Date: 12th January 2001

TBS Sells Its World Championship Wrestling League

Turner Broadcasting's beleaguered wrestling league, World Championship Wrestling (WCW), has been acquired by Fusient Media Ventures for an undisclosed figure. Fusient is headed by Brian Bedol, founder of Classic Sports Network, which later became part of Time Warner's ESPN. Once a dominant wrestling organization, WCW has been outmatched by Vince McMahon's World Wrestling Federation (WWF) and is believed to have lost about $80 million last year.

Source: Studio Briefing