Former WWE Chairman and TKO executive, Vince McMahon, is reportedly planning his next business pursuit, according to sources from eWn.
This new venture is described as an “entertainment hub company” which will focus on funding, developing, and producing cinematic and television projects. The company is expected to be based in the Los Angeles area.
Further information on McMahon’s upcoming project and the response it has generated within the WWE has been released by Fightful Select. They have divulged that McMahon’s new business was not intended to operate as a wrestling promotion, the possibility of the company financing a wrestling-related endeavor isn’t entirely off the cards.
Two months ago, the rumor of McMahon starting a new business initiative began to circulate within his circles. This information stemmed from the fact that certain individuals who had left the WWE were in secure positions and were unlikely to leave without a new venture lined up with McMahon.
However, WWE talents reportedly informed Fightful that they were not aware of McMahon’s intentions to start a new entertainment enterprise and mentioned they hadn’t been contacted for any information.
In the entertainment business, doubts have arisen regarding the feasibility of McMahon’s newest business scheme.
An actor commented, “I find it hard to believe that anyone would attach themselves to this company considering his background, but there are plenty of people who just don’t care and are desperate to get their project off the ground. I can’t imagine anything actually getting done until his lawsuit is settled.”
To add to this, the report unveils that McMahon’s new entertainment entity has conducted interviews with individuals from the entertainment sector regarding potential future projects, although further details are still undisclosed.
Earlier this year, McMahon resigned from his position as TKO Executive Chairman in January amidst allegations and a civil lawsuit lodged by former WWE employee Janel Grant. The lawsuit was filed against McMahon, John Laurinaitis, and the WWE, claiming a variety of charges against the 78-year-old billionaire, including sex trafficking and rape, among others.