Former WWE Studios President Michael J. Luisi Sold Over 12,000 Shares Of WWE Prior To His Firing

Some interesting info.

News broke this past Thursday that WWE Studios President Michael J. Luisi had been relieved of his duties. The report of Luisi's firing came by way of ''. It was noted within the report that the group whom would report to Luisi will now be reporting to WWE Co-President Michelle Wilson. Michael Luisi's role will be temporarily filled by Tim Schmidt who is the Vice President of Business Affairs and Operations for WWE.

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In the same report from '', it read that the reason for Michael Luisi's firing from his role as President of WWE Studios was because of an argument that he had with Michelle Wilson. Luisi has the been the President of WWE studios for eight years and throughout his tenure, the company has released movies such as: 'That's What I Am' starring Randy Orton, 'The Marine 3: Homefront' starring The Miz, 'See No Evil 2' and many more films were released while the studios were under the helm of Michael Luisi.

Today, a stock report from the 'Fairfield Current' noted that Michael Luisi sold over 12,000 shares of WWE on August 16th. The reports of his firing first broke on August 23rd.

"World Wrestling Entertainment, Inc. (NYSE:WWE) insider Michael J. Luisi sold 12,461 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $79.01, for a total value of $984,543.61. Following the transaction, the insider now owns 69,046 shares in the company, valued at $5,455,324.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website."

While on the topic of WWE Presidents, during a recent interview WWE Co-President George Barrios gave his take on the deals that the sports-entertainment company inked with FOX and USA Network.

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