Legal Battle Resolution Reveals Financial Terms
Summary
– WWE pays $20 million to MLW in settlement of protracted antitrust lawsuit, as revealed in TKO Group Holding’s 2023 business report.
– Legal dispute stemmed from MLW’s allegations of coercive practices by WWE, hindering partnerships with third parties.
– Settlement ends nearly two years of litigation, clarifying the financial ramifications for WWE.
The resolution of the protracted legal battle between MLW and WWE in an antitrust lawsuit has finally unveiled the financial aspects of the settlement, offering fresh insights into the outcome of the dispute. It has been revealed that WWE paid $20 million to MLW as part of the settlement, although exact details had previously been kept confidential until now.
The legal dispute between MLW and WWE originated in January 2022 when MLW initiated legal proceedings against WWE, alleging coercive practices to discourage third parties from establishing or maintaining partnerships with MLW. MLW specifically cited instances where WWE purportedly interfered with potential agreements involving media outlets such as Vice TV and the streaming platform Tubi.
After nearly two years of legal proceedings, WWE and MLW reached a settlement agreement in December 2023, effectively ending the contentious litigation. The disclosure of the settlement’s financial terms, notably WWE’s commitment to pay $20 million, marks a significant development in the legal saga, providing clarity on the financial ramifications for WWE arising from the antitrust lawsuit filed by MLW.
The revelation of WWE’s financial obligation to MLW came to light through TKO Group Holding’s 2023 business report, which was made public recently. This disclosure sheds light on the economic impact of the settlement and underscores the significance of the resolution reached between the two wrestling promotions.
In addition to the legal developments, MLW’s history and evolution are worth noting. Established by Court Bauer, who had roots in WWE, MLW has undergone various transformations since its inception. After initially closing its doors in 2004, MLW evolved into a radio and podcast network before returning in 2017 as a professional wrestling company.
MLW is gearing up for its upcoming event, MLW Intimidation Games 2024, slated to take place in Queens, New York, on Thursday, February 29th.
