross-promotion of pop-culture and professional wrestling.

The WWF business expanded significantly on the shoulders of McMahon and his babyface hero Hulk Hogan for the next several years. The introduction of Saturday Night's Main Event on NBC in 1985 marked the first time that professional wrestling had been broadcast on network television since the 1950s, when the now-defunct DuMont Television Network broadcast matches of Vince McMahon Sr.'s Capitol Wrestling Corporation. The 1980s "Wrestling Boom" peaked with the WrestleMania III pay-per-view at the Pontiac Silverdome in 1987, which set an attendance record of 93,173, a record that stood for 29 years until WrestleMania 32.[23] A rematch of the WrestleMania III main event between WWF champion Hulk Hogan and André the Giant took place on The Main Event in 1988 and was seen by 33 million people, the most-watched wrestling match in North American television history.[24]

In 1985, Titan moved its offices to Stamford, Connecticut, before the present building was built nearby in 1991. Subsequently, a new Titan Sports, Inc. (originally WWF, Inc.) was established in Delaware in 1987 and was consolidated with the Massachusetts entity in February 1988.[25]

New Generation (1993–1997)

The WWF was hit with allegations of steroid abuse and distribution in 1992 and was followed by allegations of sexual harassment by WWF employees the following year.[26] McMahon was eventually exonerated, but it brought bad public relations for the WWF, and overall bad reputation. The steroid trial cost the company an estimated $5 million at a time of record low revenues. This helped drive many WWF wrestlers over to rival promotion World Championship Wrestling (WCW), including 1980s babyface hero Hulk Hogan. During this period, the WWF promoted wrestlers of a younger age comprising "The New Generation", featuring Shawn Michaels, Diesel, Razor Ramon, Bret Hart, and The Undertaker, in an effort to promote new talent into the spotlight.

In January 1993, the WWF debuted its flagship cable program Monday Night Raw. WCW countered in September 1995 with its own Monday night program, Monday Nitro, which aired in the same time slot as Raw.[27] The two programs would trade wins in the ensuing ratings competition (known as the "Monday Night Wars") until mid-1996. At that point, Nitro began a nearly two-year ratings domination that was largely fueled by the introduction of the New World Order (nWo), a stable led by former WWF performers Hulk Hogan, Scott Hall (the former Razor Ramon), and Kevin Nash (the former Diesel).[28]

The Attitude Era (1997–2002)

As the Monday Night Wars continued between Raw Is War and WCW's Nitro, the WWF would transform itself from a family-friendly product into a more adult oriented product, known as the Attitude Era. The era was spearheaded by WWF VP Shane McMahon (son of owner Vince McMahon) and head writer Vince Russo.

1997 ended with McMahon facing real-life controversy following Bret Hart's controversial departure from the company, dubbed as the Montreal Screwjob.[29] This proved to be one of several founding factors in the launch of the Attitude Era as well as the creation of McMahon's on-screen character, "Mr. McMahon".

Prior to the Montreal Screwjob, which took place at the 1997 Survivor Series, former WCW talent were being hired by the WWF, including Stone Cold Steve Austin, Mankind, and Vader. Austin was slowly brought in as the new face of the company despite being promoted as an antihero, starting with his "Austin 3:16" speech shortly after defeating Jake Roberts in the tournament finals at the King of the Ring pay-per-view in 1996.[30]

World Wrestling Federation, Inc./World Wrestling Federation Entertainment, Inc.

On May 6, 1998, Titan Sports, Inc. was renamed World Wrestling Federation, Inc. It was renamed World Wrestling Federation Entertainment, Inc. a year later.

