Turner Submits, WCW on its Own

MIKE REYNOLDS

Fans of World Championship Wrestling may get to see the circuit on media platforms outside of TNT and TBS in the wake of the proposed sale of the troubled grappling organization by Turner Broadcasting System.

The sale, to Fusient Media Ventures, a group headed by the founders of Classic Sports Network, Brian Bedol and Steve Greenberg, will keep WCW programming on Turner networks' air but removes it from direct control.

Eric Bischoff will return as president of WCW, the position he held in 1999.

Terms of the cash transaction, which is expected to close in the next 30-60 days, were not disclosed. Turner will maintain a minority stake in WCW and continue to air the WCW Monday Nitro Live on TNT and Thunder on TBS on Wednesdays.

The pact calls for the various Turner networks to up the promotional ante for the two wrestling shows. Brad Siegel, president of general entertainment networks at TBS, says Turner will also continue to handle ad sales for WCW, until Fusient wants to assume that role.

During a conference call last week, Siegel said that Turner parent Time Warner's impending union with AOL was not a factor in the company's call.

"This decision was not driven by AOL at all," he said. "We felt that while wrestling is an important TV asset, it is not our core business."

Siegel would not comment on losses for WCW in 2000, which have been estimated from $40 million to $80 million.

WCW has been getting hammered by Vince McMahon's WWF, now on Viacom's TNN, and some corporations have found the sex and violence of wrestling shows too distasteful to advertise on, let alone own.

Sources intimate will be looking to move WCW into other distribution channels. "One of the things under Turner is that the brand has been contained," says one wrestling industry executive. "There are other interested networks that can help the product grow."

WCW touring may also be reduced under Fusient.

"By having a house arena, there are some things you can do in the way of special effects that you can't do when you go on the road," says one source familiar with the deal.