World Championship Wrestling (WCW) was an American professional wrestling promotion founded by Ted Turner in 1988, after Turner Broadcasting System, through a subsidiary named Universal Wrestling Corporation, purchased the assets of National Wrestling Alliance (NWA) territory Jim Crockett Promotions (JCP) (which had aired its programming on TBS).

For all of its existence, WCW was one of the two top professional wrestling promotions in the United States alongside the World Wrestling Federation (WWF, now WWE), at one point surpassing the latter in terms of popularity. After initial success through utilization of established wrestling stars of the 1980s, the company appointed Eric Bischoff to executive producer of television in 1993. Under Bischoff's leadership, the company enjoyed a period of mainstream success characterized by a shift to reality-based storylines, and notable hirings of former WWF talent. WCW also gained attention for developing a popular cruiserweight division, which showcased an acrobatic, fast-paced, lucha libre-inspired style of wrestling. In 1995, WCW debuted their live flagship television program Monday Nitro, and subsequently developed a ratings competition against the flagship program of the WWF, Monday Night Raw, in a period now known as the Monday Night War. From 1996 to 1998, WCW surpassed their rival program in the ratings for 83 consecutive weeks.

Beginning from the second half of 1999, WCW endured significant losses in ratings and revenue due to creative missteps and popularity takeover by the WWF, and suffered from the fallout of the 2001 merger of America Online (AOL) and Turner Broadcasting parent Time Warner (now Warner Bros. Discovery). Soon thereafter, WCW was shut down, and the WWF purchased select WCW assets in 2001, including its video library, intellectual property (including the WCW name and championships), and some wrestler contracts. The corporate subsidiary, which was retained to deal with legal obligations and reverted to the Universal Wrestling Corporation name, officially became defunct in 2017.

"World Championship Wrestling" was a television show produced by Georgia Championship Wrestling (GCW) since 1982. Jim Barnett (who had briefly owned the Australian promotion of that name) came to Atlanta in the 1970s during an internal struggle for control of GCW. Barnett ultimately became majority owner of the promotion, and began using his previous promotion's name for GCW's weekly Saturday television program in 1982. Following the events that became known as Black Saturday, in which GCW and its television program briefly came under the ownership of the WWF, the promotion was eventually purchased by Charlotte, North Carolina–based Jim Crockett Promotions (JCP), the promoter of the Mid-Atlantic territory immediately north of Georgia.

Influential wrestling magazine Pro Wrestling Illustrated and its sister publications thereafter habitually referred to JCP as "World Championship Wrestling", "WCW" and most commonly "the World Championship area" and continued to do so until early 1988 when it began referring to the company solely as the NWA, reasoning that "it has become apparent that the NWA and the World Championship area are one and the same."

By late 1988, JCP was financially struggling after further territory acquisitions. Ted Turner, the namesake principal owner of Turner Broadcasting System, formed a new subsidiary in October 1988 to acquire most of the assets of JCP. The acquisition was completed on November 2, 1988. While initially the subsidiary was incorporated as the "Universal Wrestling Corporation", following the purchase the decision was made to utilize the familiar "World Championship Wrestling" as the name for the promotion.

In late Summer/early Autumn 1993, a behind-the-scenes dispute between WCW and the NWA Board of Directors over who had the right to authorize NWA World Heavyweight Championship title changes ultimately resulted in WCW formally withdrawing from the NWA and becoming a standalone wrestling promotion.

In February 1993 former commentator Eric Bischoff was appointed as Executive Producer of WCW, and by 1994 he had been promoted once again to Senior Vice President, a position which gave Bischoff both creative and financial control of WCW. At this point, the promotion was struggling financially and was widely perceived within the wrestling industry to be at a low ebb. To counter this, Bischoff felt that WCW was in need of radical reform; to this end, Bischoff sought to modernise WCW and move its image away from that of a Southern-based "rasslin" company. To achieve this, Bischoff increased WCW's production values, avoided unprofitable house shows, increased the number of WCW pay-per-views (PPVs, which were profitable), decreased the number of Southern accents on commentary, and began recruiting top stars away from the World Wrestling Federation (WWF). This led to marquee names such as Hulk Hogan and "The Macho Man" Randy Savage joining WCW's ranks and helping to supplement its business.