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Originally Posted by Noid
Bingo. The WWE Title (and the World Heavyweight Title back when it was on SmackDown) is the equivalent of what the IC Title used to be. When your World Champion is working one venue, the IC Champion could work another. The WWE Champion just headlines the B-shows. That might switch when WWE goes to FOX. It doesn't really make sense to have the title named for NBC Universal on SmackDown, but they don't really hammer that point in on TV (to my knowledge), so it's possible they'll switch the belt to SmackDown though. Remember when everyone kept the blinged out belt even when Cena was nowhere near it? Triple H even took it to SmackDown in 2008 even though Cena was on Raw.
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WWE Championship is already on Smackdown so I don't see a switch coming. Raw is staying on USA so they can keep the Universal Championship with NBC Universal. I don't think Fox or many other people for that mattet would think the title was named for NBC Universal though.