 On 19 March 2001 Eric Bischoff announced that he would be appearing  on the following week with a major announcement. Originally Bischoff  was going to announce that he and his company Fruscient Media were  going to be purchasing WCW. However, the deal fell through when the  Turner networks announced they no longer would be carrying  wrestling. That left the door wide open for Vince McMahon to buy the  company as well as the WCW video library.