Linda McMahon says money is no object in Connecticut Senate race

Former World Wrestling Entertainment CEO Linda McMahon, the newly nominated Republican Senate candidate in Connecticut, said Wednesday she's ready to spend whatever it takes to beat Democrat Richard Blumenthal.

Appearing on a network news program, McMahon brushed off accusations she made millions by promoting an industry allegedly rife with violence and steroid abuse.

Asked about this on ABC's "Good Morning America," McMahon said the entertainment model "will continue to evolve." She has said she plans to spend up to $50 million of her own money in the fall, telling the network: "It's money I've earned. It's money I'm willing to invest."

McMahon warned Democrats that a negative campaign against her could backfire.

Meanwhile, the Blumenthal campaign announced Wednesday that it will begin airing its first television ad of the general election. The ad, entitled "Stand Up", is a 30-second spot that was to begin airing Wednesday morning on statewide television.

"There is a clear choice in this election, and this ad reinforces that Dick Blumenthal is the only candidate in this race with a record of fighting for the people of Connecticut and standing up to the special interests," said Mindy Myers, campaign manager for the attorney general.