WCW Hopes Third Time is the charm for Eric Bischoff

Last week, World Championship Wrestling was sold to Fusient Media Ventures, an integrated media company that invests in high potential, branded media properties. The Turner Broadcasting System will retain a minority interest in the company. The complicated transaction is expected to be finalized within the next 30 to 60 days.

"We're going to reestablish the WCW as the champion of professional wrestling entertainment," said Brian Bedol, chief executive officer of WCW Incorporated. According to a press release, prior to Fusient, Bedol was the creator, co-founder (with his partner, Stephen D. Greenberg), and Chief Executive Officer of Classic Sports Network, now known as ESPN Classic.

Sixteen months after being removed as President of WCW, Eric Bischoff, 45, who was originally hired by WCW in 1993, returns to his former position with the company. In March of last year, Bischoff returned to WCW in a creative capacity along side Vince Russo. Within months, Bischoff left television dissatisfied with the direction of the product. He remained on staff as a company consultant.

"Wrestling fans can rest assured that we will give the WCW the adrenaline shot it needs to once again become the most exciting brand of wrestling in the world," proclaimed Bischoff through a press release.

Bischoff appeared on “WCW Live” hours after the announcement of the sale was made. Despite revealing very little about what is planned for the company, Bischoff did address some interesting questions from listeners. He denied internet reports that Hulk Hogan would be named head booker. Bischoff, however, stated that Hogan still has a future in the wrestling business, and hoped he would be apart of WCW once again.

On the subject of wrestling veterans “Rowdy” Roddy Piper and “Macho Man” Randy Savage, Bischoff stated that he had no plans to bring either back. Regarding the often-suspended Scott Hall, Bischoff said there is always a chance he’d return.

Bischoff would not address the Hogan/Russo Bash at the Beach incident from last year. He would only say that litigation is still pending. Bischoff did not comment on Russo’s fate with the company, leading to more speculation that he will not be apart of the new creative team once one is assembled.

Bischoff pledged a commitment to bringing back the at one time highly successful cruiserweight division. The cruiserweight division had been depleted by the company’s decision to trim the payroll. He is tinkering with the idea of shutting down WCW temporarily to redirect the company. Bischoff is also considering running regular television tapings in Las Vegas and/or Orlando.

The World Wrestling Federation had entered into negotiations to purchase the rival WCW back in the fall. Vince McMahon was serious about buying the company, but the WWF’s television partner Viacom nixed the idea.

Will Fusient Media Ventures and Eric Bischoff be successful in turning around a company that lost a reported $80 million in 2000? I’m hopeful, yet extremely skeptical.

Tidbits: The motion picture “Mummy 2,” featuring WWF superstar The Rock, is set to be released this spring … Rob Van Dam is booked to wrestle for UPW in Santa Ana, California on 1/31 … WCW and television interviewer Pamela Paulshock have parted ways … The release of the WWF’s latest musical offering, “WWF Volume 5” has been postponed until February 20th.

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