On April 29, 1999, the WWF made its return to terrestrial television, airing a special program known as SmackDown! on the fledgling UPN network. The Thursday night show became a weekly series on August 26, 1999—competing directly with WCW's Thursday night program Thunder on TBS. In 2000, the WWF, in collaboration with television network NBC, announced the creation of the XFL, a new professional football league that debuted in 2001.[31] The league had high ratings for the first few weeks, but initial interest waned and its ratings plunged to dismally low levels (one of its games was the lowest-rated prime-time show in the history of American television). NBC walked out on the venture after only one season, but McMahon intended to continue alone. However, after being unable to reach a deal with UPN, McMahon shut down the XFL.[32]

On October 19, 1999, World Wrestling Federation, Inc. launched an initial public offering as a publicly traded company, trading on the New York Stock Exchange (NYSE) with the issuance of stock then valued at $172.5 million.[33] The company has traded on the NYSE since its launch under ticker symbol WWE.[34]

Acquisition of WCW and ECW

By the fall of 1999, the Attitude Era had turned the tide of the Monday Night Wars into WWF's favor. After Time Warner merged with AOL, Ted Turner's control over WCW was considerably reduced, and the newly merged company announced a complete lack of interest in professional wrestling as a whole, and decided to sell WCW in its entirety. Although Eric Bischoff, whom Time Warner fired as WCW president in October 1999, was nearing a deal to purchase the company, in March 2001 McMahon acquired the rights to WCW's trademarks, tape library, contracts, and other properties from AOL Time Warner for a number reported to be around $7 million.[35] Shortly after WrestleMania X-Seven, the WWF launched the Invasion storyline integrating the incoming talent roster from WCW and Extreme Championship Wrestling (ECW). With this purchase, WWF now became by far the largest wrestling promotion in the world. The assets of ECW, which had folded after filing for bankruptcy protection in April 2001, were purchased by WWE in mid-2003.[36]

World Wrestling Entertainment, Inc./WWE

Current WWE minority owners/front office executives/wrestlers Triple H and his wife Stephanie McMahon

On May 5, 2002, the World Wrestling Federation announced it was changing both its company name and the name of its wrestling promotion to World Wrestling Entertainment (WWE). Although mainly caused by an unfavorable ruling in its dispute with the World Wide Fund for Nature regarding the "WWF" initialism, the company noted it provided an opportunity to emphasize its focus on entertainment.[37]

On April 7, 2011, WWE, via the WWE Corporate website, announced that the company was ceasing use of the full name World Wrestling Entertainment and would henceforth refer to itself solely as WWE, making the latter an orphan initialism. This was said to reflect WWE's global entertainment expansion away from the ring with the ultimate goal of acquiring entertainment companies and putting a focus on television, live events, and film production. WWE noted that their new company model was put into effect with the relaunch of Tough Enough, being a non–scripted program (contrary to the scripted nature of professional wrestling) and with the launch of the WWE Network (at the time scheduled to launch in 2012; later pushed back to 2014). However, the legal name of the company remains as World Wrestling Entertainment, Inc.[13]

Brand extension

Original

In March 2002, WWE decided to create two separate rosters, with each group of wrestlers appearing on one of their main programs, Raw and SmackDown!, due to the overabundance of talent left over from the Invasion storyline. This was dubbed as the "brand extension".

Beginning in 2002 a draft lottery was held nearly every year to set the rosters, with the first draft to determine the inaugural split rosters, and subsequent drafts designed to refresh the rosters of each show. On May 26, 2006, WWE announced the relaunch of ECW as a third WWE brand. The new ECW program aired until February 16, 2010.[38] All ECW wrestlers at that point became free agents that could sign either Raw or SmackDown.

