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81-702: Jim Crockett Promotions is a family-owned professional wrestling promotion headquartered in Charlotte, North Carolina , United States. Founded in 1931, the promotion emerged as a cornerstone of the National Wrestling Alliance (NWA). By the 1980s, Jim Crockett Promotions was, along with the World Wrestling Federation (WWF, now WWE), one of the two largest promotions in the United States. The Crockett family sold

162-403: A face ) appeared to win a title match and was about to be awarded the championship belt (or any similar situation), only to have the win overturned due to a technicality. As a result, attendance at live shows began to fall — even at venues where JCP had traditionally drawn well or extremely well. By 1988, JCP was on the verge of bankruptcy . In November 1988, Turner Broadcasting System purchased

243-611: A face on October 25, to take Magnum T. A.'s place while still being able to have a profitable build-up to Starrcade's main event. JCP alienated loyal fans in the Carolinas by moving Starrcade '87 and the Bunkhouse Stampede to arenas in Chicago and New York City, respectively. JCP had no real history and market presence in either of these non-southern metro areas, and its ability to drawing sellout crowds for arena shows in

324-537: A family business will also show maturity of the business. If all the shares rest with one individual, a family business is still in its infant stage, even if the revenue is strong. Les Thatcher Leslie Malady (born October 28, 1940), better known by the name Les Thatcher , is an American former professional wrestler . He helps run Elite Pro Wrestling Training, a professional wrestling school in his hometown of Cincinnati, Ohio, with Ricky Steamboat and, up until his death on August 1, 2019, Harley Race . He

405-657: A family business. The economic prevalence and importance of this kind of business are often underestimated. Throughout most of the 20th century, academics and economists were intrigued by a newer, “improved” model: large publicly traded companies run in an apparently rational, bureaucratic manner by well trained “organization men.” Entrepreneurial and family firms, with their specific management models and complicated psychological processes, often fell short by comparison. Privately owned or family-controlled enterprises are not always easy to study. In many cases, they are not subject to financial reporting requirements, and little information

486-533: A family firm in case a family controls more than 50% of the voting rights. For a publicly listed firm, a firm is classified as a family firm in case the family holds at least 32% of the voting rights. Family owned businesses account for over 30% of companies with sales over $ 1 billion. In a family business, two or more members within the management team are drawn from the owning family. Family businesses can have owners who are not family members. Family businesses may also be managed by individuals who are not members of

567-403: A founder intends to transfer ownership in the family business to their four children, two of whom work in the business, how do they balance these unequal differences? The four siblings need a system to do this themselves when the founder is no longer involved. The third situation is when there are multiple owners and some or all of the owners are not in management. Given the situation above, there

648-543: A majority interest in JCP for $ 9 million. The Crockett family retained a minority interest, with Crockett, Jr. becoming a consultant. Turner Broadcasting System ultimately rebranded the promotion World Championship Wrestling . In 1993, JCP ceased to exist. On May 16, 2022, Ric Flair announced he would return to the ring for one last match under Jim Crockett Promotions, Ric Flair's Last Match on July 31, 2022. Shortly after Flair's announcement, David Crockett and Conrad Thompson of

729-422: A majority interest in the promotion to Turner Broadcasting System (which was acquired by Time Warner in 1996, later became WarnerMedia from 2018–2022, now known as Warner Bros. Discovery ), resulting in the creation of World Championship Wrestling (WCW) in 1988. In 2022, Jim Crockett Promotions Inc. was restarted by Jim Crockett's son and Jim Crockett Jr's brother, David Crockett . Jim Crockett (1909–1973)

810-528: A number of its co-owners (including Barnett and brothers Jack and Jerry Brisco ), thus gaining control of GCW's flagship Saturday night time slot on TBS. This tactic—co-opting the time slots of rival territories in their own "backyard"/local TV markets—was part of the WWF's national expansion strategy. To McMahon's surprise, however, the move backfired with TBS. When the WWF aired its first show on TBS on July 14, replacing World Championship Wrestling , viewer backlash

