It is a name that has become almost synonymous with professional wrestling but its bearer, Dwayne Johnson, has never legally owned \u201cThe Rock\u201d. That will change under a new agreement with the WWE under which Johnson will also join the board of TKO Group, the sports and entertainment company that houses WWE and UFC.<\/p>\n
\u201cThe Rock\u201d is a name is derived from Johnson\u2019s father, WWE Hall of Famer Rocky Johnson, who was the first Black champion in WWE history (alongside partner Tony Atlas), according to the WWE. Johnson, in an interview on CNBC, would not discuss the financial value of the deal with WWE but said that the name \u201cThe Rock\u201d means a lot to him personally.<\/p>\n
\u201cI owe that name everything,\u201d Johnson said. \u201cWithout that name there\u2019d be no wrestling career. There\u2019d be no Hollywood career.\u201d Johnson, a movie and wrestling star, has a business portfolio that includes his production company Seven Bucks Productions, tequila brand Teremana Tequila, energy drink company ZOA Energy, Project Rock apparel brand and the United Football League.<\/p>\n
Johnson said on CNBC that this will be his first time serving on the board of a publicly traded company. \u201cI\u2019m very motivated to help continue to globally expand our TKO, WWE, and UFC businesses as the worldwide leaders in sports and entertainment \u2013 while proudly representing so many phenomenal athletes and performers who show up every day putting in the hard work with their own two hands to make their dreams come true and deliver for our audiences,\u201d Johnson said in a prepared statement.<\/p>\n
\u201cI\u2019ve been there, I\u2019m still there and this is for them.\u201d TKO Group Holdings Inc says Johnson\u2019s board appointment, effective Tuesday, reflects its \u201ccommitment to delivering long-term value and strong performance for shareholders through strategic growth initiatives across both UFC and WWE.\u201d<\/p>\n
Johnson began his wrestling career with WWE in 1996. The third-generation wrestler became famous for rivalries with wrestlers including \u201cStone Cold\u201d Steve Austin and Triple H and his finishing maneuver, The Rock Bottom, according to his biography on WWE\u2019s website.<\/p>\n
He has won eight WWE championships, has a New York Times bestselling autobiography, \u201cThe Rock Says\u201d, and starred in movies including \u201cFast X\u201d, \u201cBlack Adam\u201d, \u201cJungle Cruise\u201d and \u201cJumanji: Welcome to the Jungle.\u201d Johnson has recently appeared on World Wrestling Entertainment Inc\u2019s \u201cSmackdown\u201d and \u201cRaw\u201d television programs, with rumours swirling that he may compete at this year\u2019s WrestleMania.<\/p>\n
\u201cI am thrilled to partner with Dwayne and welcome his immense talent to TKO\u2019s Board,\u201d TKO CEO Ariel Emanuel said in a prepared statement. \u201cDwayne brings an incredible track record of creating content and building globally recognised consumer brands, and he will play a key role in realizing our ambitions for TKO.\u201d<\/p>\n
TKO also announced Tuesday that Brad Keywell will become a board member. Keywell has co-founded and led multiple companies, including Groupon, Echo Global Logistics, MediaOcean, and Uptake Technologies, where he is currently founder and executive chairman.<\/p>\n
The additions of Johnson and Keywell will increase TKO\u2019s board from 11 to 13 members. Shares of TKO Group surged more than 19 per cent in morning trading after TKO announced WWE\u2019s weekly television show \u201cRaw\u201d will move to Netflix next year as part of a major streaming deal worth more than USD 5 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
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