The history of WWE

The WWE (World Wrestling Federation) is instantly recognizable to wrestling fans and beyond the world over.

As the largest wrestling body on the planet, the corporation is worth almost $7 billion. It generates an annual revenue of over $1 billion and is estimated to have around 1.5 billion fans scattered across the globe.

Although the WWE company is now listed on the stock market, its beginnings were humble and filled with tribulation. This article outlines the company’s history and how it has become a world leader in the entertainment industry.

Capitol Wrestling Corporation

The beginnings of the WWE can be traced back to 1953 to a wrestling promotor called the Capitol Wrestling Corporation (CWC). Although there is some dispute over who the exact founder was, it is accepted that it was either Jesse McMahon (a famous professional wrestler) or his son, Vincent J. McMahon.

Airing its first show in January 1953, CWC quickly became popular and soon joined the National Wrestling Alliance (NWA). Together, the companies were responsible for a massive drive in wrestling promotion and the subsequent increase in the sport’s popularity.

In just a few years, CWC had expanded massively and was responsible for almost 70% of all booking decisions made by the NWA. However, this relationship was short-lived, and after a dispute about booking athletes for an NWA World Heavyweight Championship, CWC left the NWA.

After leaving the NWA in 1963, the CWC officially renamed itself the World Wide Wrestling Federation (WWWF). This name change was in branding only, and CWC remained the legal entity that handled all operations.

World Wide Wrestling Federation and World Wrestling Federation

Under the new name WWWF, the company was very conservative in how it promoted wrestling. One of the most visible examples is that it only aired fights monthly—in contrast to other promoters at the time, which offered weekly or bi-weekly events.

Despite showing fewer fights, the WWWF quickly became popular and soon secured a TV contract that brought even more exposure to the brand. As the promoter grew, the arguments that caused the rift with the NWA were forgotten, and the WWWF officially rejoined the group in 1971.

Vincent K. McMahon joined events as the group grew, and he began working as a commentator. He also made several appearances as a ring announcer. Thanks to his hard work and guided by his father’s vision, the WWWF grew exponentially. In 1979, the group underwent another name change to the World Wrestling Federation (WWF). When asked why, the group responded that the change was for marketing reasons.

A year later, in 1980, the WWF was officially incorporated under the new umbrella of Titan Sports Inc.—a company founded by the younger McMahon. Continuing operations, the group purchased CWC Ltd. two years later and once again pulled out of partnership with the NWA.

This move set the group up for their 1984 campaign to completely revolutionize wrestling throughout the country—and later, the world. This development spurred an incredible expansion in national and international promotions.

Part of this expansion was pilfering wrestlers from other promotors, including the NWA and AWA (American Wrestling Association). Among these was Hulk Hogan, one of the most popular wrestlers in WWE history.

Another reason for the wrestling boom during this time was the launch of WrestleMania in 1985. Promoted on MTV and featuring celebrities like Cyndi Lauper and Muhammad Ali, the event drew in thousands of fans and became the cornerstone of WWF.

World Wrestling Federation Goes Public

After the initial popularity boom, the WWF went through multiple ups and downs, particularly when it entered a rivalry with World Championship Wrestling (WCW) for Monday night viewers. Called the Monday Night Wars, the rivalry helped bring the WWF back from the brink of insolvency.

By 1999, the WWF had recovered massive market share due to its so-called Attitude Era, which featured exciting rivalries and future wrestling legends like Stone Cold Steve Austin and The Undertaker. McMahon became synonymous with the brand by entering the spotlight during this time. The brand’s explosive growth continued thanks to new athletes and a return to regular TV programming.

Soon, the company was listed on the New York Stock Exchange and valued at around $172.5 million. Bolstered by its listing, WWF decided to purchase ECW (Extreme Championship Wrestling) after the latter declared bankruptcy in 2001. This acquisition turned the WWF into the largest promoter of wrestling worldwide.

World Wrestling Entertainment

A year after this milestone, the World Wildlife Fund sued the growing group over a trademark dispute over the acronym WWF. After losing the lawsuit, the wrestling behemoth once again changed its name. Stating that the new name was symbolic of its dedication to entertainment, its official title became World Wrestling Entertainment.

After the rebranding, the WWE seemed unstoppable and continued attracting viewers in the US and far beyond. Alongside regular programming, the brand signed multiple licensing agreements that spurred the creation of video games and branded merchandise. Following examples like Nolimit games in creating unique entertainment, the brand has been increasingly featured in iGaming and beyond.

Through these deals and continued viewership growth, the company seemingly faced no obstacles to its meteoric rise. In 2022, however, the brand was rocked by controversy regarding an affair that resulted in Vince McMahon stepping down from the group’s leadership.

Replaced by his daughter, Stephanie, the group showed consistent growth until the start of 2023. At this time, rumors spread that the company was listed for sale. Just ten days into the new year, Stephanie stepped down, and her father returned to WWE, again assuming the position of executive chairman.

This move allowed him to be part of the negotiation process that saw WWE merge with UFC (Ultimate Fighting Championship). The merger formed a new holding company, TKO Group Holdings, and went public on the New York Stock Exchange in April. At the time of listing, WWE was valued at $9.1 billion.

In the new group, Endeavor (the UFC’s holding company before the merger) holds 51% of the shares, while WWE shareholders control 49%. The new agreement is the first time since the group’s establishment that the McMahon family does not hold a controlling stake in the company.

Continuing to operate WWE and UFC as separate entities, the WWE has remained the ultimate authority in wrestling even after the merger was finalized in September 2023.