891-448: A partnership, had also withdrawn from the NWA. JCP also began to run shows in new markets from coast-to-coast (often in less-than-sold-out arenas), greatly increasing travel costs and other overhead. JCP's first pay-per-view endeavor, 1987's Starrcade , was scheduled in its traditional Thanksgiving slot, but ran into unexpected competition from the WWF's inaugural Survivor Series PPV, which

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972-458: A prime source of wealth creation and employment. In some countries, many of the largest publicly listed firms are family-owned. A firm is said to be family-owned if a person is the controlling shareholder; that is, a person (rather than a state, corporation, management trust, or mutual fund) can garner enough shares to assure at least 20% of the voting rights and the highest percentage of voting rights in comparison to other shareholders. Some of

1053-535: A secondary company out of Knoxville, Tennessee . The promotion featured such stars as Mulligan; his son Barry Windham (then billed as Blackjack Mulligan Jr.); Kevin Sullivan ; Wayne Ferris ; The Mongolian Stomper ; Terry Taylor ; Tim Horner , and others. The enterprise lasted less than one year, however. By the 1980s, American professional wrestling was undergoing seismic and rapid change. The old, NWA-sanctioned system of separate, regional "territory" promotions

1134-455: A single supercard in 1985 and expanding to the full tour in 1986. By 1987, Crockett was elected to a third term as NWA President, and gained control (either through purchase or working agreements) of the St. Louis Wrestling Club , Heart of America Sports Attractions ( Bob Geigel 's Central States brand), Championship Wrestling from Florida , and Bill Watts 's Mid-South Sports (which operated under

1215-641: A twelve-year-old. He attended Central High School in Cincinnati. Thatcher heard about Tony Santos, a promoter and owner of a wrestling school in Boston, Massachusetts . Shortly thereafter, he began training in February 1960. On July 4, 1960, Thatcher made his professional wrestling debut against “Cowboy” Ronnie Hill in Blue Hill, Maine . In 1966, Thatcher started to work as part of a "cousins" faction. He

1296-446: Is a higher chance that the interests of the two off-spring not employed in the family business may be different from the interests of the two who are employed in the business. Their potential for differences does not mean that the interests cannot be aligned, it just means that there is a greater need for the four owners to have a system in place that differences can be identified and balanced. There appear to be two main factors affecting

1377-724: Is also on the board of directors of the Cauliflower Alley Club . He won several regional tag team championships with various partners, including Nelson Royal and Roger Kirby . He turned his hand to singles competition as a junior heavyweight . Thatcher was born in Cincinnati , Ohio . He first watched wrestling when he was eight years old while at a friend's house, stating, "The action on that little ten-inch black & white screen just reached out and grabbed me". In his youth, he played basketball , baseball , and football . He started wrestling at his local YMCA as

1458-520: Is fine, as long as they continue to be managed by people who are steeped in the traditions, or at least able to adapt to them. Often family members can benefit from involving more than one professional advisor, each having the particular skill set needed by the family. Some of the skill sets that might be needed include communication, conflict resolution , family systems, finance, legal, accounting, insurance, investing, leadership development, management development, and strategic planning . Ownership in

1539-404: Is made public about financial performance. Ownership may be distributed through trusts or holding companies, and family members themselves may not be fully informed about the ownership structure of their enterprise. However, as the 21st-century global economic model replaces the old industrial model, government policy makers, economists, and academics turn to entrepreneurial and family enterprises as

1620-469: Is often used to show the three principal roles in a family-owned or -controlled organization: Family, Ownership and Management. This model shows how the roles may overlap. Everyone in the family (in all generations) obviously belongs to the Family circle, but some family members will never own shares in the family business, or ever work there. A family member is concerned with social capital (reputation within

1701-488: Is that family, ownership, and business roles involve different and sometimes conflicting values, goals, and actions. For example, family members put a high priority on emotional capital—the family success that unites them through consecutive generations. Executives in the business are concerned about strategy and social capital—the reputation of their firm in the marketplace. Owners are interested in financial capital—performance in terms of wealth creation. A three-circles model

