World Wrestling Entertainment Inc. Chairman Vince McMahon appears in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 in Las Vegas, Nevada.
Ethan Miller | Getty Images
Vince McMahon plans to sell a substantial chunk of his stake in TKO, the parent company of WWE, the wrestling empire founded by his father.
TKO’s stock fell 5% after the closing bell Thursday.
The move could be an indication that McMahon plans to get out of his family business.
Earlier this year, WWE merged with UFC to form TKO, which is majority owned by Endeavor Group.
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