In 1994, Bischoff was promoted from Executive Producer to Senior Vice President, putting him in charge of everything WCW. Dhue resigned, as did event manager Don Sandefeur and junior vice president Jim Barnett. Bischoff convinced Turner executives to better finance WCW in order to compete with the WWF. He moved WCW production to Disney-MGM Studios in Orlando, Florida. Hulk Hogan, who was filming a show called "Thunder in Paradise" at Disney-MGM Studios, was approached by Bischoff and Ric Flair and signed to a contract with WCW. He also invested money in production values and increased the number of WCW pay-per-views (first seven a year, then 10, and then once a month). He also started a weekly live program, "WCW Monday Nitro", that went directly against WWF's flagship "Monday Night Raw". Bischoff remained an announcer on "Nitro", regularly spoiling "Raw" results (as the latter show was not always aired live) to boost ratings. This created what became known amongst fans as the Monday Night Wars, as both WCW and WWF fought for viewers and in the process kick-started a new level of mainstream popularity for pro wrestling. The changes paid off, and in 1995, WCW turned a profit for the first time in the company's history. By 1997, Bischoff's official job title was President of World Championship Wrestling.