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1782-521: Is the oldest and most common model of economic organization. The vast majority of businesses throughout the world—from corner shops to multinational publicly listed organizations with hundreds of thousands of employees—can be considered as family businesses. Based on research of the Forbes 400 richest Americans, 44% of the Forbes 400 member fortunes were derived by being a member of or in association with

1863-435: Is to recognise the issues that they face, understand how to develop strategies to address them and more importantly, to create narratives, or family stories that explain the emotional dimension of the issues to the family. The most intractable family business issues are not the business problems the organisation faces, but the emotional issues that compound them. Many years of achievement through generations can be destroyed by

1944-646: The Brian Pillman Memorial Show . He also operates professional wrestling training seminars and weekend camps under the Elite Pro Wrestling Training banner. From 1955 to 1966, he competed in NHRA drag racing, winning 100 trophies and two regional championships. In his late 40s and early 50s, he competed as a bodybuilder with NPC Masters Bodybuilding. He helped produce the first wrestling T-shirt in 1972 and helped publish

2025-694: The Jim Barnett -controlled company would go national itself; GCW acquiesced to the World Championship Wrestling name change in 1982. Meanwhile, by 1983, JCP went from recording its weekly shows in a television studio to shooting on-location, in between matches at live arena events. After purchasing a mobile television production unit for $ 1 million, Crockett unveiled what became the NWA's dominant annual supercard, Starrcade . In 1984, McMahon's WWF purchased controlling interest in GCW from

2106-606: The NWA World Heavyweight Championship during his presidency; by this point, JCP's top contracted performer, Ric Flair , was locked-in as the champion. Moreover, even though Flair was obligated to perform title-defense matches in each territory against the territory's own chosen star/challenger, any title changes only occurred between other performers also contracted to Crockett, such as Dusty Rhodes and Ron Garvin . Crockett's rapid expansion had significant financial consequences for JCP. By December,

2187-546: The National Wrestling Alliance (NWA). Crockett joined the National Wrestling Alliance (NWA) in 1952, and his "territory" covered Virginia , North Carolina and South Carolina . The name "Mid-Atlantic Championship Wrestling" became JCP's primary brand name in print, radio, and other advertising (the name was also used for its main television programs). The business was incorporated in the 1950s. Jim Crockett died in 1973. He left JCP to his family, with his eldest son, Jim Crockett, Jr. , taking over as chief executive. Led by

2268-625: The Southeast eventually suffered, as some local fans vindictively withheld their support. Booking decisions also factored into the promotion's downfall. JCP flushed away a potentially profitable angle following the acquisition of Bill Watts 's UWF by " burying " the UWF's talent. Instead of portraying them as competitive with JCP wrestlers, the UWF's wrestlers and championships were portrayed as second-rate compared to those of JCP. Meanwhile, mid-carder Ron Garvin beat perennial champion Ric Flair for

2349-551: The Starrcast wrestling fan convention filed for U.S. trademarks on "Jim Crockett Promotions" and "JCP" with respect to wrestling events, news, and merchandise. During a media call promoting the pay-per-view, Thompson stated he will give his 50% percent of the U.S. trademarks of Jim Crockett Promotions to David Crockett on August 1, 2022, after the conclusion of the Starrcast weekend. Family business A family business

2430-536: The USA Network opposite Bunkhouse Stampede, cutting into its buy rate. Crockett then attempted to use McMahon's tactics against him, airing Clash of the Champions I —featuring a PPV-quality card—on TBS in an attempt to draw viewers away from WrestleMania IV on PPV, which took place that same night. This was one of the few tactics to actually work for JCP in its war with the WWF, as WrestleMania IV's buy rate

2511-687: The 1970s, Thatcher also announced for Southeastern Championship Wrestling . Throughout his broadcasting career, he also worked with Bob Caudle , Lance Russell and Jim Ross . During his announcing/hosting tenure, he worked for such companies as Georgia Championship Wrestling . In 1994, Thatcher worked as an announcer for Smoky Mountain Wrestling in East Tennessee. He also ran the Heartland Wrestling Association beginning in 1996. He also created & produced

