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FourFifty, WCW probably made triple the amount of money in 1998, with Hogan as the top draw, than WWF made in 1996 and 1997 combined. WCW was making billions and billions of dollars through huge merchandising and tickets/PPV sales.
Shawn Michaels left the WWF because of his back injury just as they began to compete with WCW in the Monday night ratings wars. And even when WCW and WWF were pulling neck and neck, Hogan was main eventing in a top wrestling company that was scoring higher ratings and attendance than ever before.
Had Shawn Michaels stayed around during the ratings wars, it's arguable that he could be considered as high a draw as Hogan. But because he wasn't there for the Attitude era, and only returned in 2001 after WCW was dead, he's not.
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