Vince McMahon Owned WCW Before He Owned WCW
In 2001, Vince McMahon shocked the wrestling world when he purchased his competition, WCW. WCW had been floundering for a while, with the AOL/Time Warner merger resulting in the company wanting to ditch the product. Several buyers attempted to pick up the company, but finally it was Vince McMahon who purchased select assets from WCW, including certain contracts, trademarks/copyrights, and the entire video library. However, this isn’t the first time Vince McMahon owned World Championship Wrestling. In 1984, Vince McMahon was looking to extend his company’s cable television reach by having his programming on not only the USA network, but the more popular TBS as well. Ted Turner was already airing “World Championship Wrestling” from George Championship Wrestling and refused McMahon a timeslot. To gain the TBS timeslot, McMahon arranged to purchase controlling stock in Georgia Championship Wrestling. McMahon terminated most of the staff of GCW and filled the spots with his crew, having their first show air on July 7, 1984, known as “Black Saturday”. In response to the shift in wrestling tone, from GCW’s athletic wrestling to WWF’s cartoonish gimmick wrestling, and the loss of beloved talent like announcer Gordon Solie, TBS received thousands of complaint letters and the ratings for the show tanked. Turner, unhappy with the turn of events, gave air time to other promotions which easily beat the WWF’s ratings. Losing money, McMahon turned to National Wrestling Alliance President Jim Crockett, Jr. to arrange a sale. Crockett was the owner of Jim Crockett Promotions and was attempting to unify other territories who were affiliated with the NWA to battle the WWF’s expansion. Crockett purchased “World Championship Wrestling” from McMahon for $1,000,000 and ran his promotion’s matches on the show. Ted Turner then purchased Jim Crocket Promotions in 1988 and rechristened it World Championship Wrestling, which McMahon bought 13 years later.
See "Black Saturday" Videos HERE!