News

Fusient Bails on WCW Deal

3/21/2001 9:37 AM Eastern

Fusient Media Ventures made it official Tuesday night, issuing a one-sentence
announcement that it had terminated a deal to buy the struggling World
Championship Wrestling venture from Turner Broadcasting System Inc.

Fuient pulled out 'as a result of the decision by Turner Broadcasting System
to no longer carry wrestling programming on its networks,' according to the
statement.

Last week, TBS executives indicated that they would no longer run WCW
programming on Turner Network Television or TBS Superstation.

In January, TBS cut a deal to sell WCW to Fusient for about $75 million.
Fusient is run by Brian Bedol and Stephen Greenberg, who founded Classic Sports
Network, and later sold it to ESPN.

Bedol and Greenberg formed Fusient as an Internet-company incubator early
last year, shortly before the dot-com crash.

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