Wrestling-WWE

World Wrestling Entertainment, Inc. more...

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(WWE) is a publicly traded, privately controlled integrated media (focusing in television, internet, and live events), sports, and entertainment company dealing primarily in the professional wrestling industry, with major revenue sources also coming from movies, music, product licensing, and direct product sales. Vince McMahon is the majority owner and Chairman of the company and his wife Linda McMahon holds the position of Chief Executive Officer (CEO). Together with their children, Executive Vice President of Global Media Shane McMahon and Senior Vice President of Creative Writing Stephanie McMahon, the McMahons hold approximately 70% of WWE's economic interest and 96% of all voting power in the company. The company's global headquarters are located at 1241 East Main Street in Stamford, Connecticut, with international offices in Los Angeles, New York City, London, and Toronto. The company was previously known as Titan Sports, Inc. before changing to World Wrestling Federation Entertainment, Inc., and most recently becoming World Wrestling Entertainment, Inc.

WWE's business focus is on professional wrestling. It is currently the largest professional wrestling promotion in the world, and holds an extensive library of videos representing a significant portion of the visual history of professional wrestling. The promotion previously existed as the Capitol Wrestling Corporation, which promoted under the banner of the World Wide Wrestling Federation (WWWF), and later the World Wrestling Federation (WWF). WWE promotes under three brands; RAW, SmackDown! and ECW. WWE is also home to three of the eight internationally recognized world heavyweight titles.

WWE's revenue in fiscal 2006 (from May 2005 to April 2006) was approximately $400 million (US), with a net profit of approximately $47 million. As of August 2006, the company's market capitalization is over $1 billion (US). Its stock is traded on the NYSE as WWE.

History

The beginning/Capitol Wrestling

Roderick James "Jess" McMahon was a boxing promoter whose achievements included co-promoting a bout in 1915 between Jess Willard and Jack Johnson. In 1926, while working with Tex Rickard (who actually despised wrestling to such a degree he prevented wrestling events from being held at Madison Square Garden between 1939 and 1948), he started promoting boxing in Madison Square Garden in New York. The first match during their partnership was a light-heavyweight championship match between Jack Delaney and Paul Berlenbach.

Around the same time, professional wrestler Joseph Raymond "Toots" Mondt created a new style of professional wrestling that he called Slam Bang Western Style Wrestling to make the sport more appealing to spectators. He then formed a promotion with wrestling champion Ed Lewis and his manager Billy Sandow. They persuaded many wrestlers to sign contracts with their Gold Dust Trio. After much success, a disagreement over power caused the trio to dissolve and, with it, their promotion. Mondt formed partnerships with several other promoters, including Jack Curley in New York City. When Curley was dying, Mondt moved to take over New York wrestling with the aid of several bookers, one of whom was Jess McMahon.

Read more at Wikipedia.org