"World Championship Wrestling (WCW) was an American professional wrestling promotion which existed from 1988 to 2001. Based in Atlanta, Georgia, it began as a regional promotion affiliated with the National Wrestling Alliance (NWA), named Jim Crockett Promotions until November 21, 1988, when Ted Turner and his Turner Broadcasting purchased the promotion, renaming it "World Championship Wrestling". Turner, and later Time-Warner, owned WCW until 2001, when it was purchased by its former competitor, the World Wrestling Federation (WWF) (now World Wrestling Entertainment).
From 1995 onwards, WCW began to turn the corner economically, largely due to the promotion of Eric Bischoff to Executive Producer, the hiring of Hulk Hogan, the introduction of Nitro and the resultant Monday Night Wars, the New World Order and other innovative concepts. However, numerous problems led to the company losing its lead. Its fall from grace has been heavily documented within the industry. The promotion was purchased in 2001 by former competitor Vince McMahon and the then-WWF."
Source: Wikipedia, "World_Championship_Wrestling", available under the CC-BY-SA License.