WWE: Employees Ordered to Return to Office Full-Time, Law Firm Investigating WWE Sale, Steve Austin

Apr 27, 2023

WWE Reportedly Ending Work At Home Option for Employees, Orders Return to Full-Time Office Work

WWE reportedly recently ordered for all of their employees to return to full-time office work, according to PWInsider.

Mike Johnson reported that his sources stated that WWE CEO Nick Khan recently sent an email to all of WWE’s staff informing them that starting this May, the company would no longer be allowing a hybrid work-at-home and in-office work schedule. Khan stated that all employees will be required to return to WWE’s office for full-time work. Johnson reported that this hybrid schedule had been in place since last year due to the effects from the coronavirus pandemic.

This email reportedly stated:

“We are all fortunate to be three years, one month and fourteen days removed from the moment where stay at home orders were put in place, businesses shuttered (some permanently) and sports seasons canceled. Of course, at WWE and thanks to all of you, we continued to move forward, never missing a week of production in the safest way possible.
As I have had the good fortune of meeting with so many of you over the last few months, it has become apparent to me that our business thrives on creativity and an unparalleled work ethic. All of us physically together is a part of that. As such, we will be going back to what has always been the case prior to COVID, which is a return to five days a week in office.
Nothing replaces our ability to interact with one another as we collectively continue to build and represent our company. We will all connect better and be better.
Monday, May 1, 2023, will be the start of our full time return to office.
For those based in Stamford, our first group has moved to our new HQ and the rest of us will be there shortly. We thank you for your patience with this process. If you have not yet seen it, it is a spectacular work space that we believe you will all be quite proud of.
Thank you for all,
Nick”

Law Firm Launches Investigation into WWE’s Sale to Endeavor

As noted before, WWE announced earlier this month that they have entered an agreement to sell their company to Endeavor, who is the parent company of UFC. As part of the terms of the deal, WWE and UFC will be merging into a new currently unnamed company.

PWInsider’s Mike Johnson reported that Law firm Julie & Holleman LLP issued an official statement on Wednesday stating that they are currently investigating both WWE and Endeavor over potential legal issues regarding WWE’s sale to Endeavor.

This investigation was stated to be focused around Endeavor’s private equity firm Silver Lake and if the upcoming sale and merger of WWE was made in fairness to WWE’s shareholders.

Official press release:

EDR SPECIAL ALERT: Endeavor Shareholders Interested in Pursuing Claims Regarding Merger with WWE Should Contact Shareholder Rights Firm Julie & Holleman LLP
NEW YORK, April 26, 2023 /PRNewswire/ — Shareholder rights law firm Julie & Holleman LLP is investigating the proposed merger between Endeavor Group Holdings, Inc. (NYSE: EDR) and World Wrestling Entertainment, Inc. (NYSE: WWE), whereby the two entertainment giants will combine to form a new public company.
To learn more about the investigation and potential legal claims, click here.
Endeavor is a global sports and entertainment company whose portfolio consists of the mixed martial arts organization UFC, sports and media company IMG, and entertainment agency WME. Endeavor is controlled by private equity firm Silver Lake, which holds about 70% of the company’s voting power. WWE is also a controlled company, with the majority of its voting power owned by Vincent K. McMahon.
Following the merger, which is expected to close in the second half of 2023, existing Endeavor shareholders will own 51% of the new company, and existing WWE shareholders will own 49% of the company.
Julie & Holleman is investigating potential legal claims regarding the fairness of the merger terms and potential conflicts of interest. Among other things, Silver Lake may have interests that diverge from other shareholders’ interests, and it could be using its controlling stake to extract unfair benefits. Julie & Holleman is also concerned that the proposed merger might have driven the sale of its IMG business to another private equity firm.
If you would like more information about Julie & Holleman’s investigation, or about the acquisition in general, please contact W. Scott Holleman by email at scott@julieholleman.com or by telephone at (929) 415-1020. You may also visit the firm’s website by clicking here.
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm’s attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising.
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Steve Austin Comments on WWE’s Plans for Him at WrestleMania 39

Bleacher Report held a recent interview with WWE Hall of Famer Stone Cold Steve Austin. One of the topics discussed included Austin revealing what WWE’s plans were for him at WrestleMania 39 had he wrestled at the event.

“The concrete idea was a match. It was a match with one of the top guys in the business, period. I’ll let everybody speculate about that, but yeah, it was a match and I just didn’t think I could get ready for it in time because I didn’t know my schedule, which is what I told them. ‘I don’t know what my life looks like until I finish this show [A&E’s Steve Austin Takes on America].’
I did the best I could to get ready on short notice for Kevin Owens [at WrestleMania 38] and I barely did anything. This would have been a real competitive match.”

Austin also gave his thoughts on if he would be interested in potentially wrestling again in the future.

“I said many years ago, ‘I’m done, I’m never going to wrestle again, but if the stars ever aligned…’ and they did. When they approached me about working with Kevin Owens at WrestleMania 38, I turned them down several times until we came up with that idea. So, we went out and did it.
Could it still happen? Yeah, it could still happen. Am I lobbying for it? Am I trying to get anybody talking about it? No. If you ever ask me a question, I’m going to give you an honest answer.”