Shane McMahon talks WWE purchasing WCW.
The wrestling world was shocked in March 2001 when it was announced Vince McMahon and WWE had purchased WCW. The two companies were bitter rivals throughout the 90s, creating the Monday Night Wars and arguably the hottest period in wrestling history. When WWE purchased WCW, many fans believed wrestling would become even bigger as all the top talent would be under one promotion.
Speaking on Table For 3, Shane McMahon discussed how the deal came together and how WWE was able to get the company for $4 million (according to an SEC filing), just three years after WCW generated $55 million in profits.
"When we got to look at all of the deal, and the contracts, and creative control, and everything else. We were like, 'You know, we're out.' That was why everything domino'd. When we were in, it was like, 'WWE is interested,' so a lot of other players were coming in because we were the bait. When we said, 'No thank you,' because of the fundamental issues we were against, that's when everything domino'd. And then it came back to us. It went down the line of all the suitors they had. It was a 'No, no, no.' Then it came back, and now it's pennies on the dollar as compared to what it was gonna be. It also came back to, when we started looking at is, what are we buying? Are we gonna assume this contract with this specific person with creative control and other things? That's a non-starter. How would that upset the locker room? If you have a healthy locker room, you can do anything," said Shane.
The creative control contracts led to WWE bringing in perceived secondary stars like Diamond Dallas Page and Booker T instead of securing the likes of Goldberg, Hulk Hogan, Sting, and other top names.
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