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2592-978: The 1980s, Crockett, Jr. began consolidating the Southern member promotions of the National Wrestling Alliance. Discarding the Mid-Atlantic Championship Wrestling brand, he began promoting his events simply as NWA shows, although his promotion remained distinct from the larger NWA entity. In August 1980, Crockett, Jr. was elected president of the NWA, and the next year (the same year Crockett moved his TV show tapings from Raleigh to Charlotte), former (and future) Georgia Championship Wrestling (GCW) booker Ole Anderson took over as Mid-Atlantic's booker. In 1981, Anderson booked both JCP and GCW simultaneously. In 1982, Crockett partnered with wrestlers Ric Flair and Blackjack Mulligan to start Southern Championship Wrestling,

2673-639: The Bunkhouse Stampede did not draw as well when moved out of JCP's traditional territory. According to Rhodes, JCP failed to gain the national name recognition that McMahon achieved with the World Wrestling Federation. Rhodes also pointed out that with the WWF's success, McMahon was financially able to lure the top talent away from rival companies. Because of this, JCP offered many of its stars lucrative contracts - paying them beyond their actual value - to prevent them from leaving

2754-549: The Mid-South Wrestling, and later, upon expansion, Universal Wrestling Federation brand names). Despite Crockett now having six consolidated territories under his banner and leading the NWA, JCP and the NWA were still two separate entities, and Crockett—like all NWA promoters before and since—was simply licensing the NWA brand name, whose true value was as a credibility-infusing, fan-trusted brand name for wrestling championships. Still, Crockett had an iron-clad grip on

2835-537: The NWA world title. Although Garvin was booked to be a babyface, many fans did not find him credible enough to be a serious threat to Flair. JCP apparently neglected to monitor its own lavish spending as well. Crockett flew himself and his top performers around in an expensive private jet. In addition to the expense of Crockett's personal jet, there were other extravagant purchases such as the limousines provided for various wrestlers and regular business parties held by officials throughout JCP's regional offices. In addition,

2916-616: The Saturday evening WWF show, and viewers clamoring for GCW's return, began to make the WWF's move a money-losing one. Eventually, McMahon cut his losses and sold the time slot to Crockett for $ 1 million. Although this gave Crockett vital national exposure, it also allowed McMahon to finance his own marquee wrestling event, WrestleMania . This chain of events was critical in Turner's eventual decision to purchase JCP and form World Championship Wrestling (WCW) in 1988. An extra sense of urgency

2997-762: The WWF buyout of the Toronto territory occurred, as well as after the airing of the WWF program The War to Settle the Score on MTV to high ratings. Together with the Minneapolis -based American Wrestling Association (AWA), Championship Wrestling from Georgia, and Memphis -based Jarrett Promotions, JCP created Pro Wrestling USA . However, the organization fell apart in January 1986. Crockett bought out Ole Anderson's Championship Wrestling from Georgia, on April 6, 1985, and

3078-486: The WWF was the uncontested #1 PPV content provider in America at the time, only a handful of companies committed to air Starrcade, devastating the event's profitability. After the cable industry warned McMahon to never again attempt such a move, Crockett felt it safe to restart his PPV attempts, and scheduled Bunkhouse Stampede in January 1988. However, the WWF again sabotaged JCP by airing the first-ever Royal Rumble on

3159-400: The additional planning task of balancing family and business demands. There are five critical issues where the needs of the family and the demands of the business overlap—and require parallel planning action to ensure that business success does not create a family or business disaster. Fairness is a fundamental issue in family business decision-making. Solutions that are perceived as fair by

