ABOUT WADEEMAIL WADEFACEBOOKTWITTERPODCASTFREE IPHONE APPRSSJUMP TO VIP BLOGVIP LOG-IN VIP SIGN-UPGO TO PWTORCH.COM



PWTORCH.COM
JUMP BACK TO PWTORCH.COM

Listen to the PWTorch Livecast Mon-Fri Listen live or subscribe via iTunes

 


BISCHOFF ALMOST LED ACQUISITION OF WCW TEN YEARS AGO - COVER STORY FLASHBACK

Nov 28, 2010 - 7:26:29 PM


Bookmark us!

BischoffEricGG_220.jpg
Here's a flashback article from ten years ago this week in the PWTorch Newsletter. It's my cover story chronicling Eric Bischoff's attempt to lead an investor group to purchase WCW from AOL Time-Warner.

Bischoff begins make-or-break talks with WCW
Siegel wants to unload WCW badly, and new Bischoff backers Tri-Star can help make it happen


Eric Bischoff is in Los Angeles this week negotiating with Brad Siegel to purchase WCW from Time-Warner. Before Vince McMahon and the WWF began serious negotiations to purchase WCW, Bischoff had made offers to purchase WCW from Siegel, but none were adequate. When the WWF negotiations got serious, friends of Bischoff say he was extremely frustrated that something he wanted so badly might slip through his fingers.

When the WWF negotiations fell through due to intervention from WWF-partner Viacom, Bischoff was back in the game. Siegel put everything on hold pending Bischoff's ability to put an acceptable package together to purchase WCW. Bischoff spent the past month since the WWF negotiations fell apart looking for a new financial backer to complete his offer. He apparently found it last week, and it was right under his nose all along.

The TORCH has learned that Columbia Tri-Star, the movie and entertainment production company that produces the BattleDome syndicated series that Bischoff is involved with, has stepped up to help purchase WCW.

Tri-Star's involvement could be the key to getting a deal done. But as with the WCW-WWF negotiations, even when a deal appears to be inevitable, there are many details that in the end can prevent a sale from taking place.

Multiple sources, including Vince McMahon, confirm that the WWF is not in the picture to purchase WCW.

There was a problem between WCW and BattleDome this week that led to the BattleDome angle being dropped - for now - but it's not expected to affect a sale from taking place. WCW and BattleDome had supposedly agreed to pay to fly in their own talent when going on the other programs. This week BattleDome wanted WCW to pay for their talent to come in. WCW refused, so the angle at this point has ended with the BattleDomers beating up Rick Steiner on last week's show, without WCW getting revenge.

Meanwhile, WCW continues to cut back as many expenses as possible. Front office talent that departs WCW is not being replaced. On-air talent continues to get cut back, including Bobby Heenan and just this week Torrie Wilson (who was making $250,000).

The cutbacks help prepare WCW to make money (or lose less) should it not be sold, or make it more attractive to a buyer during negotiations.

At this point there is no other party that has entered even preliminary negotiations to purchase WCW. If the Bischoff negotiations don't result in a sale, Siegel will embark on a new buyer-finding mission from scratch.

USA Network may have new incentive to re-enter the picture, also. Besides dropping out of the top five rated cable networks after losing WWF programming, USA just lost a bidding war with TNN for rights to an attractive Star Trek package. Variety reports that TNN has anteed up a record fee of at least $364 million to acquire syndicated rights to three Star Trek series and five Star Trek movies. Barry Diller's USA-owned Sci-Fi Channel was also bidding for the programming. The sting of Diller first losing the WWF programming and now getting outbid on the Star Trek package may put him in a fighting mood, more apt to get back into the pro wrestling game.

"Our commitment to rebrand TNN as a top-rated network includes significant investment in programming, including acquisition of hotly bidded properties like 'Star Trek,'" said TNN general manager Diane Robina. "It will be a marquee property that will bring viewers to TNN's original programming slated to premiere in 2001."

Despite their public stance that losing the WWF programming hasn't hurt their bottom line, only their bragging rights as America's top rated network, Barry Diller is said to be seething that his top network has been exposed as being "just another network" in the ratings war without the WWF as its anchor. Be it WCW, ECW, or a start-up promotion, no possibility should be ruled out at this point.

