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World Wrestling Entertainment, Inc., commonly shortened to its trade name WWE, is an American professional wrestling promotion. A global integrated media and entertainment company, WWE has also branched out into other fields, including film, American football, and various other business ventures. The company is additionally involved in licensing its intellectual property to companies to produce video games and action figures.
As in other professional wrestling promotions, WWE shows are not legitimate contests but entertainment-based performance theater, featuring storyline-driven, scripted, and partially choreographed matches; however, matches often include moves that can put performers at risk of injury, even death, if not performed correctly. The pre-determined aspect of professional wrestling was publicly acknowledged by WWE’s owner Vince McMahon in 1989 in order to avoid taxes from athletic commissions. WWE brands its product as sports entertainment, acknowledging wrestling’s roots in competitive sports and dramatic theater.
The company’s majority owner is its former chairman and CEO, third-generation wrestling promoter Vince McMahon, who retains 38.6% ownership of the company’s outstanding stock and 81.1% of the voting power. The current entity, which was originally named Titan Sports, Inc., was incorporated on February 21, 1980, in South Yarmouth, Massachusetts. It acquired Capitol Wrestling Corporation Ltd., the holding company for the World Wrestling Federation (WWF), previously known as the World Wide Wrestling Federation (WWWF), in 1982. Titan was renamed World Wrestling Federation Entertainment, Inc. in 1999, and then World Wrestling Entertainment, Inc. in 2002. Since 2011, the company has branded itself solely with the initials WWE, though the legal name has not changed since 2002. Wikipedia.