More Details on Vince McMahon’s New Entertainment Venture, Reactions Within WWE

– As previously reported, former WWE Chairman and TKO executive Vince McMahon is lining up his next business venture. The business is described as an “entertainment hub company” that seeks to finance, develop, and produce both film and television projects and will be based in the Los Angeles area. Fightful Select has more details on McMahon’s new venture, along with reactions to the news within WWE.

According to Fightful’s report, sources with knowledge of the situation noted that the business is not supposed to be anything close to resembling a wrestling promotion. However, it’s stated that “it’s not out of the realm of possibility” that the company could finance something that is wrestling related, though, it’s not expected.

There were theories as early as two months ago by those who worked close to McMahon that he was lining up a new business venture. This popped up because some of the individuals who left WWE had secure positions, and they reportedly would not have left unless they had something new lined up with McMahon.

WWE talents reportedly informed Fightful that they did not know about McMahon’s plans to start a new entertainment company, and they said they hadn’t been contacted about it. Within the entertainment industry, there is said to be skepticism about McMahon’s new business venture coming to fruition. An actor speaking to Fightful noted, “I find it hard to believe that anyone would attach themselves to this company considering his background, but there are plenty of people who just don’t care and are desperate to get their project off the ground. I can’t imagine anything actually getting done until his lawsuit is settled.”

Additionally, the report notes that there are individuals within the entertainment industry interviewed by McMahon’s new entertainment group for potential upcoming projects, though, there still aren’t many details on that as of yet.

Previously, Vince McMahon resigned from his post as Executive Chairman of the Board of WWE parent company TKO Group Holdings earlier in January, following allegations and a civil lawsuit by former WWE employee Janel Grant. The lawsuit alleges McMahon of sex trafficking and sexual assault committed against her.