After failing trying to get a substitute TV outlet, Fusient Media Ventures abandoned its effort to buy Turner Broadcasting's World Championship Wrestling.
Fusient, run by Classic Sports Network founders Brian Bedol and Steve Greenberg, agreed in January to pay $75 million for the wrestling operation, including a live event circuit, PPV specials and weekly shows on Turner's TBS Superstaion and TNT.
But new Turner boss Jamie Kellner soured on wrestling and two weeks ago cancelled the shows. Bleeding $80 million in cash as it is with low ratings on the Turner nets, WCW isn't worth much without a TV outlet.
Bedol had tested the interest of other nets, including Fox, FX and USA Network. No word from Turner executives.
- John Higgins