NEW YORK (AP) — Longtime World Wrestling Entertainment impresario Vince McMahon has agreed to pay more than $12 million over the past 16 years to settle allegations of sexual misconduct and infidelity, the Wall Street Journal reports.
The amount is significantly larger than previously known.
Four women — all former WWE affiliates — signed agreements with McMahon, 76, barring them from discussing their relationships with him, the Journal reported Friday, citing people familiar with the deals and documents it reviewed.
McMahon stepped down as WWE CEO and chairman in mid-June amid an investigation into alleged misconduct, and the Journal reported at the time that he agreed to pay $3 million to a former paralegal who said she was sexually harassed at work.
McMahon will continue to oversee WWE’s creative content during the investigation.
WWE appointed McMahon’s daughter, Stephanie, as interim CEO and chairman during the investigation into his alleged misconduct, although he continued to oversee the creative side of the company. At the time, the organization said it would have no further comment until the investigation was complete.
McMahon has been the leader and most recognizable face in WWE for decades. When he purchased what was then the World Wrestling Federation from his father in 1982, wrestling matches were held in small venues and appeared on local cable channels.
WWE matches are now held in professional sports stadiums and the organization has a significant following overseas. It has a broadcasting partnership with Saudi media company MBC Group.
The organization underwent a seismic transformation under McMahon with events such as WrestleMania, a premier live production that drew millions of fervent viewers.
Revenue last year topped $1 billion for the first time, and the company has TV deals with Fox and NBCUniversal. Last month it announced a multi-year extension of its original programming partnership with A&E.
WWE stars became crossover sensations, including Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin and John Cena.
Shares of Stamford, Conn.-based World Wrestling Entertainment Inc. fell 2% on Friday.
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