As we previously reported here on eWn, WWE and MLW settled the antitrust lawsuit in December 2023. MLW had originally filed the lawsuit in 2022, alleging that WWE violated the Sherman Act regarding anti-trust practices, talent poaching, and more.
Now, according to a 10-K filing made with the SEC, MLW and WWE have settled the lawsuit for $20 million. The filing reads,
“On January 11, 2022, a complaint was filed against WWE by MLW Media LLC (“MLW”), captioned MLW Media LLC v. World Wrestling Entertainment, Inc., No. 5:22-cv-00179-EJD (N.D. Cal.), alleging that WWE interfered with MLW’s contractual relationship with certain media platforms and engaged in other anticompetitive and unfair business practices in violation of the Sherman Antitrust Act and California law. On December 22, 2023, the parties notified the court that they had entered into a settlement agreement in the amount of $20.0 million and stipulated that the case should be voluntarily dismissed with prejudice. In light of the settlement, the case was dismissed with prejudice on December 26, 2023.”
The lawsuit was originally dismissed in February 2023 but MLW refiled it with the necessary amendments, and a judge denied a motion to dismiss last June.
WWE and MLW Settle Antitrust Lawsuit for $20 Million
In a recent development, World Wrestling Entertainment (WWE) and Major League Wrestling (MLW) have settled an antitrust lawsuit that was filed by MLW in 2022. The lawsuit alleged that WWE had violated the Sherman Act, which deals with antitrust practices, talent poaching, and other related issues.
According to a 10-K filing made with the Securities and Exchange Commission (SEC), the settlement amount agreed upon by both parties is $20 million. The filing states that the lawsuit was officially settled on December 22, 2023, and the case was subsequently dismissed with prejudice on December 26, 2023.
The initial complaint was filed by MLW against WWE on January 11, 2022, in the Northern District of California. MLW accused WWE of interfering with its contractual relationship with certain media platforms and engaging in anticompetitive and unfair business practices, which violated both the Sherman Antitrust Act and California law.
Although the lawsuit was initially dismissed in February 2023, MLW refiled it with necessary amendments, and a judge denied WWE’s motion to dismiss the case in June of the same year. This led to further legal proceedings until the recent settlement agreement was reached.
The settlement amount of $20 million signifies the resolution of the dispute between WWE and MLW. While the specific terms of the settlement have not been disclosed publicly, it is expected to bring an end to the legal battle between the two wrestling organizations.
Antitrust lawsuits in the sports entertainment industry are not uncommon. They often arise when one company is accused of engaging in practices that restrict competition or harm other businesses in the market. In this case, MLW alleged that WWE’s actions had negatively impacted their contractual relationships and overall business operations.
The settlement serves as a reminder of the importance of fair competition within the wrestling industry. It highlights the need for companies to adhere to antitrust laws and avoid engaging in practices that could be deemed anticompetitive or unfair.
As the wrestling landscape continues to evolve, it is crucial for organizations to maintain a level playing field and respect each other’s business interests. The settlement between WWE and MLW not only resolves their legal dispute but also sends a message to the industry about the consequences of antitrust violations.
Moving forward, both WWE and MLW will likely focus on their respective operations and continue to provide entertaining content for their fans. The settlement allows them to put the legal battle behind them and concentrate on growing their businesses in a competitive yet fair manner.
In conclusion, the settlement of the antitrust lawsuit between WWE and MLW for $20 million marks the end of a legal dispute that had been ongoing since 2022. The resolution emphasizes the importance of fair competition within the wrestling industry and serves as a reminder for companies to comply with antitrust laws. With the case now settled, both WWE and MLW can redirect their attention towards their core operations and strive to deliver top-notch entertainment for their audiences.