If Bischoff's group purchases WCW, the plan is for WCW to be essentially shut down and gutted with the plan being to present a "grand reopening" launch early next year. In the mean time, WCW would operate strictly out of Las Vegas, Nev. running only TV events to fill Nitro's and Thunder's timeslots on TNT and TBS. WCW would eventually work its way back into promoting house shows.

Bischoff, who thrived on competing with and initially beating Vince McMahon in the early Monday Night War battles, would be out for redemption should he regain control of WCW. Whether he has a newfound financial discipline and an awareness of how to avoid repeating past mistakes are keys to whether he'd succeed the second time around. All indications are Vince Russo would not be part of Bischoff's plans.

Russo remains sidelined with complications from the concussions he suffered while pretending to be a qualified wrestler on TV. A WCW-assigned doctor has confirmed he does have legitimate problems resulting from the blows to the head and has prohibited Russo from returning to work or travelling until he is cleared to wrestle. Russo's next evaluation is scheduled for early January.

Russo has received criticism in many circles within WCW for being crass when it came to wrestlers wanting time off for injuries, including concussions. Wrestlers who suffered concussions on the job who were wise enough to take the appropriate amount of time off to heal found their salaries cut in half, per the wording of their contracts. Wrestlers who once strongly sided with Russo are now questioning whether he will face the same repercussions due to his time off. In fact, the TORCH has learned that Russo does have a similar clause in his contract.

If Russo is unable to return to work by mid-January, WCW has the right to terminate his contract, which at that point would have nearly nine months left on it. Some wrestlers believe Russo is sitting on the sidelines just to avoid spinning his wheels during this lame duck period while WCW figures out its ownership situation, and if Russo returns just in time to avoid contract termination, that speculation will be even stronger. However, medical scans have confirmed he is injured and shouldn't be active.

Russo and Bischoff did not get along, and friends of Bischoff believe that he has concluded Russo does not offer the creative direction he is looking for. Bischoff is open about his lack of creative acumen when it comes to pro wrestling booking. If Bischoff were to purchase WCW, it's not known who his head booker would be.

[Next week I plan to publish the follow-up cover story on this developing situation, with the cover story headline being: "Cover Story: Deal appears to be all but final: Bischoff is back." Plus I wrote an "End Notes" editorial with suggestion for a Bischoff-run WCW under new ownership. PWTorch VIP members can read the entire 12 page newsletter here: CLICK HERE... All 52+ back issues from 2000 are available to VIP members at this page: CLICK HERE.]

[Art Credit: Grant Gould (c) PWTorch]


Please Recommend or Like This Article on Twitter or Facebook


CLICK HERE to return to Wade Keller Blog home page

CLICK HERE to jump to PWTorch.com's main page

MORE RECENT WK BLOG ARTICLES...
KELLER BLOG: Paul Heyman alliance with C.M. Punk - where does it go from here?
KELLER'S WWE SUMMERSLAM PPV BLOG: Results and analysis throughout the show including Lesnar vs. Triple H, Cena vs. Punk vs. Show
KELLER: C.M. Punk is not best utilized as a tweener, despite a recent reader poll; he should be all out heel

Comment on this Article Below


THE TORCH AND USA TODAY PRESENT THIS EXCLUSIVE UFC VIDEO FEATURE


GO VIP - GET ENHANCED BLOG + MORE!

PWTorch VIP Members get an ad-free enhanced version of this blog including a reader comment area with Wade Keller's conversation with readers after each blog. Sign up for a VIP membership and get 60+ VIP Audio Shows, New PWTorch Weekly Newsletter Digital Edition, 100s of PWTorch Newsletter Back Issues, Ad-Free Access to Entire PWTorch Site, PWTorch VIP Forum, Many Special Archive Features, and More! SIGN UP HERE

