Ted Turner was about to pull the plug on WCW. Hulk Hogan's signing WCW had become a flop after just 5 short months and both PPV buys and ratings had plumped.
As far as the WWF/WWE goes all you have to do is look at the kliq's history to know that they would of chased out every potential star that would of signed with the company in order to keep themselves and over why? because they were group of miserable, short sighted, narrow minded narcissists. Kind of like who Vince McMahon has become today.
Ted Turner didn't know shit about wrestling, which is why he had a revolving door of people to run the company. Not only that, WCW was owned by Time Warner and not solely Ted. Time Warner as a company, would have had the option to pull the plug on WCW. Most Ted could have done was sell his share of the company, and I've read that there were enough other shareholders to limit his influence with WCW. I also read that his wife was rather sick, which is when AOL-Time Warner sold WCW, against his wishes, meaning it would have taken more than Ted Turner to pull the plug on WCW.
You can say the rating plummeted but the fact is, NWA/GCW/JCP/WCW was pumping money into the Turner Networks for nearly 20 years. Ted just didn't know shit about wrestling and by his willing to spend whatever it took to make the company better and putting certain people in charge, it ultimately ruined the company. Once Hall and Nash came in, it started to die. Everything was a mess, Bischoff kept a loaded roster, which explains him being able to have 60 man battle royals and was giving out huge contracts. But, that all came from the influence and brainwashing of guys like Hall and Nash, which is sad that Ted/Time Warner didn't realize the harm they was doing to their own company.
And the second part of your posts explains the same thing I said about Hall and Nash, regarding WCW. You're saying they would have killed WWE and WWE has did great without them but disagree with me saying they killed WCW and WCW would still be around without them. Exact same scenario except WWE had guys in charge that knew how to put on a wrestling show, without giving guys HUGE contracts to do nothing. And I doubt Vince would be stupid enough to pay those guys millions to sit home.