On this day in Pro Wrestling history on March 23, 2001, WWF purchased their competition, WCW. Below is the press release that was issued:
“STAMFORD, Conn., March 23, 2001 – World Wrestling Federation Entertainment, Inc. (NYSE: WWF) today announced its purchase of the World Championship Wrestling (WCW) brand from Turner Broadcasting System, Inc. (TBS Inc.), a division of AOL Time Warner.The purchase of WCW creates a tag team partnership with the World Wrestling Federation brand that is expected to propel the sports entertainment genre to new heights.In keeping with the company’s strategic alliance with Viacom, new WCW programming is anticipated to air on TNN in the near future. The possibility of cross-brand storylines and intrigue, however, may start as early as Monday night during WWF Raw Is War on TNN and the final performance of WCW Monday Nitro Live on Turner Network Television (TNT).The binding agreement provides World Wrestling Federation Entertainment with the global rights to the WCW brand, tape library, and other intellectual property rights.
“This acquisition is the perfect creative and business catalyst for our company,” said Linda McMahon, Chief Executive Officer of World Wrestling Federation Entertainment. “This is a dream combination for fans of sports entertainment. The incendiary mix of World Wrestling Federation and WCW personalities potentially creates intriguing storylines that will attract a larger fan base to the benefit of our advertisers and business partners, and propel sports entertainment to new heights.”“The acquisition of the WCW brand is a strategic move for us,” said Stuart Snyder, President and Chief Operating Officer for World Wrestling Federation Entertainment. “We are assuming a brand with global distribution and recognition. We are adding thousands of hours to our tape library that can be repurposed for home videos, television, Internet streaming, and broadband applications. The WCW opens new opportunities for growth in our Pay Per View, live events, and consumer products divisions, as well as the opportunity to develop new television programming using new stars. We also will create additional advertising and sponsorship opportunities. In short, it is a perfect fit.”
• WWE Star Responds To Allegations Of His Actions Perpetuating A Racial Stereotype
During a recent interview with Newsday, SmackDown Live wrestler Xavier Woods responded to allegations of The New Day’s habit of handing out pancakes to people at WWE shows perpetuates a racial stereotype from the early 20th century.
Woods then noted how New Day’s love for pancakes comes from a segment they did last year before a Lumberjack match:
“I said, ‘Well, if I’m a lumberjack, what do they eat? They eat flapjacks.’ It was hilarious. So, we said the next week, ‘Are we going to do pancakes? Yeah, sure. Why not?’ And that’s where the pancakes came from.
If there’s ever any source of contention or anything like that, I think that it’s a situation where you should take a look at yourself and think about how deep you are looking into something that’s not really there.”