LATEST PWTORCH ARTICLES
NEWS REPORTS
TRY OUR NEW WEBSITE - PWPodcasts.com - Written Recaps & Reviews of Top Podcasts by Austin, Ross, Jericho, Taz, more
WWE NEWS: New match for Hell in a Cell; updated PPV line-up
WWE NEWS: Superstars SPOILERS - Results from Chicago Raw
WWNLIVE NEWS: NXT star Sami Zayn announced for EVOLVE Tour
SHOW RESULTS - 10/12 NJPW King of Pro Wrestling in Tokyo: Okada vs. Styles for IWGP World Title, more big matches
NEWS: Daughter of Bill DeMott dies in weekend car crash
WWE NETWORK: Monday, Oct. 12 Schedule - Raw pre-show, Sting DVD preview
WWE NEWS: Lana & Rusev reportedly engaged - follow the interesting 2015 timeline
WWE WEEKEND TOUR: Sunday wrap-up - Reigns & Orton teaming, plus champions in action (Reports Wanted)
WWE NEWS: WWE cameras film new Network series at independent show
SHOW RESULTS - 10/9 AAW in Berwyn, Ill.: Gargano challenges for AAW Hvt. Title, more title matches, big women's tag match, more
HAAS NEWS: Charlie Haas getting back in the ring - big reunion match at OVW, headliner for CWE year-end tour
PPV REPORTS
CALDWELL'S TNA BFG PPV REPORT 10/4: Complete "virtual-time" coverage of Bound for Glory PPV from Charlotte - all titles on the line
KELLER’S WWE MSG SPECIAL REPORT 10/3: Lesnar vs. Big Show, Cena vs. Seth in a cage, Jericho vs. Owens in an IC Title match, Dudleys vs. New Day for tag titles
McNEILL's Late Night Deadblog - WWE Night of Champions: Bucklebombs, Light-up Jackets, Poachers, IcoPro, Eddie, more!
KELLER’S WWE NIGHT OF CHAMPIONS PPV REPORT 9/20: Ongoing “virtual time” coverage of event including Sting vs. Seth, Cena vs. Seth, Ryback vs. Owens, mystery partner with Reigns & Ambrose, Divas Title, Tag Title, more
CALDWELL'S WWE NOC PPV REPORT 9/20: Live Night of Champions Coverage from Houston - Seth Rollins's double duty
RADICAN'S ROH "All-Star Extravaganza VII" PPV BLOG 9/18: Booking issues dampen excellent in-ring action
CALDWELL'S ROH ASE PPV REPORT 9/18: Complete "virtual-time" coverage of All-Star Extravaganza - Jay Lethal defends two titles, ANX, more
RADICAN'S "EVOLVE 47" iPPV REPORT 8/15 - Tremendous all-around show, Bailey vs. Chris Hero, Thatcher-Sabre for EVOLVE Title, more
MCNEILL'S Late Night Blog - WWE Summerslam 2015: No shave 'til Brooklyn, lots of blood, Cesaro's warm-up match for Z.Z., more!
McNEILL’s Late Night Blog - "NXT Takeover: Brooklyn" - a/k/a Don't Tell McMahon about this show until after Summerslam
CALDWELL'S SUMMERSLAM REPORT 8/23: Complete "virtual-time" coverage of Lesnar vs. Taker, Title vs. Title, more matches
CALDWELL'S WWE SUMMERSLAM REPORT 8/23 (Pre-Show): Complete "virtual-time" coverage of hype interviews, no match
TV REPORTS
CALDWELL'S WWE RAW RESULTS 10/12: Complete "virtual-time" coverage of live Chicago Raw - Cena's U.S. Title Open Challenge, WWE Champ loses in main event, more
PARKS'S WWE SMACKDOWN REPORT 10/8: Ongoing "virtual time" coverage of Thursday show, including Roman Reigns & Randy Orton vs. Bray Wyatt & Braun Strowman
METZGER'S ROH TV REPORT 10/4 & 10/7: IWGP World champ Okada vs. Roderick Strong main event, plus Briscoes vs. Time Splitters, more from "Field of Honor," Overall Reax
MCMAHON'S TNA IMPACT REPORT 10/7: TNA Title Series kicks off, Bound for Glory fall-out, more; Overall Reax
JAMES'S WWE NXT TAKEOVER: RESPECT REPORT 10/7: Bayley vs. Sasha Banks Iron Man match for NXT Title, Dusty Rhodes Tag Classic, big stars; Overall Reax
