Aug 2 (Reuters) – World Wrestling Entertainment (WWE.N) mentioned on Wednesday U.S. federal legislation enforcement brokers executed a search warrant and served a subpoena to Executive Chairman Vince McMahon final month, although no fees have been introduced in opposition to him.

WWE, which reported its second-quarter outcomes on Wednesday, mentioned McMahon has been on a medical go away since July 11 after a significant spinal surgical procedure.

Former CEO and Chairman McMahon returned to the corporate’s board in January to assist forge a deal with Endeavor Group-owned (EDR.N) combined martial arts franchise UFC to kind a brand new, publicly listed leisure large valued at about $21 billion.

He had retired in July final 12 months amid allegations of misconduct and paid $17.4 million to the corporate to cowl prices associated to an investigation into the case.

He was investigated by WWE’s board for agreements to pay $12 million over the previous 16 years to suppress allegations of sexual misconduct and infidelity, the Wall Street Journal reported in June final 12 months.

McMahon is credited with reworking WWE from a regional participant in a extremely fragmented business of the Eighties to a world large.

WWE’s second quarter income rose 25% to $410.3 million from a 12 months earlier, above estimates of $398.9 million, in accordance with Refinitiv knowledge. Its revenue of 91 cents per share was additionally in-line with estimates.

Shares of the corporate have been up almost 2% in premarket buying and selling, after having risen roughly 52% this 12 months.

Revenue from WWE’s Live Events section jumped 51%, due to sturdy demand for its home and worldwide occasions akin to WrestleMania, Backlash and Night of Champions.

Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Savio D’Souza and Shinjini Ganguli

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