Vince McMahon to appear live on WWE’s SmackDown

Shares of World Wrestling Entertainment Inc. WWE, -3.64% slumped 2.6% in premarket trading Friday, after the media and entertainment company said Vince McMahon will appear live on its “SmackDown” TV event. The show will air Friday at 8 p.m. Eastern on FOX. Earlier, WWE disclosed that it was investigating McMahon for “alleged misconduct,” and McMahon had stepped back from his responsibilities as chairman and chief executive with immediate effect. FOX parent Fox Corp. FOXA, -0.65% and News Corp NWS, +0.51%, parent of MarketWatch publisher Dow Jones, share common corporate control. WWE’s stock has climbed 10.3% over the past three months through Thursday while the S&P 500 SPX, +0.22% has shed 16.9%.