The WWF acquires WCW...the WWE Corporate News Release from 2001.

[DC 536]

I found this while pissing about online, and thought it may be of interest to some of you. I've bolded parts that appear to hint at plans for WCW that didn't come to pass.

 

Credit WWE Corporate:

WWE Entertainment, Inc. Acquires WCW from Turner Broadcasting

 

Cross-Brand Storylines To Create Intriguing Possibilities for Fans

 

Expected to Increase Television Ratings, PPV Buys

Mar 23, 2001

STAMFORD, Conn., March 23, 2001 - WWE Entertainment, Inc. (NYSE: WWE) today announced its purchase of the World Championship Wrestling (WCW) brand from Turner Broadcasting System, Inc. (TBS Inc.), a division of AOL Time Warner.

The purchase of WCW creates a tag team partnership with the WWE brand that is expected to propel the sports entertainment genre to new heights.

 

In keeping with the company's strategic alliance with Viacom, new WCW programming is anticipated to air on TNN in the near future. The possibility of cross-brand storylines and intrigue, however, may start as early as Monday night during WWE Raw Is War on TNN and the final performance of WCW Monday Nitro Live on Turner Network Television (TNT).

 

The binding agreement provides WWE Entertainment with the global rights to the WCW brand, tape library, and other intellectual property rights.

 

"This acquisition is the perfect creative and business catalyst for our company," said Linda McMahon, Chief Executive Officer of WWE Entertainment. "This is a dream combination for fans of sports entertainment. The incendiary mix of WWE and WCW personalities potentially creates intriguing storylines that will attract a larger fan base to the benefit of our advertisers and business partners, and propel sports entertainment to new heights."

 

"The acquisition of the WCW brand is a strategic move for us," said Stuart Snyder, President and Chief Operating Officer for WWE Entertainment. "We are assuming a brand with global distribution and recognition. We are adding thousands of hours to our tape library that can be repurposed for home videos, television, Internet streaming, and broadband applications. The WCW opens new opportunities for growth in our Pay Per View, live events, and consumer products divisions, as well as the opportunity to develop new television programming using new stars. We also will create additional advertising and sponsorship opportunities. In short, it is a perfect fit."

 

WWE Entertainment, Inc. is an integrated media and entertainment company headquartered in Stamford, Connecticut, with sale offices in New York City, Chicago and Toronto. The company is an equal partner with NBC in the XFL, a new professional football league. The company can be found online at wwe.com and wweecorpbiz.com

 

###

 

Forward-Looking Statements : This news release contains forward-looking statements which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live events, broadcast television, cable television, pay-per-view, Internet, food and beverage, entertainment, professional sports, and licensed merchandise; acceptance of the Company's brands, media and merchandise within those markets; and other risks and factors identified in documents filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.

 

Media Contacts:

Gary Davis: 203-353-5066

Jayson Bernstein: 203-353-5015

 

Investor Relations Contact:

Tom Gibbons: 203-328-2576

[Guest Rog]

Awww, what could have been. What should have been.

 

I dont know, maybe its best the whole dream match invasion never happened, allows us to wonder what might have been.

[Guest Marshall Mac D]

Ive alway's wondered what it be like if vince kept wcw running. iv alway's liked both wcw and wwe but more wwe since to the end of wcw's day's it became bland so now im just thinking what would it be like if wcw would still be here today but under mcmahon control ?.

[Guest MastersGonads]

WCW really was before I became interested in wrestling, so my view may be slighly skewed or factually incorrect, so it really is based from what I have read and seen.

 

For me the demise of WCW was a product of their own success. WCW was the closet thing in the last decade to a challenge to the WWE since wrestling was more territorial and the WWE was the WWWF under Vince McMahon Snr

 

But like TNA have recently, WCW seemed in my opinion to look at what the WWE were doing and not at improving their own product. This came mainly in part due as I mentioned before to their own success.

 

They had pushed the WWE to the brink, with the WWE pulling out all the stops to keep them as the number one promotion, WCW really had to look to something else to become the number one promotion, but instead of improving the product, they seemed to become obsessed, with gaining one upmanship on the WWE, instead of improving the show, gaining more viewers and hurting the WWE by cable ratings, and not copying what the WWE was doing, and thus hurt them in the long run...

 

As I said this may have not been the case, but as an outsider looking in, this has always been my view

 

Any thoughts?

[King 277]

I think Bishoff's main goal in life back then was to beet Vince and I mean Vince not the WWE in the ratings.In fairness to him he did well for a while,but got to dependant on the NWO,when he needed to make new stars besides Goldberg.

 

In what could have been one the greatest and profitable angles in wrestling history tunred out to be one of the worst which is shame really.

[etz 78]

The death of WCW still irks me.

 

Yes Bischoff is somewhat to blame, but Nash made a good point in an interview I saw linked from here somewhere. Basically, the network decided wrestling wasn't a suitable product.

 

Nash pointed to a meeting he was in with then new management. They were quite happy to spend the same amount as WCW cost them in a year , to make a TV movie which showed 3 times a quarter and did less ratings on it's premier than WCW was doing weekly.

 

With that kind of attitude, WCW was damned, since the wrestlers were contracted to Turner and not WCW. This is why the company (WCW) didn't just change name and look for another TV deal.

[Guest Chriscare]

WCW really was before I became interested in wrestling, so my view may be slighly skewed or factually incorrect, so it really is based from what I have read and seen.

 

For me the demise of WCW was a product of their own success. WCW was the closet thing in the last decade to a challenge to the WWE since wrestling was more territorial and the WWE was the WWWF under Vince McMahon Snr

 

But like TNA have recently, WCW seemed in my opinion to look at what the WWE were doing and not at improving their own product. This came mainly in part due as I mentioned before to their own success.

