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  Jan 11, 2002

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READER ALERT: For all the latest wrestling happenings, check out our News & Rumours section.

WCW sold to Fusient Media Ventures
Eric Bischoff firmly in charge again

Finally. The drama that has been going on over the sale of World Championship Wrestling has come to an end.

The winner? Meet Fusient Media Ventures. The boss? Same as the old boss, Eric Bischoff. Upon his return Bischoff is also bringing back television writer Vince Russo to put together the angles / scripts for WCW.

According to the press release, Fusient has entered into an agreement with Turner Broadcasting System, Inc. to acquire WCW. TBS, Inc. will retain a minority interest in the company and retain the rights to the broadcasts.

Classic Sports Network founders Brian Bedol and Stephen Greenberg are behind Fusient Media Ventures. ESPN acquired Classic Sports Network a while back.

Bedol will be the new CEO of WCW. Bischoff will assume the role of president. The partnership of Bedol, Greenberg and Bischoff brings together more than 50 years of combined experience in the entertainment, television and sports industries.

"We're going to reestablish the WCW as the champion of professional wrestling entertainment," said Brian Bedol in the release. "There is huge untapped potential for the franchise and with Eric Bischoff on board we will crank everything up to make the WCW franchise even bigger, better, stronger and more entertaining than anything wrestling fans have ever experienced before."

"We are pleased to have reached an agreement with Fusient Media Ventures that truly represents a win for all parties," said Bradley J. Siegel, president of general entertainment networks, TBS, Inc. "The Fusient management team's experience in programming, production and marketing at Classic Sports Network lends itself perfectly to the WCW business. Their entrepreneurial business-building expertise, combined with the powerhouse brands and distribution that TBS Superstation and TNT provide, will be a winning combination."

"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," said Eric Bischoff.

Fusient Media Ventures is focused on identifying, funding, developing and distributing next generation content and converged media brands. The company is headquartered in New York, with offices in Los Angeles.

-- SLAM! Wrestling, with files from CANOE Wire Services

More coverage of the WWF's purchase of WCW

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