Vince McMahon did what was best and worst for business when he bought World Championship Wrestling in an effort to control the industry. And by doing that, the wrestling, sports entertainment and business tycoon has given the fans some of the best and worst matches in the history of the industry. With no true competition in sight, McMahon is the major reason the WWE is in the financial and entertainment state it faces as of this moment – with no real sense of getting out of its own way.
In May of 2001, when World Wrestling Entertainment bought the sinking ship down in Atlanta, where it was bleeding money and losing talent. Back then, it was thought to be a major coup for the WWE, as a brand and with marketing as well as forming a monopoly on the business.
“This acquisition is the perfect creative and business catalyst for our company,” said Linda McMahon, Chief Executive Officer of WWE Entertainment on WWE.com.
“This is a dream combination for fans of sports entertainment. The incendiary mix of WWE and WCW personalities potentially creates intriguing storylines that will attract a larger fan base to the benefit of our advertisers and business partners, and propel sports entertainment to new heights.”
“The acquisition of the WCW brand is a strategic move for us,” said Stuart Snyder, President and Chief Operating Officer for WWE Entertainment.
“We are assuming a brand with global distribution and recognition. We are adding thousands of hours to our tape library that can be repurposed for home videos, television, Internet streaming, and broadband applications. The WCW opens new opportunities for growth in our Pay-Per-View, live events, and consumer products divisions, as well as the opportunity to develop new television programming using new stars. We also will create additional advertising and sponsorship opportunities. In short, it is a perfect fit.”
When it was announced that Spike TV had cancelled the contract with the Tennessee-based promotion, was thought to be the end of the small niche-wrestling outfit started by Jeff Jarrett years ago. And out of the blue, it came to me that this might be the same situation as the one with WCW – but even better, where McMahon could not only help the fledgling operation, and help himself in the process.
Yes, history can repeat itself, and this time in a good way.
TNA has a deal with Spike TV that runs through October.But after the contract expires, who knows what will happen. According to the story on inquisitor.com, “If TNA is not picked up, it will struggle to survive. What the company makes on television alone helps them stay afloat. While Panda Energy helps pay many of the expenses for TNA, they cannot sustain a roster without a Spike deal.”
It could also lend some credence to the idea that “Wrestling Matters,” a brand that TNA has used in the past as a marketing tool to show wrestling for what it was before the McMahon days and how we as youngsters remembered it from before.
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