3240-674: The broadcast to several local TV stations throughout the Carolinas and Virginia. In 1981, JCP moved to the WPCQ-TV studios in Charlotte (a station once owned by Ted Turner ). The local shows hosted by announcers like Billy "Big Bill" Ward (from WBTV in Charlotte) and Charlie Harville (at WGHP in High Point) gave way to Mid-Atlantic Championship Wrestling (known briefly in 1978 as Mid-Atlantic Championship Sports ). Mid-Atlantic

3321-466: The business requires those to stay competitive, the interests of the entire family and the business are not aligned. Nepotism has been listed as a problem with family businesses. Forbes writes that "nepotism in family businesses is a phenomenon that has been present for centuries" and that it is "prevalent" in such businesses. Nepotism-based favouritism contributes to a poorer workplace atmosphere and tension, which can impact worker contributions to

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3402-451: The business. Involving someone else to manage the company requires the founder to be more conscious and formal in balancing personal interests with the interests of the business because they can no longer do this alignment automatically—someone else is involved. The second situation is when more than one person owns the business and no single person has the power and support of the other owners to determine collective interests. For example, if

3483-519: The community), dividends, and family unity. The Ownership circle may include family members, investors and/or employee-owners. An owner is concerned with financial capital (business performance and dividends). The Management circle typically includes non-family members who are employed by the family business. Family members may also be employees. An employee is concerned with social capital (reputation), emotional capital (career opportunities, bonuses and fair performance measures). A few people—for example,

3564-528: The company had bought-out the rival UWF; Crockett even moved many of his administrative employees from his Charlotte base to the UWF's former offices in Dallas. Jim Crockett, Jr. and Dusty Rhodes personally manned the Dallas office, leaving Jim Jr.'s brother David Crockett in charge of the Charlotte operations. Bob Geigel, a former NWA President who bought his promotion back from Crockett in Febrtuary 1987 through

3645-415: The company. Another factor was the fans' exasperation with the " Dusty Finish " (a type of " screwjob " finish named after Rhodes, who did not actually invent the concept, but used it frequently for matches at regular house shows and PPV/major cards, alike). Due to the heavy overuse of this end-of-match sequence, many JCP fans started to expect the swerve at any moment, whenever a popular wrestler (usually

3726-433: The development of family business and succession process: the size of the family, in relative terms the volume of business, and suitability to lead the organization, in terms of managerial ability, technical and commitment. Arieu proposed a model in order to classify family firms into four scenarios: political, openness, foreign management and natural succession . Potential successors who had professional experience outside

3807-424: The differing interests of family members and/or the interests of one or more family members on the one hand and the interests of the business on the other hand require the people involved to have the competencies, character and commitment to do this work. Family-owned companies present special challenges to those who run them. They can be quirky, developing unique cultures and procedures as they grow and mature. That

3888-414: The family and business stakeholders are more likely to be accepted and supported. Fair process helps create organizational justice by engaging family members, whether as owners and employees, in a series of practical steps to address and resolve critical issues. Fair process lays a foundation for continued family participation over generations. The challenge faced by family businesses and their stakeholders,

3969-409: The family business is basically owned and operated by one person, that person usually does the necessary balancing automatically. For example, the founder may decide the business needs to build a new plant and take less money out of the business for a period so the business can accumulate cash needed to expand. In making this decision, the founder is balancing his personal interests (taking cash out) with

4050-436: The family business may decide to leave the firm to found a new one, either with or without the support of the family. Instead, successors tend to be characterized by professional experience only within the family business. The education of potential successors is a critical issue in the succession process because it affects the endowment of managerial capabilities of the firm. If the succession process has been planned in advance,

4131-428: The family enterprise. However, family participation as managers and/or owners of a business can present unique problems because the dynamics of the family system and the dynamics of the business systems are often not in balance. The interests of the entire family may not be balanced with the interests of their business. For example, if a family needs its business to distribute funds for living expenses and retirement, but

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4212-447: The family. However, family members are often involved in the operations of their family business in some capacity and, in smaller companies, usually one or more family members are the senior officers and managers. In India, many businesses that are now public companies were once family businesses. Family participation as managers and/or owners of a business can strengthen the company because family members are often loyal and dedicated to

