WWE (previously World Wrestling Federation and World Wrestling Entertainment), an American professional wrestling promotion owned by the McMahon family and located in Stamford, Connecticut, has been producing events in the United Kingdom since 1989. The company's official website states that it has produced more than 3,000 events to date, with about 70% of them taking place in Europe. The first event held in England was in London on February 23, 1989. It was here where Hulk Hogan defeated Paul Orndorff for the WWF Championship, thus becoming the first champion in history to lose the title twice within the same night! Since then, WWE has expanded into many other countries in Europe and around the world. They have also had success in their native United States, having sold out Madison Square Garden several times since its inception. In addition to wrestling, the company produces other entertainment events such as music concerts, films, and games. WWE has also become known for its branded merchandise, with action figures, t-shirts, posters and mobile phone cases being some of the most popular products. WWE has been described as sports entertainment, with pro wrestlers performing various stunts and athletic moves at high speed with the intention of entertaining fans with their athletic abilities.