8 Decisions That Pushed WCW Towards Ruin
3. Ted Turner Approving AOL Time Warner Merger
This would have needed a lot of forward thinking back at the time, which was as unlikely as Ted Turner sending Vince McMahon a Christmas card.
From interviews with Eric Bischoff it's clear once the merger of AOL Time Warner happened, the handcuffs were put on WCW in terms of spending and content. WWE were always going to win with more mature programming and characters they were allowed to showcase. Ted Turner ended up losing $7 billion in stock due to the merger, losing control and the financial means to back WCW.
Bischoff's attempt to pick up the pieces in 2001 came too late, with the removal of the product from television ending hopes of a rescue. If Turner hadn't approved the merger and continued to back WCW financially, they would at least have had a fighting chance of avoiding peril. Instead they were boxing with both hands tied behind their backs, whilst blindfolded, and on fire.