4293-415: The family. It is a useful tool for spotting relationship patterns across generations, and decrypting seemingly irrational behavior. Family myths—sets of beliefs that are shared by the family members—can play important defensive and protective roles in families. Myths help people cope with stress and anxiety and, by prescribing ritualistic behavior patterns, will enable them to establish a common front against

4374-568: The first color edition of WWWF Magazine in 1978. In 1999, Thatcher appeared in an episode of the MTV Series True Life called "I'm A Pro Wrestler". The following year he also appeared in an episode of To Tell The Truth . He was elected onto the board of the Cauliflower Alley Club . Thatcher co-hosted a weekly wrestling radio program with Doc Young called Wrestling Weekly from 2005 to 2008. New editions of Wrestling Weekly are now being released as weekly podcasts found on

4455-469: The founder or a senior family member—may hold all three roles: family member, owner and employee. These individuals are intensely connected to the family business, and concerned with any or all of the above sources of value creation. A genogram is an organization chart for the family. It is an enhanced family tree that shows not only family events like births and deaths, but also indicates the relationships (close, conflicted, cut-off, etc.) among individuals in

4536-419: The incumbent and successor usually show higher levels of satisfaction. Particularly important is the incumbent’s willingness to step down. The incumbent gradually gives away his power to the successor. This happens step by step and may take several years. Such a transfer of power can take the form of the incumbent providing the successor with entrepreneurial resources that foster the firm's innovation. Eventually,

4617-448: The large amount of capital needed to take a wrestling company on a national tour and Crockett's aggressive territorial acquisitions had seriously drained JCP's coffers. In purchasing the UWF, JCP also took responsibility for the UWF's large debt from TV contracts, etc. Compounding the issues that came with expansion was a lack of investing in the kind of marketing needed to make it successful. As mentioned, major cards such as Starrcade and

4698-481: The late 1970s and early 1980s, it ran regular shows in Cincinnati and Dayton, Ohio . Crockett and Scott also bought minority shares of Frank Tunney 's Toronto -based promotion, Maple Leaf Wrestling . Mid-Atlantic Championship Wrestling also aired on a Buffalo, New York station, enabling the Tunney/Crockett/Scott enterprise to bring a full slate of shows to Ontario and upstate New York . In

4779-408: The local stars could still be seen. Championship Wrestling from Georgia's television show (which had the same name as the promotion itself), along with that of Bill Watts 's Mid-South Wrestling (to whom Turner had also granted a time slot), easily surpassed the ratings for the WWF broadcast, which only featured clips and wrestler promos instead of original matches. The steep decline in ratings for

4860-429: The needs of the business (expansion). The assets that are owned by the family, in most family businesses, are hard to separate from the assets that belong to the business. Balancing competing interests often become difficult in three situations. The first situation is when the founder wants to change the nature of their involvement in the business. Usually the founder begins this transition by involving others to manage

4941-430: The next, if the family fails to address the psychological issues they face. Applying psychodynamic concepts will help to explain behaviour and will enable the family to prepare for life cycle transitions and other issues that may arise. Family-run organisations need a new understanding and a broader perspective on the human dynamics of family firms with two complementary frameworks, psychodynamic and family systematic. When

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5022-436: The organisation. The interest of one family member may not be aligned with another family member. For example, a family member who is an owner may want to sell the business to maximize their return, but a family member who is an owner and also a manager may want to keep the company because it represents their career and they want their children to have the opportunity to work in the company. The challenge for business families

5103-467: The outside world. They provide a rationale for the way people behave, but because much of what makes up a family myth takes place deep beneath the surface, they also conceal the true issues, problems, and conflicts. Although these family myths can turn into a blueprint for family action, they can also turn into straitjackets, reducing a family's flexibility and capacity to respond to new situations. All businesses require planning, but business families face

