Vince McMahon Purchases World Championship Wrestling

In what would turn out to be the biggest news story of the modern era, World Wrestling Federation owner Vince McMahon purchases his longtime competitor World Championship Wrestling. As part of the deal, the WWF gained certain WCW talent contracts (although most of the major, big-name contracts were not included in the purchase) and intellectual properties but, aside from eliminating his primary competitor, the biggest gain for McMahon turned out to be the acquisition of WCW’s invaluable TV footage, which WWE is still profiting from to this day.