WCW sale appears imminent
The New York Post reported in today's edition that the sale of World Championship Wrestling to Mandalay Sports Entertainment is imminent.
Citing a report in the trade publication Electronic Media, The Post quoted a WCW spokesman as saying, "There's a lot of speculation
out there but no hard facts."
Mandalay "has enjoyed an extremely successful working relationship with the WCW, Turner and Eric Bischoff over the past several years, and we anticipate that relationship continuing, " company officials said in a statement.
The word is that WCW has lost between $50 million and $80 million U.S. this past year, and that its parent company Time Warner is looking to dump it from the books before the sale to AOL is finalized in November
WCW was purchased by Ted Turner back in the late '80s, and wrestling had always been a part of Turner's flagship WTBS SuperStation. When Turner sold out to Time Warner in September 1995.
The Post quotes a statement issued by Mandalay officials. "While no deal is imminent, we are always interested in adding properties to our portfolio that will expand our presence and position in the field of sports entertainment."
The Pro Wrestling Torch web site
had the following report: "There is a strong feeling within World Championship Wrestling, not only in the front office, but with the workers, too, that the announcement of the company's sale to Mandalay Sports could be made today. If the deal is not confirmed today, then it is expected to be confirmed imminently. A number of WCW employees who, only a few days ago, did not believe the talk of a sale had any truth to it, now look at the sale as being imminent."
Former WCW honcho Eric Bischoff is believed to be behind the Mandalay bid.
There is also speculation that SFX, a company that promotes concert tours and works with WCW already on house shows, may be involved in the deal as well.
The WWF has also been talked about, and should not be ruled out.
-- SLAM! Wrestling