__________________________________________________ After weeks of speculation WCW has finally been sold to Fusient Media Ventures making Eric Bischoff the companies creative director. WCW has been lacking funding recently from Brad Siegel to advertise and reclaim ratings, Easy E's return could be what is needed for the company. Hulk Hogan will be returning to WCW possibly as a booker Bischoff did say that he would have some sort of roll within the company. It is rumoured that WCW was sold for $88 Million. The Company will still be named World Championship Wrestling and for the time being be shown on The Turner Networks e.g. TNT. Brian Bedol OF Fusient Media will control the financial side of WCW while Bischoff will be in control of TV and creativity. Bischoff and his associates also own WCW.com WCW.com's SIN Intro has been removed this may be due to the fact that a new plan will be made for the PPV. Fan's must remember that Bischoff invented the NWO, The Nitro Girls, brought life into a second rate company and created the new wrestling era which was copied by the WWF'S when they created attitude and DX. Bischoff Will Breathe life into WCW...... _______________________________________________ Press Release http://www.wcwtnb.com __________________________________________________ NEW YORK - January 11, 2001 - Fusient Media Ventures, an integrated media company that invests in high-potential, branded media properties, has entered into an agreement with Turner Broadcasting System, Inc. (TBS, Inc) to acquire the business of World Championship Wrestling (WCW), an industry leader in live action-based entertainment. Following the acquisition, TBS, Inc. will retain a minority interest in the WCW business and long-term programming rights. The proposed acquisition marks the return of Classic Sports Network founders Brian Bedol and Stephen Greenberg to the cable arena and the return of former WCW president Eric Bischoff to the world of professional wrestling. Celebrated for successfully building an entrepreneurial-based cable network, which they later sold to ESPN, Bedol and Greenberg went on to found Fusient Media Ventures. Fusient will take over all day-to-day operations of WCW, with Bedol as the new CEO. Bischoff, who helped build the WCW franchise into a ratings powerhouse during the mid-90s, 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 re-establish the WCW as the champion of professional wrestling entertainment," said Brian Bedol, chief executive officer of WCW Incorporated. "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." The broad-based WCW franchise includes WCW Monday Nitro Live (TNT), one of the most popular programs on cable television; WCW Thunder (TBS Superstation), one of the network's most watched programs; WCW Worldwide, seen in syndication in 94% of the country; and 12 monthly pay-per-view specials that consistently are among the industry's top sellers. "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. Bischoff began his career with the WCW in the early 1990s as an on-air announcer and rose through the ranks to become president of the company. Under his leadership, WCW became the top-rated wrestling franchise on television, an accomplishment that lasted for 96 weeks. The complete ownership group will be announced at closing. __________________________________________________ About WCW World Championship Wrestling (WCW), a division of Turner Broadcasting System, Inc., is an industry leader in creating live action-based entertainment for millions of enthusiastic fans each week. __________________________________________________ About Fusient Media Ventures 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. __________________________________________________ Press Call http://www.wcw.com __________________________________________________ Turner Broadcasting/Time Warner announced this morning the sale of World Championship Wrestling (WCW) to Fusient Media Ventures, an integrated media company. During a tele-conference regarding Fusient's acquisition, Brad Siegel, president of general entertainment networks for TBS, Inc. said, ironically TBS never intended to sell the company. But as rumors to the contrary gained momentum, prospective buyers approached WCW with offers. After scrutinizing them all, "Fusient clearly rose to the top," Siegel said. "Turning over the operations and the assets to these guys just made a lot of sense," Siegel added, "and we think it will allow the business to really grow and flourish and get back on top and really become dominant in [the sports entertainment] industry again." Though, according to the acquisition agreement, Fusient will assume WCW's day to day operations, TBS, Inc. will retain a minority interest in WCW and long-term programming rights. Fusient CEO Brian Bedol, and his business partner, Steve Greenberg, brought former WCW creative director Eric Bischoff back on board as WCW president. Bedol said the company has no immediate plans to change the WCW name and will not cut back programming. Here are other highlights from this morning's tele-conference: Programming will remain the same, with Nitro airing at 8 p.m. ET, Monday nights on TNT and Wednesday Thunder airing at 9 p.m. ET on TBS. Regarding WCW's current talent roster, Bischoff said the company plans to "keep lots" of the present competitors as well as bring in fresh faces. When asked what role,if any, Hulk Hogan would play in WCW's future, Bischoff said it is yet to be decided, but acknowledged Hogan is an "important brand." It has not been determined whether WCW's headquarters will move from Smyrna, GA, where the company is presently located, Bedol said. Fusient is a New York-based operation with offices in Los Angeles. According to Bedol, other unnamed investors in WCW will be announced in roughly 30 to 45 days when the deal is finalized; New York Yankees owner George Steinbrenner is not among them. Bedol said it will take time for viewers to notice Fusient's influence on WCW programming. Some changes will be "evolutionary" and some will be "revolutionary," he added. When asked if Fusient has plans to "re-launch" WCW, Bedol said, "no one is going to miss what we do; it'll be drastic."