Reunification

Beginning with the August 29, 2011 episode of Raw, it was announced that Raw would feature talent from both Raw and SmackDown, and would be known as Raw Supershow (the "Supershow" suffix would be dropped on July 23, 2012).[39] Championships previously exclusive to one show or the other were available for wrestlers from any show to compete for; the "Supershow" format would mark the end of the brand extension, as all programming and live events from when the original announcement was made until July 2016 featured the full WWE roster.[40]

In 2013, the company built the sports medicine and training facility WWE Performance Center in east Orange County, Florida in partnership with Full Sail University from Winter Park, Florida. The training facility is targeted at career and athletic development for the company's wrestlers.[41] Full Sail is also home base to WWE's developmental brand NXT,[42] which over the years has grown and expanded into a global brand in its own right.[43]

Second brand split

On May 25, 2016, WWE announced a relaunch of the brand extension, billed as the "New Era". Following that announcement, Raw and SmackDown now each feature their own unique rosters, announcers, ring sets/ropes, and championships. A draft took place to determine which wrestlers would appear on what show. SmackDown also moved from Thursdays to Tuesday nights, which began on July 19 (the night of the aforementioned draft), and airs live instead of the previous pre-recorded format.[44]

On November 29, 2016, WWE introduced a new program specifically for their cruiserweight division (wrestlers 205 lbs. and under) called WWE 205 Live.[45] The program focuses exclusively on those wrestlers who qualify for the division.[46][47] The cruiserweights – who first became a fixture in WWE with the Cruiserweight Classic tournament – were originally exclusive to the Raw brand at the onset of the 2016 brand extension, before landing their own show (though they still also appear on Raw, as well as working on the NXT brand).[48]

On December 15, 2016, it was announced that WWE was establishing a new WWE United Kingdom Championship, with the winner being decided by a 16-man tournament to air on WWE Network featuring wrestlers from the UK and Ireland during January 2017. WWE executive Paul "Triple H" Levesque said the eventual plan with the new title and tournament is to establish a UK-based brand with its own weekly TV show.[49][50] The UK wrestlers and the UK Championship is being featured on the NXT brand in the interim.[51]

WWE currently has over 140 wrestlers (both male and female) under various forms of contract, and stages over 500 events a year around the world.[9]

Terminology

WWE uses a variety of special terms in defining their product, such as describing the wrestling industry as sports entertainment. The fan base is referred to as "the WWE Universe". A wrestler is known as a "WWE Superstar", while retired wrestlers are known as "WWE Legends" (or "Hall of Famers" if they have been inducted into the WWE Hall of Fame).[52]

WWE Network and distribution deals

On February 24, 2014, WWE launched a 24/7 streaming network. The network includes past and present WWE shows, pay-per-views, and shows from the WWE Library.[53] The network reached 1,000,000 subscribers on January 27, 2015 in less than one year of its launch, with WWE claiming that it was thus "the fastest-growing digital subscription service ever".[54]

In May 2014, WWE and NBCUniversal agree to a new contract that would see both Raw and SmackDown continue on NBC owned networks the USA Network and Syfy.[55] In January 2016, SmackDown would change networks to the USA Network. The contract with NBCUniversal expires in 2019.[56] On November 17, 2016, WWE and Sky Deutschland signed a multi-year agreement to distribute WWE's premier pay-per-view events and broadcast Raw and SmackDown Live on SKY Sports starting in April 2017.[57]

WWE stock and corporate governance

On October 19, 1999, WWF, which had been owned previously by parent company Titan Sports, launched an initial public offering as a publicly traded company, trading on the New York Stock Exchange (NYSE) with the issuance of stock then valued at $172.5 million.[33] The company has traded on the NYSE since its launch under ticker symbol WWE.[34]

The company has actively marketed itself as a publicly traded company through presentations at investor conferences and other investor relations initiatives.[58] In June 2003, the company began paying a dividend on its shares of $0.04 per share.[59] In June 2011, the company cut its dividend from $0.36 to $0.12.[60] In 2014, concerns about the company's viability caused wide fluctuations in its share price.[61]

