World Wrestling Entertainment (WWE) (WWE) CEO Vince McMahon has sold 1.55 million shares in the company in his estate planning, according to Bloomberg.
The sale is valued at about $32.5 million. It represents about 2% of WWE’s total Class A and Class B shares, still leaving McMahon with majority ownership and about 47% of total shares.
The news comes as WWE has been surrounded by takeover rumors this year, particularly after WME | IMG’s acquisition of UFC in July for $4 billion, Bloomberg reported.
But McMahon reportedly told the company after the transaction that he doesn’t plan to sell any more shares.
See also: UFC Has Sold Itself For $4 Billion
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WWE is not actively looking for a buyer, chief strategy and financial officer George Barrios told Bloomberg in July. But “we’re always open to listening,” he said, “to anything that we thought could help us, you know, execute more successfully, more aggressively in terms of what we’re trying to do and grow the business.”