Talk is Jericho Recap w/ Dave Meltzer – WWE Purchases WCW, What Led to WCW’s Demise, Failed Invasion Angle, More!
Meltzer says it’s not really true that WCW and TBS officials didn’t want wrestling on the air. Some officials approached Ted Turner when WCW started losing money but he quickly shot down the idea of removing the brand from his network. As the company continued to lose money other options had to be considered and they began speaking with Vince McMahon.
The initial plan was to sell WCW to McMahon so McMahon would have complete creative control but the shows would still air on TBS. Unfortunately, due to McMahon’s exclusivity agreement with SpikeTV at the time, this plan came crashing down to earth. This is when Bischoff and his partners stepped in in an attempt to buy WCW, but that plan didn’t work either.
Eventually one high-up Turner/AOL executive grew tired of wrestling and thought it was low-brow. McMahon ultimately purchased the company outright for $2.5 Million. Meltzer notes that McMahon must still be laughing his ass off to this day, that he was able to buy his biggest rival’s history, assets and video library for that amount of money. He still has no idea why the company was sold for such a low price.
This basically eliminated all competition for McMahon, and no other wrestling company was able to make a mark until WWE moved back to the USA Network a few years later. At that time SpikeTV still wanted to air wrestling and this gave TNA a television home where they were able to have moderate success for a period of time.