As of 2015, the company's Board of Directors has eight members: Vince McMahon, the company's Chairman of the Board and CEO; Stuart U. Goldfarb, President of Fullbridge, Inc.; Patricia A. Gottesman, former President and CEO of Crimson Hexagon; David Kenen, the former Executive Vice President of the Hallmark Channel; Joseph H. Perkins, former President of Communications Consultants; Frank A. Riddick, III, CEO of Shale-Inland Group, Inc.; Jeffrey R. Speed, former Executive Vice President and Chief Financial Officer of Six Flags; Laureen Ong, former President of Travel Channel; Stephanie McMahon, Chief Brand Officer of WWE; and Paul "Triple H" Levesque, WWE's Executive Vice President of talent, live events, and creative.[62]

Contracts

WWE signs most of their talent to exclusive contracts, meaning talent can appear or perform only on WWE programming and events. They are not permitted to appear or perform for another promotion, unless special arrangements are made beforehand. WWE keeps all wrestlers' salary, employment length, benefits, and all other contract details strictly private.[63]

WWE classifies its professional wrestlers as independent contractors and not as employees. A study by the University of Louisville Law Review found that after applying the Internal Revenue Service (IRS) 20-factor test, 16 factors "clearly indicate that wrestlers are employees". However, as a result of WWE terming them as independent contractors, "the wrestlers are denied countless benefits to which they would otherwise be entitled".[64]

Wellness Program

The World Wrestling Federation had a drug-testing policy in place as early as 1987, initially run by an in-house administrator. In 1991, wrestlers were subjected to independent testing for anabolic steroids for the first time.[65] The independent testing was ceased in 1996.[66]

The Talent Wellness Program is a comprehensive drug, alcohol, and cardiac screening program initiated in February 2006, shortly after the sudden death of one of their highest profile talents, 38-year-old Eddie Guerrero.[67] The policy tests for recreational drug use and abuse of prescription medication, including anabolic steroids.[67] Under the guidelines of the policy, talent is also tested annually for pre-existing or developing cardiac issues. The drug testing is handled by Aegis Sciences Corporation; the cardiac evaluations are handled by New York Cardiology Associates P.C.[67] The Wellness Policy requires that all talent "under contract to WWE who regularly perform in-ring services as a professional sports entertainer" undergo testing; however, part-time competitors are exempt from testing.[68]

After the double-murder and suicide committed by one of its performers, Chris Benoit, with a possible link to steroid abuse encouraged by WWE, the United States House Committee on Oversight and Government Reform requested that WWE turn over any material regarding its talent wellness policy.[69]

In August 2007, WWE and its employees defended the program in the wake of several busts of illegal pharmacy that linked WWE performers to steroid purchases even after the policy was put into place. Ten professional wrestlers were suspended for violating the Wellness Policy after reports emerged they were all customers of Signature Pharmacy in Orlando, Florida. According to a statement attributed to WWE attorney Jerry McDevitt, an eleventh wrestler was later added to the suspension list.[70][71][72]

Because of the Wellness Policy, physicians were able to diagnose one of its performers with a heart ailment that would otherwise likely have gone unnoticed until it was too late. In August 2007, then-reigning United States Champion Montel Vontavious Porter (real name: Hassan Assad) was diagnosed with Wolff–Parkinson–White syndrome,[73] which can be potentially fatal if gone undiagnosed. The ailment was discovered while Assad was going through a routine Wellness Policy checkup.

On September 13, 2010, WWE updated their list of banned substances to include muscle relaxers.[74]

1990s sex and drugs scandal

During the early 1990s, WWE, known then as the World Wrestling Federation, was involved in scandals regarding the sexual harassment of underage ring crew assistants and the distribution of steroids. During a 1999 interview, Tom Cole, one of the former WWF "ring boys", recounted alleged sexual wrongdoings done in the early 1990s by homosexual WWF employees Pat Patterson, Terry Garvin, and Mel Phillips. Cole accused Patterson of grabbing his buttocks as well as staring at his crotch and performing lewd sexual gestures,[75] Cole also accused Garvin of accosting him in a hotel room after his nineteenth birthday.[75][76] Cole's harshest allegations were direct towards former WWF ring announcer Mel Phillips. Cole claims Phillips, who during Cole's tenure with the WWF was the head of the ring crew, would lure under-aged "ring boys" into the ring and would begin to "play wrestle" with them. During the "play wrestling" match, Cole claims Phillips "would wrestle you for five seconds then he’d grab your toes and pull your shoes off and he’d start playing with your toes. Squeezing them and stuff."[77] Cole claims Phillips did this to fulfill his foot fetish.[77] Cole later reached a settlement with the WWF.[75]

