There were a lot of factors that made it a money pit that Ted Turner constantly through millions into, and there were a lot of bad creative directions, but the true death knell was the Turner/AOL merger. Flat out, AOL didn't want wrestling on their programming regardless to if it got ratings or drew money. Luckily for them, WCW gave AOL a slew of reasons to scrap the promotion. Word was that Bischoff tried to get investors involved in buying the company, but McMahon swooped in and took it for a relative steal. Even if Bischoff had gotten WCW, there's plenty of proof from promotions like XWF, WWA, and even NWA-TNA that Eric was never going to get a major market television company to back him and give him a prime time slot. Wrestling as a whole was on a popularity decline, and as prior mentioned WCW wasn't the most financially stable promotion in the world, and Bischoff had a lot to do with that.