5184-450: The sales profits just by providing the big viewing audience delivered by pro wrestling's loyal fanbase (wrestling generally did not attract large ad revenues at that time, due to negative industry perceptions of its lower-income target demographic). SuperStation TBS's parent company, Turner Broadcasting System , had asked Georgia Championship Wrestling to change its public brand name to World Championship Wrestling , helping fuel rumors that

5265-534: The successor gains all the authority and influence while the incumbent steps down, leaves to company completely, or remains as an advisor (Handler, 1990) . An international body called International Council for Family Business (ICFB) having professor Alain Ndedi as Board of Trustees chairman, is assisting worldwide the private sector and non for profit organisations (Universities, Foundations, etc) to develop effective and successful planning process. Successfully balancing

5346-463: The value of professional wrestling for cable television in the early 1970s. WTCG aired Georgia Championship Wrestling's programming on Saturday evenings, and wrestling provided his then-fledgling enterprise (the future SuperStation WTBS ) a source of cheap live entertainment which was well-suited to the station's target demographics. Turner could run per inquiry advertisements (for products like Slim Whitman albums and Ginsu knives) and take part of

5427-413: The world's largest family-run businesses are Walmart (United States), Volkswagen Group (Germany), Samsung Group (Korea) and Tata Group (India). The "Global Family Business Index" comprises the largest 500 family firms around the globe. In this index—published for a first time in 2015 by Center for Family Business University of St. Gallen and EY —for a privately held firm, a firm is classified as

5508-697: The younger Crockett and under the guidance of a new creative force—former wrestler-turned-match- booker George Scott —the promotion moved away from generally featuring just tag teams , to primarily focusing on singles wrestling (although tag-team matches continued to play a big part in the company). By the early-1970s, JCP had gradually phased-out its multiple weekly television tapings in such cities as Charlotte, North Carolina , Greenville, South Carolina , and High Point, North Carolina , consolidating its production schedule into just one shoot (a Wednesday night videotaping at WRAL-TV in Raleigh ), and then syndicating

5589-536: Was a member of the team with Roger Kirby and Dennis Hall. They used this gimmick in various southern territories until 1969. In the 1970s, Rudy Kay brought Thatcher to the Maritimes territory. This was the only time in his career that he worked as a heel (villainous character). It was in the Maritimes that Thatcher also began announcing matches. Afterward, he worked with Jim Crockett 's Mid-Atlantic Championship Wrestling , announcing with Gordon Solie . In

5670-888: Was a promoter of live events including professional wrestling , music concerts , plays , minor league baseball , and ice hockey . In 1931, he founded his own professional wrestling promotion , Jim Crockett Promotions. Crockett built JCP as a regional promotion centred on the Carolinas and Virginia . Although the business was always called Jim Crockett Promotions, it used a variety of pseudonyms as brand names for specific TV shows, newspaper and radio ads, and even on event tickets, themselves. Among those brand names that JCP created were "Championship Wrestling", "All Star Wrestling", "East Coast Wrestling", "Eastern States Championship Wrestling", "Mid-Atlantic Championship Wrestling", "Mid-Atlantic Championship Sports", "Wide World Wrestling", and "NWA Pro Wrestling", NWA World Wide Wrestling", and "NWA World Championship Wrestling" following its membership in

5751-506: Was added to Crockett's national expansion ambitions when, after Frank Tunney's death, his nephew and successor Jack joined forces with the WWF. Crockett would now have to either find other willing partner-promoters or buy them out if he wanted to run shows outside the Mid-Atlantic territory. This period also marked Crockett's first attempt to create a national promotion; Crockett and other wrestling companies needed this opportunity after

5832-785: Was also hosted by the team of Rich Landrum and Johnny Weaver . In 1978, JCP later added a short-lived show, The Best of NWA Wrestling , which was taped at the WCCB studios in Charlotte (across the street from the now- Bojangles' Coliseum , a regular venue for Mid-Atlantic live events) and featured then-active wrestler Johnny Weaver sitting down with top stars in a "coach's show" format (in which host and guest did running commentary over 16 millimeter film footage of matches from local arenas). Rich Landrum and David Crockett appeared on "Best Of", doing promo interviews for local arena shows. JCP gradually began to expand, running shows in eastern Tennessee, parts of West Virginia , and even Savannah, Georgia . In

