On March 23, 2001, World Wrestling Federation (WWF) announces its purchase of longtime rival World Championship Wrestling (WCW), securing rights to its brand, tape library and other various intellectual rights.
The Monday Night Wars were officially over.
They had been over for quite some time, as WCW had reportedly lost upward of $80 million dollars in the year leading up to its fire sale. Fusient Media Ventures was also in the running to but the dying promotion, but the deal fell apart when AOL's Turner Broadcasting decided to drop WCW from its TBS and TNT channels.
From the official release:
The two companies have been competing against each other for 18 years, and executives vowed that the WCW will not fade away.
"WWF has been a rival organization to the WCW for quite some time," said WWF CEO Linda McMahon on a conference call open to journalists. "With the new infusion of stars and the cross-branded story lines, this does nothing but raise the specter potential for us. We're very pleased to have come to agreement to purchase that brand."
WWF wisely decided to let some of the big-money contracts run out for the old regime and went forward with its "Invasion" storyline. It was a big flop, but it didn't matter, because there was no one left to compete with.
Who's to blame for the self-destruction of the WCW?
And now, from the desk of the CSS Senior Editor, for your viewing pleasure we bring to you:
Additional posts dusted off from the --
23 - MARCH
23 MAR 2012
- Evan Bourne injures foot in accident, WWE return delayed indefinitely by The General Mar 23, 2012 10:30 PM CDT - 9 comments
- Move over Daniel Bryan, CM Punk is vegan now too by Sergio Hernandez Mar 23, 2012 6:40 PM CDT - 40 comments
- Edge on The Rock vs John Cena build to WrestleMania 28 match: It's astounding by The General Mar 23, 2012 4:59 PM CDT - 4 comments
- Press Release: Dragon Gate USA offers live internet pay-per-view for a couple of bucks by Sergio Hernandez Mar 23, 2012 2:24 PM CDT - 3 comments
- Video: WWE Superstars for March 22, 2012, featuring Drew McIntyre, Alex Riley and Divas Champion Beth Phoenix by Sergio Hernandez Mar 23, 2012 7:01 AM CDT - 3 comments
- FCW schedules TV tapings through May, WWE starts Twitter list for developmental promotion's talent by The General Mar 23, 2012 12:39 AM CDT
23 MAR 2011
- Call for WWE wrestlers to stand up for their withheld employee benefits by Keith Harris Mar 23, 2011 9:40 PM CDT - 6 comments
23 MAR 2010
- WWE NXT results, March 23, 2010 by Cox813 Mar 23, 2010 10:38 PM CDT - 1 comment
- 2010 is the year Matt Hardy finally needs to learn to shut the f*** up by Keith Harris Mar 23, 2010 4:16 PM CDT - 2 comments
- MMA fighters and their WWE wrestler counterparts: Brock Lesnar's might not be who you're thinking of by bix Mar 23, 2010 2:03 PM CDT