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WWE has lost significant valuation since the scandal involving Vince McMahon broke last week.
IndieWire is reporting that the company has lost $500 million in valuation since last Thursday and that shares in the company stock decreased 10%. Though key business metrics have dropped throughout the week, ratings for Raw, Smackdown, and NXT 2.0 increased.
Vince McMahon is being investigated by the WWE Board for $3 million dollars in hush money payments to a former employee with whom he allegedly had an affair. WWE Head of Talent Relations, John Laurinaitis was also implicated in the investigation. After the news was reported by the Wall Street Journal, McMahon stepped aside as WWE CEO was replaced by Stephanie McMahon as interim CEO of WWE and Chairwoman of the Board. Laurinaitis took a leave from his position as well and was replaced by Bruce Prichard on an interim basis.
McMahon appeared on last week’s episode of Smackdown and this week’s episode of Monday Night Raw. McMahon said very little during both appearances, talking about the “Then, Now, Forever” signature on Smackdown, and hyping John Cena’s Raw appearance on Monday night.
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