On February 21, 1980, the son of Vincent J. McMahon, Vincent K. McMahon, founded Titan Sports, Inc. and on June 6, 1982, purchased Capitol Wrestling Corporation Ltd. from his father and other stock holders (Arnold Skaaland, Gorilla Monsoon, and Phil Zacko). The elder McMahon had long since established the northeastern territory as one of the most vibrant members of the NWA. He had long since recognized that professional wrestling was more about entertainment than actual sport. Against his father's wishes, McMahon began an expansion process that fundamentally changed the industry.
The original logo for the company.
The WWF was not the only promotion to have broken ranks with the NWA; the American Wrestling Association (AWA) had long ago ceased being an official NWA member (although like the WWF, they seldom left their own territory). However, neither of the defecting members attempted to undermine the territory system that had been the foundation of the industry for more than half a century. Other promoters were furious when McMahon began syndicating WWF television shows to television stations across the United States, in areas outside of the WWF's traditional northeastern stronghold. McMahon also began selling videotapes of WWF events outside the Northeast through his Coliseum Video distribution company. He effectively broke the unwritten law of regionalism around which the entire industry had been based. To make matters worse, McMahon used the income generated by advertising, television deals, and tape sales to poach talent from rival promoters. Wrestling promoters nationwide were now in direct competition with the WWF. Hulk Hogan, due to his appearance in Rocky III, had a national recognition that few other wrestlers could offer, which is what led McMahon to sign him. Roddy Piper was brought in, as well as Jesse Ventura (although Ventura rarely wrestled in the WWF at that point due to the lung disorder that caused his retirement, moving to the...
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