Quote:
Originally Posted by Noid
WCW made it a common sense decision to cut them off. They were losing so much fucking Turner money, and there was no end in sight.
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If you take Eric Bischoff at his word, which I do cause his story hasn't changed in almost 20 years, and he did try to buy it for further proof, but he said WCW wasn't really losing that much money.
When the merger happened they classified WCW as "other" with a bunch of other things at Turner that were losing money also, with the intent of unless I adding all of it to make the merger look good.
WCW didn't go out of business like ECW did where they had to declare bankruptcy, AOL/Time Warner just didn't want wrestling in their portfolio so they pulled the TV deal and took nothing for it.
They could have sold WCW for $45 Million with its current TV deals, and instead they cancelled the TV deals and sold it to Vince instead for $40 Million less.
They were willing to lose all the ad revenue that Nitro and Thunder brought, and an additional $40 Million instead of airing wrestling. Plus they still had to keep paying the full contract of every single wrestler who didn't take a buyout so they could go work for Vince.
Vince only took on like 6 contracts when he bought WCW, Booker T, Chavo, 2 other really low paying guys, I think Hurricane might have been one, and 2 of them were Torrie and Stacy who weren't making crap either. Everybody else in the Invasion got a lump sum buyout from AOL/Time Warner, so that is also more money they gave away just to get rid of wrestling.
Hogan, Hall, Nash, Goldberg, Sting, Flair, Mysterio, Steiner, Savage, Mr Perfect, those guys all sat at home getting paid their full amount until their contracts expired.