I remember reading back then in the Wall Street Journal (of all places) that WCW was losing between $60-80 million dollars a year in their "heyday." After a couple of years like that, the suits at Time-Warner "suddenly" decided they didn't want WCW to continue being a drain on their books.... yet many folks contend the reason they dumped WCW was because the corporation didn't feel that pro wrestling was their style. Hell, if WCW was turning a big profit, I'd wager it would still be on Time-Warner's books today.
People often don't understand that even mega-corporations want their divisions to pay for themselves. They might put up with losses for a certain amount of time, but it won't go on forever. Even if WCW succeeded in their primary goal (putting WWE out of business), I can't see a way that they ever could have been profitable and self-sustaining; not with the insane salaries and production costs they were putting out there. Therefore, they had to go.
That's kind of right. When the AOL/Time Warner merger happened, Ted Turner was out. No longer was a wrestling mark in charge from the corporate level, so the new executives took a look at their books.
While WCW had turned a profit from about 1995-1997, 1998-1999 were producing MAJOR losses. If you ran a business, would you keep a division going that was losing that much money for you? Pretty easy decision to not support keeping it around. This is off topic though, but I just wanted to clera that up.
As for Punk, I really think it's just a ploy to get the right deal from WWE. You give threats and push buttons to get what you want and it might just work. Then again, if TNA is the other option, do you really think WWE is going to take his hardball stance seriously? I like Punk a lot, but if all of the star power in TNA already hasn't gained them any notoriety, why would Punk?
Ultimately, Punk has been given every opportunity to succeed in the WWE. He debuted big and they pushed him hard on ECW. He was THE most popular guy on that show and it wasn't close. Then he went to Raw where he continued to be popular and won every major title in one year. He's won Money in the Bank twice and been given two major stables to work with. He's feuded with the Undertaker, John Cena, and Randy Orton. Those are the top 3 faces in this industry. I'm not sure what else he'd like quite frankly. That's why I think this is purely a "look, I've done all of this, don't you think I deserve more money?" thing.
Could he be a little upset that Miz got the nod over him to main event Wrestlemania? Maybe, but who draws more? Who garners more heat? If you answered anything but the kid who is on every talk show and has national notoriety, you would be incorrect. That said, Punk still got a singles match at Mania against the company's second biggest babyface (and maybe the first since he doesn't get such a mixed reaction most of the time). I'd hardly call that a terrible consolation prize.
Don't get me wrong, Punk would be GREAT for TNA. He's exactly what works there in that he could be the heel version of AJ and Joe in an indy legend that marks like. Most of TNA's audience is marks anyways so he'd certainly be appreciated by the fans. Problem is, you are leaving way more fans behind and probably pissing off an employer that pushed you hard for 5 years straight. The dude is in a great position now and I wouldn't recommend screwing it up. I think he knows it and is just playing hardball. I'm sorry, but I don't see Punk going to TNA.