here's a thought:
Instead of creating a new brand, why not give Ohio Valley their own show?
Get the names of developmental talents known with a degree of national exposure, and when they're ready move them to the major league.
Of course, it would probably need a new name (OVW sounds too local), but I think it could work, and it would mean that when someone like Spanky or Sean O'Haire appears on Smackdown, they're not a nobody.
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