During the 1980s and 1990s, Dr. George Zahorian was thought to have routinely distributed steroids and other drugs to WWF wrestlers, supposedly with the approval of WWF owner Vince McMahon.[77] In 1993, McMahon was indicted in federal court after the steroid controversy engulfed the promotion, forcing him to temporarily cede control of the WWF to his wife Linda.[78] The case went to trial in 1994, where McMahon himself was accused of distributing steroids to his wrestlers.[79] One notable prosecution witness was Nailz (real name: Kevin Wacholz), a former WWF performer who had been fired after a violent confrontation with McMahon. Nailz testified that McMahon had ordered him to use steroids, but his credibility was called into question during his testimony as he repeatedly stated that he "hated" McMahon.[80][81] The prosecution's intended star witness was Hulk Hogan, but this backfired when Hogan testified that McMahon never told him to take nor tried to sell him steroids. The jury would later acquit McMahon of the charges and he resumed his role in the day-to day operations of the WWF.

Titan Sports sues World Championship Wrestling

In 1996, Titan Sports, the parent company of the World Wrestling Federation, sued World Championship Wrestling (WCW) over WCW implying that Scott Hall and Kevin Nash (Razor Ramon and Diesel) were invading WCW on the WWF's behalf. This led to a series of lawsuits filed by both companies as the Monday Night War heated up. The lawsuit went on for years, ending with a settlement in 2000.  One of the terms gave then WWF the right to bid on WCW's assets if the company was liquidated. Time Warner, the then parent company of WCW, cancelled WCW's television shows in March 2001 and sold the company assets to WWE.[82]

WWF name dispute

In 1994, Titan Sports had entered into an agreement with the World Wide Fund for Nature (also trademarked WWF), an environmental organization, regarding Titan's use of the "WWF" acronym, which both organizations had been using since at least March 1979. Under the agreement, Titan had agreed to cease using the written acronym "WWF" in connection with its wrestling promotion, and to minimize (though not eliminate) spoken uses of "WWF" on its broadcasts, particularly in scripted comments. In exchange, the environmental group (and its national affiliates) agreed to drop any pending litigation against Titan, and furthermore agreed not to challenge Titan's use of the full "World Wrestling Federation" name or the promotion's then-current logo.[83]

In 2000, the World Wide Fund for Nature sued World Wrestling Federation Entertainment Inc. in the United Kingdom, alleging various violations of the 1994 agreement.[84] The Court of Appeal agreed that the promotion company had violated the 1994 agreement, particularly in regards to merchandising. The last televised event to market the WWF logo was the UK-based pay-per-view Insurrextion 2002. On May 5, 2002, the company launched its "Get The F Out" marketing campaign and changed all references on its website from "WWF" to "WWE", while switching the URL from WWF.com to WWE.com.[37] The next day, a press release announced the official name change from World Wrestling Federation Entertainment, Inc. to World Wrestling Entertainment, Inc., or WWE, and the change was publicized later that day during a telecast of Raw, which was broadcast from the Hartford Civic Center in Hartford, Connecticut.

Following the name change, the use of the WWF "scratch" logo became prohibited on all WWE properties. Additionally, past references to the WWF trademark and initials in 'specified circumstances' became censored.[85] Despite the litigation, WWE was still permitted use of the original WWF logo, which was used from 1979 through 1994 and had been explicitly exempted under the 1994 agreement, as well as the similar "New WWF Generation" logo, which was used from 1994 through 1998. Furthermore, the company could still make use of the full "World Wrestling Federation" and "World Wrestling Federation Entertainment" names without consequence. In 2003, WWE won a limited decision to continue marketing certain classic video games from THQ and Jakks Pacific that contained the WWF "scratch" logo.[86] However, the packaging on those games had all WWF references replaced with WWE.

