A professional wrestling promotion (also federation or fed) is a company or business that regularly performs shows involving professional wrestling. "Promotion" also describes a role which entails management, advertising and logistics of running a wrestling event (see promoter). Within the convention of the show, the company is a sports governing body which sanctions wrestling matches and gives authority to the championships and is responsible for determining the divisions, rankings, etc. of wrestlers. In truth, the company serves as a touring theatre troupe, as well as event promotion body for its own events.
Currently, the major wrestling organizations in the United States are World Wrestling Entertainment (WWE), Total Nonstop Action (TNA) and Ring of Honor (ROH). The major Mexican lucha libre promotions are Consejo Mundial de Lucha Libre (CMLL) and Asistencia Asesoría y Administración (AAA). The top Japanese puroresu promotions are New Japan Pro Wrestling (NJPW), Dragon Gate (DG), All Japan Pro Wrestling (AJPW), and Pro Wrestling Noah. There are also small promotions called indies or territories around the world.
Most promotions are self-contained, organized around one or more championships and do not acknowledge or recognize the legitimacy of other promotions' titles unless they share a working agreement. Others, such as the NWA, act as an umbrella organization which governs titles that are shared among multiple promotions.
Major promotions have a permanent roster of talent under exclusive contract to them. Independent promotions may have contracted workers but are just as likely to use free agents who are not under exclusive contract with any promotion. Some wrestlers may work in several independent promotions at the same time.