CALDWELL'S WWE RAW RESULTS 10/5: Complete "virtual-time" coverage of live Raw - Lesnar returns, Cena's Open Challenge, more
WWC TV REPORTS - 10/3 & 10/4 Super Estrellas de La Lucha Libre: Matches from "Anniversario" weekend featuring Carlito, Mr. 450, Apollo, more stars from Puerto Rico
PARKS'S WWE SMACKDOWN REPORT 10/1: Ongoing "virtual time" coverage of Thursday show, including Kevin Owens vs. Ryback in an Intercontinental Title Match
MCMAHON'S TNA IMPACT REPORT 9/30: Final hype for Bound for Glory, Ciampa also wrestles on Impact, Dollhouse vs. BP, more; Overall Reax
JAMES'S WWE NXT REPORT 9/30 - Week 182: Balor & Joe in Dusty tournament, Ciampa and Gargano in singles matches, final "Takeover" card, more; Overall Reax
METZGER'S ROH TV REPORT 9/27 & 9/30: NJPW vs. ROH Series continues - Shinsuke Nakamura vs. Adam Cole, Sydal vs. KUSHIDA, more
SHOW RESULTS - 9/26 WWC Anniversario & 9/27 "Super Estrellas De Lucha Libre" TV Report: Carlito, Tommy Dreamer, more
OPINION & ANALYSIS
RAW POLLS 10/12: Vote on Monday's show & Best Match
25 YEARS OF BRUCE MITCHELL - DAY 11 (2001): Titled “Freebird Way” - Mitchell reflects on the life and death of Terry "Bam Bam" Gordy and his Freebird partners
25 YEARS OF BRUCE MITCHELL - DAY 10 (2000): Titled “Death of Hardcore” as Bruce discusses the apparent end of the Hardcore Wrestling era and also suggests what ECW must do to regain relevance
25 YEARS OF BRUCE MITCHELL - DAY 9 (1999): Titled “Children” as Bruce discusses Vince McMahon's marketing approach toward children and how he deals with controversy like a child would (with a great opening line)
RADICAN'S CHIKARA "King of Trios 2015 Night 2" Review 9/5 - Quarterfinal round matches, Rey de Voladores Eliminators, fantastic main event
25 YEARS OF BRUCE MITCHELL - DAY 8 (1998): “Stolen Moments” - Bruce lays out case for Flair as Greatest of All-Time as he dealt with locker room politics in WCW Nitro era
25 YEARS OF BRUCE MITCHELL - DAY 7 (1996): Titled "Of bad news and acts of God" - Bruce looks at the jumps back and forth between WCW and the WWF and how WWF was showing signs of making a comeback
MCNEILL LIVECAST POLL: What do you think of TNA's Title tournament?
25 YEARS OF BRUCE MITCHELL - DAY 6 (1995): Titled “ECW - Everybody Sucks But Us” - Bruce raves about his first in-person experience at ECW Arena and what it is that made the whole event stand out
CENA POLL: Who should win the U.S. Title from John Cena?
RAW POLLS 10/5: Vote on Raw 0-10 & select Best Match
25 YEARS OF BRUCE MITCHELL - DAY 5 (1994): “The All-Fun League” - Bruce hatchets McMahon’s characterization of the WWF as all about fun and putting smiles on faces
THE SPECIALISTS
COLLECTIBLES COLUMN: Wrestling Board Games Throughout the Years - Gagne, Von Erichs, Hogan & More
10/5 WWE Raw Hits & Misses: Natalya vs. Paige, Owens vs. Cara, Stephanie McMahon, Sasha Banks, Xavier Woods
COLLECTIBLES COLUMN: The History of Foam Hands in Pro Wrestling
9/28 WWE Raw Hits & Misses: Kane's Split Personality, Divas Revolution, Heyman & Big Show, Reigns vs. Wyatt
COLLECTIBLES COLUMN: Sharing a Million Dollar Memory with Ted DiBiase
VALENTINO'S MAGIC, MEMORIES & MANIA: An expository look at Hulk Hogan's Fall from Grace - "Real American" or "Real Racist?"
COLLECTIBLES COLUMN: 20 Figures for 20 Years - Part 2 of WCW Nitro's Biggest Stars in Action Figure Form (Sting, Hogan, more!)