Starting with the 1,000th episode of Raw in July 2012, the WWF "scratch" logo is no longer censored in archival footage due to WWE reaching a new settlement with the World Wide Fund for Nature.[87] In addition, the WWF initials are no longer censored when spoken or when written in plain text in archival footage. Since then, full-length matches and other segments featuring the WWF initials and "scratch" logo have been added to the WWE website and the WWE Classics on Demand service. This also includes WWE Home Video releases since October 2012, starting with the re-release of Brock Lesnar: Here Comes The Pain.[88] Although the WWF initials and logo are no longer censored in archival footage, WWE cannot use the WWF initials or logo in any new, original footage, packaging, or advertising.[89]

Harry Slash and the Slashstones lawsuit

Harry "Slash" Grivas and Roderick Kohn filed a lawsuit against WWE in June 2003 due to the music being used for its programming and DVDs without consent or payment. It also asserted violation of the rights to original music used by ECW that WWE had been using during the Invasion storyline of 2001. The case was resolved on both sides with a settlement that saw WWE purchase the catalogue outright in January 2005.[90]

Bullying and hazing allegations

Longtime WWE employee and former WWE Champion John "Bradshaw" Layfield has been accused numerous times of bullying and hazing his coworkers, with some claiming that WWE turned a blind eye towards Layfield's behavior. In 2017, Sports Illustrated stated that Layfield "has been accused for years of being a locker room bully",[91] while Deadspin wrote that "backstage tales of Layfield's hazing and bullying have long been legend among hardcore wrestling fans."[92] Dayton Daily News described that "YouTube has dozens of interviews where former [WWE] performers discuss harassment, bullying and taking real blows from Layfield while wrestling him in supposedly choreographed matches."[93] Le Journal de Montréal listed Mark Henry, Matt Hardy, René Duprée, Daivari, and Ivory, among others, as wrestlers who in interviews described Layfield as a bully.[94] In 2010, The Miz referenced Layfield in an onscreen promo about hazing he faced in the locker room early in his career. Layfield admitted to hazing Miz and said that he didn't regret doing so.[95][96] It was later revealed that JBL's name was substituted in The Miz's promo for Chris Benoit, whose name has been barred from being mentioned in new content since Benoit's actions that lead to his death and the death of his wife and son.

In April 2017, WWE commentator Mauro Ranallo took an absence from WWE, which Dave Meltzer reported had been triggered by hostilities with Layfield.[97][92][98][94] The allegations coincided with the release of former WWE ring announcer Justin Roberts' autobiography, in which he alleged that Layfield encouraged Johnny Nitro and Joey Mercury to steal his passport.[92][99] Angered WWE fans subsequently called on WWE to fire Layfield.[100] On April 22, Newsweek reported that Ranallo and WWE "mutually agreed to part ways", and Ranallo released a statement in which he said his departure had "nothing to do with JBL".[97] Layfield released a statement of his own, stating: "Admittedly, I took part in locker room pranks that existed within the industry years ago. WWE addressed my behavior and I responded accordingly, yet my past is being brought up because of recent unfounded rumors. I apologize if anything I said playing ‘the bad guy’ on a TV show was misconstrued."[97]

