Eric Aaron Bischoff (born May 27, 1955) is an American entrepreneur, television producer, professional wrestling booker, on-screen personality, occasional wrestler and retired amateur wrestler. He is best known for serving as Executive Producer and later President of World Championship Wrestling (WCW) and subsequently, the General Manager of World Wrestling Entertainment's Raw brand. Bischoff has also worked with Total Nonstop Action Wrestling (TNA) where he served as Executive Producer of Impact Wrestling. With an amateur background in taekwondo, Bischoff also sporadically performed as an in-ring competitor, and is a former WCW Hardcore Champion.
Downfall of WCW
When WWF rebranded their product as "WWF Attitude" and began to focus on new superstars such as Stone Cold Steve Austin, Mick Foley, and The Rock, and made longtime announcer Vince McMahon into a character, this eventually resulted in a ratings turnaround for WWF. On April 13, 1998, WWF finally ended WCW's year and a half run on top of the ratings war. Despite losing in the ratings to WWF, WCW continued to post strong ratings, attendance, and PPV buyrates throughout 1998. In 1998 WCW built one of its first homegrown superstars in Bill Goldberg, and gave him the WCW World Heavyweight Championship on July 6, 1998 at the Georgia Dome in front of 39,919 people on Nitro.  In early 1999, Eric Bischoff promoted Kevin Nash to head booker. Despite Bill Goldberg drawing at the box office and doing three shows in December/January that did nearly a $1,000,000 gate, the decision was made to end Bill Goldberg's undefeated streak and put the belt on Kevin Nash. On the January 4 Nitro, at the Georgia Dome, Kevin Nash dropped the title to Hollywood Hogan in a match that became known as the Fingerpoke of Doom, and the nWo was rebranded. By March ratings began dropping, and WCW began experiencing an endless streak of ratings losses.  Throughout 1999, Eric Bischoff reverted to focusing back completely around aging WCW stars in their 40's such as Hollywood Hogan, Diamond Dallas Page, Randy Savage, Sting, Rowdy Roddy Piper, Kevin Nash, Ric Flair, and Sid Vicious. In an effort to improve ratings, WCW also began to focus heavily on several celebrities such as Master P., Chad Brock, Megadeth, Dennis Rodman, and Kiss. One of the last deals Eric Bischoff structured was a deal with the members of the rock band Kiss to have their own wrestling character known as The Kiss Demon.  By late 1999, WCW began losing around five million dollars a month. Attendance, PPV buys and ratings were down significantly. On September 10, 1999, the decision was made to relieve Eric Bischoff of power.

Q: what was the downlfall
A: By late 1999, WCW began losing around five million dollars a month. Attendance, PPV buys and ratings were down significantly.

Q: Why were they loosing money
A: On April 13, 1998, WWF finally ended WCW's year and a half run on top of the ratings war.

Q: Who took over
A: unknown
did bischoff run the wcw
On September 10, 1999, the decision was made to relieve Eric Bischoff of power.
On September 10, 1999, the decision was made to relieve Eric Bischoff of power.