Industry site: WWF not buying WCW

By JOHN POWELL -- SLAM! Wrestling
 Broadcasting And Cable Online is reporting that WWF is no longer interested in purchasing its rival WCW. WWF President Linda McMahon confirmed the news saying to the industry site..."We're definitely not buying it."

Apparently, the barriers in the negotiations included business contracts the two companies had independantly, the WWF having control of WCW's ad sales, pay-per-view revenues and other such issues which could not be resolved.

Ailing for some time and falling behind the dominant World Wrestling Federation, Time Warner-owned WCW is slated to lose approximately $60 million this year. Time Warner has expressed an interest in selling the promotion in order to get it off the books before their merger with America Online at the end of the year. Insiders say that there are other offers on the table including one from a Japanese wrestling promotion.