>>9198413WCW wasn't making money due to extremely poor decisions. Not only overpaying, but given guaranteed money to over the hill guys (why do you think the Invasion angle was lacking so many top guys). Bringing in Russo for millions, having rock bands perform "live" during 99 for millions. Running Nitro's and PPVs that didn't charge for attendance.
They still had more viewers that current day wrestling, also at the time the Turner heads wanted out of wrestling as it was seen as embarrassing, it's why they sold to WWE for way less than what Eric's group was offering. Eric's offer was based on staying on Turner networks, WWE's wasn't.