NXT Tag Team Championship was created by a wresting entertainment company.
World Wrestling Entertainment , Inc. -LRB- d / b / a WWE -RRB- is an American publicly traded , privately controlled entertainment company that deals primarily in professional wrestling , with revenue also coming from film , music , video games , product licensing , and direct product sales .. d / b / a. Trade name. professional wrestling. professional wrestling. WWE also refers to the professional wrestling promotion itself , founded by Jess McMahon and Toots Mondt in 1952 as Capitol Wrestling Corporation Ltd. .. Capitol Wrestling Corporation. Capitol Wrestling Corporation. professional wrestling. professional wrestling. professional wrestling promotion. professional wrestling promotion. Jess McMahon. Jess McMahon. Toots Mondt. Toots Mondt. As of 2016 , it is the largest wrestling promotion in the world , holding over 500 events a year -LRB- with the roster divided up into various globally traveling brands -RRB- , and broadcasting to about 36 million viewers in more than 150 countries .. The company 's global headquarters is located in Stamford , Connecticut , with offices in major cities across the world .. As in other professional wrestling promotions , WWE shows are not legitimate contests , but purely entertainment-based , featuring storyline-driven , scripted , and choreographed matches , though they often include moves that can put performers at risk of injury if not performed correctly .. professional wrestling. professional wrestling. entertainment-based. Sports entertainment. storyline. Angle ( professional wrestling ). scripted. Glossary of professional wrestling terms#Work ( noun ). This was first publicly acknowledged by WWE 's owner Vince McMahon in 1989 to avoid taxes from athletic commissions .. Vince McMahon. Vince McMahon. Since the 1980s , WWE publicly has branded their product as sports entertainment , acknowledging the product 's roots in competitive sport and dramatic theater .. sports entertainment. sports entertainment. The company 's majority owner is its chairman and CEO , Vince McMahon .. Vince McMahon. Vince McMahon. CEO. CEO. Along with his wife Linda , children Shane and Stephanie , and son-in-law Paul `` Triple H '' Levesque , the McMahon family holds approximately 70 % of WWE 's equity and 96 % of the voting power .. Linda. Linda McMahon. Shane. Shane McMahon. Stephanie. Stephanie McMahon. McMahon family. McMahon family. As of August 2014 , Eminence Capital , a New York-based hedge fund , acquired a 9.6 % stake in WWE while the McMahon family retains 90.4 % interest .. McMahon family. McMahon family. The current entity , incorporated on February 21 , 1980 , was previously known as Titan Sports , Inc. , which was founded in 1979 in South Yarmouth , Massachusetts .. It acquired Capitol Wrestling Corporation , the holding company for the World Wrestling Federation , in 1982 .. Capitol Wrestling Corporation. Capitol Wrestling Corporation. Titan was renamed World Wrestling Federation , Inc. in 1998 , then World Wrestling Federation Entertainment , Inc. in 1999 , and finally the current World Wrestling Entertainment , Inc. in 2002 .. Since 2011 , the company has officially branded itself solely as WWE though the company 's legal name was not changed .