DONOFRIO'S FALLS COUNT ANYWHERE: Detailed Report on Dean Ambrose & Paige at Wizard World Pittsburgh - Q&A session yields interesting comments on WWE topics
COLLECTIBLES COLUMN: 20 Figures for 20 Years - Part 1 of WCW Nitro's Biggest Stars in Action Figure Form
9/7 WWE Raw Hits & Misses: Paige vs. Banks, Rollins vs. Ryback, Orton vs. Sheamus, Cena & PTPs vs. Rollins & New Day
8/24 WWE Raw Hits & Misses: Opening Segment, New Day, Dudleys return, Stewart, Sting
COLLECTIBLES COLUMN: Evaluating Top 10 WWE Stars's Trading Cards
PWTORCH EXCLUSIVES
NEWSLETTER FLASHBACK: Who really started the U.S. Women's Wrestling Revolution?, CALDWELL examines SHIMMER'S ambitious plans 10 years ago
RADICAN'S CHIKARA "King of Trios 2015 Night 2" Review 9/5 - Quarterfinal round matches, Rey de Voladores Eliminators, fantastic main event
WWE FLASHBACK: Kane character debuts 18 yrs. ago today in first-ever Hell in a Cell match - Undertaker vs. Shawn Michaels
HIAC FLASHBACK: Kane beats Undertaker in HIAC match 5 yrs. ago today, plus Randy Orton vs. Sheamus for WWE Title
RADICAN'S Beyond Wrestling "Greatest Rivals Round Robin" review 9/26 - incredible show of the year contender, Busick-Edwards top-flight MOTYC, more!
ROH FLASHBACK: The aftermath of Joe vs. Kobashi 10 years ago today
RAW FLASHBACK: RVD vs. Christian IC Title ladder match 12 years ago, plus HBK & Goldberg team up, Ross vs. Coach, more
RADICAN'S "The Pull List" (Vol. 5) "Young Bucks Too Sweet Journey" doc review, The Flash season 1 Blu-Ray, Top Ten MOTYC for 2015
WWF PPV FLASHBACK: Taker & Kane both win WWF Title at Breakdown 1998
FLASHBACK: Bryan vs. Ambrose 5 yrs. ago at DGUSA show, plus Luke Harper, more
MNW FLASHBACK: Raw vs. Nitro head-to-head 20 years ago - Taker vs. Bulldog & new WWF tag champs, Hogan & Savage & Luger star on Nitro
WWF MSG FLASHBACK: Huge six-man tag main event 15 yrs. ago today
REFERENCE
TITLES & CHAMPS: Ongoing list of 2015 Titleholders
WWE NEWS: Smackdown TV ratings are in for Thursday's show
TV RATINGS: TNA Impact & ROH TV viewership - Week 19 on Dest. America - Impact surges post-BFG, ROH draws big audience
TV WRESTLING VIEWERSHIP - Week of Sept. 28: Full Break Down of last week's Pro Wrestling TV with DVR viewing
WWE NEWS: Raw TV ratings are in - Monday's show remains stuck in 2.3-range despite return of Brock Lesnar
WWE NEWS: Smackdown TV ratings are in for Thursday's show
TV RATINGS: Viewership for TNA Impact & ROH TV - Week 18 on Dest. America
WWE NEWS: Total Divas viewership - season finale up nearly 50 percent
WWE NEWS: Raw TV ratings are in - Monday's show falls further back to mid-1990s levels
TV WRESTLING VIEWERSHIP - Week of Sept. 21: Full Break Down of last week's Pro Wrestling TV with DVR viewing
WWE NEWS: Smackdown TV ratings are in - Thursday's show improves
TV RATINGS: Viewership for TNA Impact & ROH TV - Week 17 on Dest. America - both shows rebound, ROH has its best showing in two months
PWTorch Free Podcast
LIVECAST AUDIO: Bruce Mitchell & Travis Bryant host the Friday (10/9) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Bob Backlund Live Interview w/Keller & Mitchell on the Thursday (10/8) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Lance Hoyt live interview w/Pat McNeill on the Wednesday (10/7) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Wade Keller & Jason Powell of Prowrestling.net on the Tuesday (10/6) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Raw Post-Game Show w/Caldwell & McNeill on the Monday (10/5) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Bruce Mitchell & Travis Bryant of the East Coast Cast on the Friday (10/2) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: "X-Pac" Sean Waltman live interview w/Wade Keller on the Thursday (10/1) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Jim Valley and radio host Steve Migs host the Wednesday (9/30) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Wade Keller & Jason Powell of Prowrestling.net on the Tuesday (9/29) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Raw post-game show with James Caldwell & Greg Parks on the Monday (9/28) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Bruce Mitchell & Travis Bryant of the East Coast Cast host the Friday (9/25) PWTorch Livecast - now available on-demand
LIVECAST AUDIO: Wade Keller talks live w/John Arezzi on the Thursday (9/24) PWTorch Livecast - now available on-demand
VIP Exclusive Features
VIP - 10/12 Radican's Wrestling Community Audio (w/Metzger & Leahy) - CHIKARA King of Trios 2015 in-depth, Rey de Voladores begins, heavy angle in main event, more! (50 min.)
VIP - 10/11 - Wade Keller Hotline - The News: What is TNA's relevance after Matt Hardy title forfeit and more dates cancelled, WWE results, Scott Hall and Eric Bischoff DVDs, Matt Riddle-WWE, Haas & Benjamin, HIAC PPV, more (24 min.)
VIP - 10/11 McNeill & Valley's "Wayback Playback" Audio Show (ep. #56): Into ECW Time Machine for November to Remember 1995 - Funk & Dreamer, Sandman, more! (57 min.)
VIP - 10/10 Bruce Mitchell Audio Show w/Britt Whitmire (pt. 2): Reaction to Matt Hardy relinquishing TNA Title, why Young-Angle sucked, when to cheer for the heels, Backlund, Raw ratings and WWE's TV future (71 min.)
VIP - 10/10 Bruce Mitchell Audio Show w/Britt Whitmire (pt. 1): The simplicity of what made NXT Takeover work so well, the upside of Bailey on the main roster, what's most misreported about Montreal Screwjob, TNA Bound for Glory (71 min.)
VIP - 10/10 - Wade Keller Hotline - Ask the Editor: Could Owens get a mega-push to ready him for Lesnar at WM32? How could Cena be turned heel? Why is Stephanie selling off WWE stock? (25 min.)
VIP - 10/10 Moonlighting with Greg Parks: With PWTorch columnist Todd Martin, discussing and analyzing the latest episodes of WWE Smackdown, NXT Takeover: Respect, and TNA Impact Wrestling (60 min.)
VIP - 10/09 - Wade Keller Hotline - The News: James Storm's NXT debut and potential upside in WWE, ROH and Impact viewership up, Jericho and Henry on WM32 roles, Batista news, WWE stock surge, more (24 min.)
VIP - 10/09 PWTorch Livecast: Bruce Mitchell & Travis Bryant talk w/live callers on this week's hot topics, plus is there a quick fix for WWE?, Storm's future, more! (66 min.)
VIP - 10/09 Audio Flashback - WWE No Mercy PPV Roundtable with Keller, McNeill, Caldwell: Did Batista earn his PPV main event status against Eddie Guerrero, plus Randy & Bob Orton vs. Undertaker, JBL vs. Rey (34 min.)
VIP - 10/08 - Wade Keller Hotline - Ask the Editor: More thoughts on Bob Backlund autobiography, might Ziggler benefit from a heel turn, should winner paydays be stressed more in WWE’s narrative (25 min.)
VIP - PWTorch Newsletter #1426 (PDF & TEXT): TNA BFG results & roundtable reviews, Keller Raw & MSG Reports, Parks on diminished MITB concept, 25 Yrs. of Mitchell (12 pgs)
© 1999-2011 TDH Communications Inc. • All rights reserved. -- PRIVACY POLICY