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Arquette being champ was a big blunder to the fans but it wasnt for WcW....
In an interview with Russo he said that because of them putting the belt on him they were able to get great coverage from many different medias and they were able to get on air promos by Arquette and a bunch of his big time celebrity friends...(I believe they were Brad Pitt, Jennifer Aniston and Courtney Cox) for free. Russo said it was worth it and that he would do it all again today.
But us fans still consider it a big ass blunder
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