Total Nonstop Action Wrestling sues WWE & Wittenstein

On May 23, 2012, Total Nonstop Action Wrestling (TNA, now Global Force Wrestling) sued former employee Brian Wittenstein and WWE. The suit alleged that Wittenstein violated a non-disclosure agreement and shared confidential information with the WWE which represented a comparative advantage in negotiating with wrestling talent under contract with TNA. He was subsequently hired by WWE after which, TNA asserted that Wittenstein violated the agreement by downloading confidential TNA trade secrets and providing that information to WWE. Although WWE fired Wittenstein and alerted TNA officials as to the disclosure of the information, TNA claimed that WWE had access to the information for three weeks prior to disclosure and in this time, the WWE used secret contract information and attempted to poach their talent in violation of Tennessee's Uniform Trade Secrets Act.[101] The lawsuit was formally withdrawn without prejudice, by the plaintiff, TNA, on January 15, 2013 under a "Notice of Voluntary Nonsuit" which offers no ruling on the merits of the suit and allows TNA to potentially refile at a later date.[102]

Expansion beyond wrestling

In addition to licensing wrestling and performers' likenesses to companies such as Acclaim, THQ, 2K Sports, and Mattel to produce video games and action figures, WWE has branched out into other areas of interest in order to market their product.

Subsidiaries

Active

Defunct

Tapout

In March 2015, WWE announced a partnership with Authentic Brands Group to relaunch Tapout, formerly a major MMA-related clothing line, as a more general "lifestyle fitness" brand. The apparel, for men and women, was first released in spring of 2016. WWE markets the brand through various products, including beverages, supplements, and gyms.[103] WWE will hold a 50% stake in the brand, and so will advertise it regularly across all its platforms, hoping to give it one billion impressions a month, and take some of the fitness market from Under Armour. WWE wrestlers and staff have been shown wearing various Tapout gear since the venture began.[104]

Investments

Charities

Partnerships

Though an infrequent occurrence, during its history WWE has worked with other wrestling promotions in collaborative efforts.

During the 1970s, 1980s, and early 1990s, WWE had working relationships with the Japanese New Japan Pro-Wrestling (NJPW), Universal Wrestling Federation (UWF), Universal Lucha Libre (FULL), and the Mexican Universal Wrestling Association (UWA). These working relationships led to the creations of the WWF World Martial Arts, Light Heavyweight and Intercontinental Tag Team championships.[112][113][114][115]

During the period of 1992–1996, WWE had talent exchange agreements with the U.S. and Japanese independent companies Smokey Mountain Wrestling (SMW),[116][117] Super World of Sports (SWS),[118] WAR,[119] and the United States Wrestling Association (USWA).[120]

In 1997, the company did business with Mexico's AAA promotion, bringing in a number of AAA wrestlers for the Royal Rumble event and namesake match.[121][122]

In 1997, WWE would also do business with Japan's Michinoku Pro Wrestling (MPW), bringing in MPW talent to compete in the company's light heavyweight division and in their 1997 Light Heavyweight Championship tournament.[123]

In 2015, WWE entered a partnership with Evolve – a U.S. independent promotion that WWE uses as a scouting group for potential signees for their NXT brand.[124]

In 2016, WWE partnered with England's Progress Wrestling with Progress hosting qualifing matches for WWE's Cruiserweight Classic.[125] In 2017, Progress talent would participate in the WWE United Kingdom Championship Tournament[126] and at WWE's WrestleMania Axxess events.[127]

In 2017, WWE partnered with Scotland's Insane Championship Wrestling (ICW) with some ICW talent appearing in the WWE United Kingdom Championship Tournament and at WWE's WrestleMania Axxess events.[127] WWE has also explored a deal to bring ICW programming onto the WWE Network.[128]

Throughout the company's history, WWE has had past arrangements with independent companies from the United States (such as Ohio Valley Wrestling among others) and Puerto Rico (such as the International Wrestling Association) with the companies serving as developmental territories.[129] WWE NXT currently serves as the official developmental territory for WWE.[130]

