Vince McMahon is stepping down as CEO and chairman of WWE during an an investigation into alleged misconduct involving the longtime leader and public face of the wrestling organization.
The WWE is also investigating actions by Laurinaitis.
WWE matches are now held in professional sports stadiums it the organization has a sizeable overseas following. It has a broadcast partnership with Saudia Arabian media company MBC Group and performs one to two live pay-per-view shows in Saudi Arabia each year. Revenue last year exceeded $1 billion for the first time and the company has television deals with Fox and NBCUniversal. Last month it announced a multi-year expansion of its original programming partnership with A&E.
Stephanie McMahon, who will take over at least temporarily as the leader of WWE, announced last month that she was taking a leave of absence from the most of her responsibilities at the organization. She had been serving as the company's chief brand officer.
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