Former WWE CEO Vince McMahon Nets $100 Million Through Another Stock Sale

Todd Spangler NY Digital Editor Max Cutler sold Parcast Studios, his scripted-audio entertainment start-up, to Spotify in 2019 under a deal in which Spotify ultimately paid nearly $90 million. Cutler went on to become Spotify’s VP, head of talk creator content and partnerships — inking exclusive licensing deals with podcasters including Alex Cooper, Emma Chamberlain and Markiplier, and managing the company’s partnership with “The Joe Rogan Experience” — before exiting last year. Now Cutler is back in the game with the launch of Pave Studios.

Todd Spangler NY Digital Editor David Porter, an ad industry veteran and former Turner exec, is joining Warner Bros. Discovery as head of ad sales research, data and insights. Porter reports to Jon Steinlauf, Warner Bros.

Todd Spangler NY Digital Editor Wonya Lucas, former president and CEO of Hallmark Media Networks, has joined Comcast‘s board as an independent director. Comcast announced Lucas’s addition to the board, effective as of April 15, in an SEC filing Monday. She has not yet been appointed to serve as a member of any board committee, according to the filing.

Todd Spangler NY Digital Editor Ben Sherwood and Joanna Coles inked a deal to lead IAC’s The Daily Beast, under which the media veterans have been granted a minority stake in the news and opinion site. Effective immediately, Sherwood — one-time president of the Disney ABC Television Group — will serve as The Daily Beast’s publisher and CEO. Coles, previously Hearst Magazines’ chief content officer, is the site’s chief creative and content officer.

Todd Spangler NY Digital Editor Disney released the official vote counts from its 2024 meeting of shareholders held April 3 — in which investors decisively defeated a campaign by activist investor Nelson Peltz to win a seat on its board. According to the votes disclosed in an SEC filing Tuesday, nine of the Disney-backed director candidates received more than 90% of the shares voted in their favor.

More of former TKO Group Executive Chairman Vince McMahon‘s large stake in the company is changing hands, with Endeavor and TKO agreeing to buy a combined $311.2 million of his stock.

Todd Spangler NY Digital Editor Disney‘s games group has bulked up executive ranks with new hires and promotions after the announcement of its $1.5 billion investment in Epic Games and partnership to create a virtual world featuring the Mouse House’s brands and characters. Ray Gresko, formerly chief development officer at Blizzard Entertainment (who left prior to its the Microsoft acquisition of Activision Blizzard), joins the Disney Games team as senior VP, product and development.

Todd Spangler NY Digital Editor Vince McMahon continues to cash out of his stock in TKO Group Holdings, the company formed by the merger of WWE and UFC that is majority-owned by Endeavor. McMahon, the founder of WWE, resigned from the board of TKO Group in January 2024 in the wake of sexual assault and sex trafficking allegations against him by a former employee as detailed in a lawsuit. McMahon has strongly denied the allegations.

Michaela Zee Stephanie McMahon opened the second night of WrestleMania 40 during a surprise appearance Sunday in Philadelphia’s Lincoln Financial Field. “Every WrestleMania is special for its own reason,” Stephanie McMahon told the crowd at the WWE event. “But I think Wrestlemania 40 might be the one I am most proud of, because this is the first WrestleMania of the Paul Levesque era.” Her husband Levesque, also known by his ring name Triple H, is the chief content officer and head of creative at WWE.

Oppenheimer was without a doubt one of the biggest movies of 2023, and that was thanks in large part to its incredibly star-studded (and very wealthy) cast.

Todd Spangler NY Digital Editor A day after Disney declared victory over activist investor Nelson Peltz, CEO Bob Iger said the board is proceeding with “urgency” in trying to identify the next chief executive with the “distraction” of the proxy fight over. “This was decisive in terms of how shareholders voted,” Iger said in an appearance Thursday morning on CNBC from Disney’s Burbank, Calif., headquarters, about the results of the April 3 meeting. Succession “is the board’s No.

Todd Spangler NY Digital Editor Spotify announced the appointment of Christian Luiga, a senior executive at European defense and security company Saab AB, as its next CFO. Luiga is expected to start in the third quarter of 2024. Ben Kung, Spotify’s VP of financial planning and analysis, will serve as interim CFO until Luiga’s start date.

Todd Spangler NY Digital Editor Patrick Whitesell, executive chairman of WME parent Endeavor, is launching a new media company backed by Silver Lake as part of the private-equity firm’s deal to take Endeavor private. Silver Lake will invest $250 million of seed equity into a new business to be founded, managed and controlled by Whitesell, according to an Endeavor SEC filing Wednesday.

AMC Entertainment shares are down more than 16% before the opening bell after the nation’s biggest theater chain said it might sell up to $250 million-worth of stock, citing a low first-quarter box office.

The Twilight film franchise, based on author Stephenie Meyer‘s novels, helped lay the groundwork for a new generation of teen fantasy blockbusters.

Todd Spangler NY Digital Editor Stassi Schroeder Clark’s weekly lifestyle podcast, “Straight Up With Stassi,” has joined Dear Media’s roster of 80-plus shows — and it’s getting a new name. Beginning today, the podcast will be renamed “Stassi.” With distribution deal for Schroeder Clark’s podcast, Dear Media has announced a “refreshed content format” along with new visual branding across all podcast distribution platforms.

Todd Spangler NY Digital Editor UTA announced Eric Iverson as chief technology officer, where he will lead information-technology strategy — joining the company as artificial intelligence and other tech developments are threatening to disrupt the industry. Most recently, Iverson served as director of product strategy Amazon MGM Studios, where he led product, user experience and AI efforts, and before that was chief technologist for media and entertainment in the Amazon Web Services (AWS) division.

Todd Spangler NY Digital Editor UPDATED: Nelson Peltz claims Disney‘s board, not CEO Bob Iger, is the problem. But his investment firm, Trian Group, withheld its votes for Iger’s reelection to the Disney board. With just over a week before Disney’s annual shareholder meeting on April 3, Peltz’s Trian — which has been aggressively campaigning to get two seats on the Mouse House’s board — issued a new statement Monday saying the battle is not about any dispute with Iger but rather about forcing change on the board’s composition to boost the company’s financial returns.

Todd Spangler NY Digital Editor Michael Eisner, the former Disney CEO who exited the company in 2005, is the latest member of the extended Disneyverse to weigh in with support for current chief exec Bob Iger, who’s facing a proxy fight with activist investors including Nelson Peltz in a vote for board candidates at Disney’s April 3 annual shareholders meeting. “[I]n 1983, Disney was under attack by corporate raiders trying to take over the company,” Eisner wrote in a post on X, referring to the unsuccessful attempt by financier Saul Steinberg to stage a hostile takeover of the company.

Todd Spangler NY Digital Editor A federal judge has dismissed all charges against seven social-media influencers the SEC and Justice Department had accused of perpetrating a “stock manipulation scheme” on Twitter and Discord. On Wednesday, March 20, U.S. District Judge Andrew S.