The company is additionally involved in licensing its intellectual property to other companies to produce video games and action figures. In , the promotion ceased branding itself as World Wrestling Entertainment and began solely branding itself with the initials WWE. Prior to September , the company's majority owner was its executive chairman, third-generation wrestling promoter Vince McMahon , who retained a The current entity, which was originally named Titan Sports, Inc.
It acquired Capitol Wrestling Corporation Ltd. WWE is the largest wrestling promotion in the world. Its main roster is divided into two touring brands , Raw and SmackDown. Overall, WWE programming is available in more than one billion homes worldwide in 30 languages. As in other professional wrestling promotions, WWE shows are not true 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.
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The pre-determined aspect of professional wrestling was publicly acknowledged by WWE's then-owner Vince McMahon in in order to avoid taxes from athletic commissions. WWE markets its product as sports entertainment , acknowledging professional wrestling's roots in competitive sport and dramatic theater. In , WWE began to explore a potential sale of the company, amidst an employee misconduct scandal involving McMahon that had prompted him to step down as chairman and CEO, although he returned as executive chairman.
The merger was completed on September 12, There is uncertainty as to whom the founder of the CWC was. Some sources state that it was Vincent J. Vincent J. In a now infamous situation, the NWA sent former five-time world champion and legitimate wrestler Lou Thesz to Toronto to face Rogers on January 24, Thesz recalls this was not planned and prior to the match remembered telling Buddy "we can do this the easy way or the hard way.
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Once word reached back to Mondt and McMahon, at first they simply ignored the title change. They brought along with them Willie Gilzenberg , long time boxing and wrestling promoter in New Jersey.
