control over time slots on TNT and TBS networks, regardless of whether these slots would show WCW programming or not. This influenced Kellner's decision to ultimately cancel WCW programming. WCW's losses were then written-off via purchase accounting; according to Evans: "in the post-merger environment, the new conglomerate was able to 'write down' money losing operations, essentially eliminating those losses because of their irrelevancy moving forward." Acquisition by the World Wrestling Federation and aftermath On March 23, 2001, all of WCW's trademarks and archived video library, as well as a select twenty-four contracts, were sold to Vince McMahon and World Wrestling Federation Entertainment, Inc. through its subsidiary, WCW, Inc. WCW's intangible properties were purchased for $3 million. Most of the main event-level stars including Ric Flair, Goldberg, Kevin Nash, and Sting were contracted directly to parent company AOL Time Warner instead of WCW, and thus AOL Time Warner was forced to continue to pay many of the wrestlers for years. The company's legal name reverted to Universal Wrestling Corporation; it would remain listed as a subsidiary of Time Warner until December 16, 2017, when it was merged into Turner Broadcasting System. TNT aired the final Nitro episode from Panama City Beach, Florida which had been scheduled for the following Monday on March 26. McMahon opened the last-ever episode of WCW Monday Nitro with a simulcast with WWF Monday Night Raw, which aired from Cleveland, Ohio. The final WCW World Heavyweight Championship match for the show and the company saw WCW United States Heavyweight Champion Booker T defeat Scott Steiner to win the WCW World Heavyweight Championship. The main event featured Sting defeating Ric Flair with the Scorpion Deathlock as a culmination of their trademark feud, then both men embraced one another at the match's conclusion. This was a direct parallel to the very first Nitro episode, where Sting vs. Flair was also featured. After the Sting/Flair match, Vince appeared on Raw to close Nitro and to declare victory over WCW. Vince's son Shane McMahon then appeared on Nitro, declaring that it was actually he who had bought WCW. This initiated a storyline in which Shane led a WCW invasion of the WWF. The last WCW broadcast was the already-taped final episode of WCW WorldWide which aired in syndication six days after the final Nitro broadcast (one day before WrestleMania X-Seven, although several stations aired it in the early hours of the