 

They had pushed the WWE to the brink, with the WWE pulling out all the stops to keep them as the number one promotion, WCW really had to look to something else to become the number one promotion, but instead of improving the product, they seemed to become obsessed, with gaining one upmanship on the WWE, instead of improving the show, gaining more viewers and hurting the WWE by cable ratings, and not copying what the WWE was doing, and thus hurt them in the long run...

 

As I said this may have not been the case, but as an outsider looking in, this has always been my view

 

Any thoughts?

 

It wasn't so much that they were obsessed with one upman ship, or obsessed with copying what the WWE were doing, more that they were obsessed with recreating what they'd done previously and more importantly, never thought about the future. No one ever seemed to progres up the ranks, which is why i believe, since WWE's demies, WWE have been insisting all the time that they try and create new youngs stars and investing in young talent

[Guest MastersGonads]

It wasn't so much that they were obsessed with one upman ship, or obsessed with copying what the WWE were doing, more that they were obsessed with recreating what they'd done previously and more importantly, never thought about the future. No one ever seemed to progres up the ranks, which is why i believe, since WWE's demies, WWE have been insisting all the time that they try and create new youngs stars and investing in young talent

 

So without starting another WWE V TNA debate, is there any difference between the demise od WCW as you hinted too above, and the fact that TNA, has apparently dropped off dramatically recently?

 

From what i have read and seen, when TNA first started they were a legit threat to the WWE, but this has curtailed somewhat recently, with UFC overtaking TNA as the lead competitor for ratings to the WWE. I would guess that this is due in part to TNA looking to sign people like Angle, RVD (Supposedly) and the likes of Billy Gunn compared to promoting people like Samoa Joe? (You have to forgive me at this point, my knowledge on anything other than WWE is very sketchy, for forgive me if there is falsities)

 

And the fact that TNA really havent progressed and built on the initial work of being a recognised, televised company, towards making TNA a really succesful product

 

I know for a fact, that the WWE, dont see TNA as a threat, and this leads me to why, and if things are on the downfall for TNA will they learn from the lessons of WCW?

[Guest Slim Jim]

When TNA first started they could have gone tits up at any time. They then went on to putting on great shows when WWE were putting on crap shows. They are now at their most successful although the drop off you talk about is with the show quality.

[Guest MastersGonads]

When TNA first started they could have gone tits up at any time. They then went on to putting on great shows when WWE were putting on crap shows. They are now at their most successful although the drop off you talk about is with the show quality.

 

Having never watched TNA in my life, I cant compare the quality now and previously, but it really intrigues me that as, at one time the closest challengers to breaking the WWE dominance since WCW, why they havent go on from this?

 

You say show quality, is this merely down to poor booking on Russo's part, or have they gone the same way as Chriscare mentioned that WCW did, and are more obsessed with trying to recreate what they have done previously, or trying to gain one upmanship on the WWE, by bringing in people like Angle, compared to creating the next Rock or to lesser terms Cena

 

I suppose my main point, is....Why are companies like WCW and TNA able to get very close to breaking the WWE's dominance, but as yet havent gone further and become the dominant wrestling promotion in both North America or globally?

 

Or is it simply WWE have been around longer, so thus have the nous, in terms of experience, talent, and influence brought on by money

[Guest Slim Jim]

WCW held the lead for quite a long time, but it was a lot down to not wanting to move on when WWE made things different allowing them to take the lead and never look back. For whatever reason wrestling isn't popular enough at the moment for TNA to get huge. They really need to try and redefine wrestling to get people to watch for the first time or to start watching again. I think they are being too much like WWE, and that's why they, like WWE wont be able to improve popularity much more than their core fanbase.

[etz 78]

Having never watched TNA in my life, I cant compare the quality now and previously, but it really intrigues me that as, at one time the closest challengers to breaking the WWE dominance since WCW, why they havent go on from this?

 

You say show quality, is this merely down to poor booking on Russo's part, or have they gone the same way as Chriscare mentioned that WCW did, and are more obsessed with trying to recreate what they have done previously, or trying to gain one upmanship on the WWE, by bringing in people like Angle, compared to creating the next Rock or to lesser terms Cena

 

I suppose my main point, is....Why are companies like WCW and TNA able to get very close to breaking the WWE's dominance, but as yet havent gone further and become the dominant wrestling promotion in both North America or globally?

 

Or is it simply WWE have been around longer, so thus have the nous, in terms of experience, talent, and influence brought on by money

 

 

Meh, TNA are suffering from Russo's patented "CAR CRASH TV"tm . Seriously, that's what he calls it. They also started hiring ex-WWE workers, and this started the downturn, assisted by creative being idiots.

 

Simple math for bookers here.

 

Every match dodgy finish = pissed off fans

 

about 25% matches dodgy finish = hooked fans

[Guest MastersGonads]

For whatever reason wrestling isn't popular enough at the moment for TNA to get huge. They really need to try and redefine wrestling to get people to watch for the first time or to start watching again. I think they are being too much like WWE, and that's why they, like WWE wont be able to improve popularity much more than their core fanbase.

 

See this for me, the demise in popularity in pro wrestling signified best by the WWE but which also incorporates TNA goes hand in hand with the rise in popularity of MMA and UFC, as a legitimate sport, and not just illegal bar fights!!

 

I think people in the late 90's always new there was an element of fakeness with wrestling, but this was counteracted by the Entertainment side of the product, which MMA didnt have, it was deemed just to risky for television.

 

But now with a relaxation of television regulations post Mary Whitehouse, UFC and MMA have gone mainstream, and the fact is, why watch choreographged entertainment, when in UFC you get the same entertainment, but the fights are real...