WWE sold to Saudi Arabia's Public Investment Fund

In a shocking turn of events, reports have emerged that Saudi Arabia's Public Investment Fund (PIF) has bought the global entertainment company, World Wrestling Entertainment (WWE).

The news comes hours after Stephanie McMahon, co-CEO of WWE, announced her resignation from the company.

This move follows the return of Vince McMahon, the founder and former chairman of WWE, who came out of retirement to take up the position of chairman of the board once again.

The reports suggest that Vince McMahon made the decision to sell WWE to the PIF as a means of getting the company off the public stock market.

This move would give the company more control over its operations and financials, as well as provide a significant influx of capital for the company to expand and grow.

The PIF is a sovereign wealth fund established by the Saudi government with the goal of promoting economic development in the country.

The fund has a diverse portfolio of investments, including technology, real estate, and infrastructure projects.

The acquisition of WWE is a significant move for the PIF, as it expands the fund's portfolio into the entertainment industry.

The details of the deal have not been made public, and it is unclear what the acquisition will mean for WWE's operations and its fans around the world.