5913-440: Was basically a re-packaged version of Mid-Atlantic , and it was also announced by Billy "Big Bill" Ward. In 1975, JCP premiered a new, syndicated show, Wide World Wrestling (renamed World Wide Wrestling in 1978). The original host of this show was former Georgia Championship Wrestling announcer Ed Capral. Subsequent Wide World / World Wide announcers included Les Thatcher, George and Sandy Scott , and Dr. Tom Miller. It

5994-542: Was collapsing under increasing competitive pressure from Vincent K. McMahon 's World Wrestling Federation (WWF, now WWE )—itself a family-owned territory promotion covering the northeastern U.S. — which was aggressively expanding into a nationwide promotion. Crockett had similar expansion goals, envisioning a united NWA through JCP's buyout of or merger with all of the NWA's regional promotions. Ted Turner , whose Atlanta television station WTCG would become distributed nationally via satellite starting in 1976, had realized

6075-542: Was frequently referred to in the influential Pro Wrestling Illustrated and its sister publications by the WCW name or more commonly as "the World Championship area." As a result of the success World Championship Wrestling now had from acquiring the Saturday night time slots, Crockett (along with JCP booker Dusty Rhodes ) was able to establish an annual summer arena tour, " The Great American Bash " starting with

6156-420: Was hosted by Bob Caudle , (a longtime WRAL weatherman). Caudle was joined by a rotation of co-hosts (everyone from Les Thatcher all the way to Dr. Tom Miller ), before David Crockett (another son of Jim Crockett Sr.) became Bob's permanent co-host/ color commentary man (after ending a very brief career as a wrestler, himself). For a brief period, a secondary show, East Coast Wrestling , was taped at WRAL; it

6237-625: Was much lower than that of the previous year's Survivor Series. However, Clash of the Champions was now the only thing Crockett could use to keep the NWA alive, though it was not even as highly watched as the WWF's Saturday Night's Main Event . On the verge of bankruptcy, Crockett sold Jim Crockett Promotions to Ted Turner in November 1988, and the promotion was renamed the Universal Wrestling Corporation. Soon after, it

6318-612: Was re-elected NWA President. This was to help counter the WWF, after it became America's dominant wrestling business in the wake of WrestleMania. Crockett then purchased both Saturday evening TBS time slots from Vince McMahon and filled the time slot with two hours of original programming filmed in Ted Turner's Atlanta studios . The programming aired under the World Championship Wrestling banner, which had been adopted by GCW before its demise. The entire company

6399-509: Was renamed again to World Championship Wrestling (WCW). The eventual downfall of JCP, leading to its eventual sale to Ted Turner (and thereby the birth of WCW) can be attributed to several key factors. Magnum T. A. — one of JCP's top babyfaces , and the performer scheduled to become NWA World Heavyweight Champion at Starrcade 1986 — was severely injured in a car accident over two months before Starrcade (October 14), and could never wrestle again. So, JCP turned major "heel" Nikita Koloff , into

6480-418: Was scheduled to air the same night. Not wanting to possibly lose to the WWF in a direct PPV competition, Crockett decided to move Starrcade's starting time to Thanksgiving afternoon instead of the evening. However, the WWF then threatened cable companies that if they chose to air Starrcade, they would not be offered future WWF PPVs, including that year's Survivor Series and the forthcoming WrestleMania IV . Since

6561-530: Was severe, as the show's Southern fans were incensed to see their beloved stars suddenly replaced—without advance notice—by an "invading force" of wrestlers from "up North", an event that has since become known in pro wrestling lore as Black Saturday . In response to the ensuing deluge of complaints, TBS granted an upstart promotion called Championship Wrestling from Georgia (backed by holdout GCW shareholder and NWA member Fred Ward and former GCW wrestler/booker Ole Anderson) an early Saturday morning time slot so that

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