Meanwhile, Austin's popularity and stardom sparked a turnaround in Monday Night Raw’s ratings as he quickly became the WWF's franchise player. WCW still legally owned and used the actual belt which represented the NWA World Heavyweight Championship, however, and Rick Rude even defended it as the "Big Gold Belt", but they could no longer use the NWA name. Hogan referred to a "new world organization of wrestling". The WCW World Heavyweight … At its peak, the rivalry res… 92% Upvoted. In 1994, WCW signed Hulk Hogan and other former WWF stars to multi-year contracts, and in 1995 launched Monday Nitro on TNT, to go head to head with Raw, starting the Monday Night Wars. A sale nearly occurred in late 2000 to Bischoff and a group of private investors calling themselves Fusient Media Ventures, with news reports and even Eric Bischoff declaring a deal was in place. Footage of Rude with the NWA title shot at these tapings had caused the controversy with the NWA discussed above. Although neither was a trained wrestler, both Russo and actor David Arquette each won the WCW World Heavyweight Championship, the latter in order to promote the box-office flop Ready to Rumble (though Arquette was vehemently against winning the championship, believing that fans, like himself, would detest a non-wrestler winning the title). [7][8] AOL Time Warner maintained its subsidiary, which reverted to its original legal name of Universal Wrestling Corporation, to deal with legal obligations and liabilities not acquired by WWF. Also that year, WWE brought back the WarGames match as part of their WWE Network series NXT TakeOver featuring their NXT brand. "NWA and WWF gain momentum - Is Wrestling Headed Towards A Two Party System?" Infuriated by Russo's actions (which conflicted with his intentions for Bash), Bischoff departed once more in July 2000. [74], With Bischoff's removal, an announced "million-dollar contest" was later cancelled and a planned Nitro animated series was scrapped as well. Goldberg turned heel for the first time in his career at The Great American Bash, but the execution of the turn was botched, and after a lackluster feud with Kevin Nash and a failed attempt to duplicate his original streak, Goldberg's drawing power was greatly diminished. For years, Sting was a very popular and charismatic character. WCW has also gone on to be featured in various modern WWE media. The match was originally advertised as a Starrcade rematch between Nash and Goldberg. By the summer of 1998, he was outright ordered to alter WCW's format to a more "family-friendly" output. When you saw WCW vs. WWE guys on television every week, it took everything away. The sale was completed on November 2, 1988, with a television taping of NWA World Championship Wrestling that very same date in WCW's hometown of Atlanta. Eventually, the titles were unified into their WWF … why did WCW start 2 go downhill? Flair helped bring in Ricky Steamboat and Terry Funk, and his pay-per-view matches with Steamboat were financially and critically successful. The second highest ranked title used in WCW. Herd was fired in January 1992 and was succeeded by Kip Allen Frey. 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