Championships and accomplishments

Raw

Championship Current champion(s) Reign Date won Days
held		 Location Notes
WWE Universal Championship Brock Lesnar 1 April 2, 2017 146 Orlando, Florida Defeated Goldberg at WrestleMania 33
WWE Intercontinental Championship The Miz 7 June 4, 2017 83 Baltimore, Maryland Defeated Dean Ambrose at Extreme Rules
WWE Raw Women's Championship Alexa Bliss 1 April 30, 2017 118 San Jose, California Defeated Bayley at Payback
WWE Cruiserweight Championship Neville 1 January 29, 2017 209 San Antonio, Texas Defeated Rich Swann at the Royal Rumble
WWE Raw Tag Team Championship Cesaro and Sheamus 2
(3, 2)		 June 4, 2017 83 Baltimore, Maryland Defeated The Hardy Boyz (Matt Hardy and Jeff Hardy) in a steel cage tag team match at Extreme Rules

SmackDown

Championship Current champion(s) Reign Date won Days
held		 Location Notes
WWE Championship Jinder Mahal 1 May 21, 2017 97 Rosemont, Illinois Defeated Randy Orton at Backlash
WWE United States Championship AJ Styles 2 July 25, 2017 32 Richmond, Virginia Defeated Chris Jericho and previous champion Kevin Owens in a triple threat match on SmackDown
WWE SmackDown Women's Championship Naomi 2 April 2, 2017 146 Orlando, Florida Defeated Becky Lynch, Carmella, Mickie James, Natalya, and previous champion Alexa Bliss in a six-pack challenge at WrestleMania 33
WWE SmackDown Tag Team Championship The New Day
(Big E, Kofi Kingston, and Xavier Woods)		 1
(1, 1, 1)		 July 23, 2017 34 Philadelphia, Pennsylvania Kingston and Woods defeated The Usos (Jimmy Uso and Jey Uso) at Battleground
Big E also recognized as champion via the Freebird Rule

NXT

Championship Current champion(s) Reign Date won Days
held		 Location Notes
NXT Championship Bobby Roode 1 January 28, 2017 210 San Antonio, Texas Defeated Shinsuke Nakamura at NXT TakeOver: San Antonio
NXT Women's Championship Asuka 1 April 1, 2016 512 Dallas, Texas Defeated Bayley at NXT TakeOver: Dallas
NXT Tag Team Championship The Authors of Pain
(Akam and Rezar) 		1
(1, 1)		 January 28, 2017 210 San Antonio, Texas Defeated #DIY (Johnny Gargano and Tommaso Ciampa) at NXT TakeOver: San Antonio
WWE United Kingdom Championship Pete Dunne 1 May 20, 2017 98 Rosemont, Illinois Defeated Tyler Bate at NXT TakeOver: Chicago

Defunct

Other accomplishments

Accomplishment Latest winner(s) Date won Location Notes
Royal Rumble Randy Orton January 29, 2017 San Antonio, Texas Last eliminated Roman Reigns to win.
Money in the Bank (Men) Baron Corbin June 18, 2017 St. Louis, Missouri Defeated Dolph Ziggler, Kevin Owens, Shinsuke Nakamura, Sami Zayn, and AJ Styles to win.
Money in the Bank (Women) Carmella June 27, 2017 San Diego, California Carmella won the briefcase at Money in the Bank. However, she was forced to relinquish the briefcase after James Ellsworth retrieved it for her. SmackDown Live General Manager Daniel Bryan announced that a rematch for the vacant briefcase would take place on the June 27, 2017 episode of SmackDown Live. Carmella won the rematch by defeating Becky Lynch, Charlotte Flair, Natalya, and Tamina.
André the Giant Memorial Trophy Mojo Rawley April 2, 2017 Orlando, Florida Last eliminated Jinder Mahal to win.
Cruiserweight Classic TJ Perkins September 14, 2016 Winter Park, Florida Defeated Gran Metalik in the tournament final to win.
Dusty Rhodes Tag Team Classic The Authors of Pain
(Akam and Rezar)		 November 19, 2016 Toronto, Ontario Defeated TM-61 (Nick Miller and Shane Thorne) in the tournament final to win.

See also

References

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