Bagwell talks about the day he learned WCW was being sold

“We all pulled up to Nitro, and we all saw the WWF trucks together, and we all looked at each other and went, that’s not good. We were seeing people crying and taking pictures with Ric and the belt. We knew it was bad, but we just didn’t know how bad. Then Shane McMahon calls a meeting in five minutes. In five minutes of us trying to find out what was going on, Shane had a meeting, and he comes walking in with the entire company inside this room. It was about 45 seconds long tops. He said, ‘Hey, my name’s Shane McMahon. I own the company. My dad bought the company today, so we now own the WCW. We’re going to keep some wrestlers. We’re going to get rid of some wrestlers. We’re going to keep some referees. We’re going to get rid of some referees. We’re going to keep some office talent, and we’re going to fire some office talents. Good luck. See you later.’ That was it.”

source: cbslocal.com