What if WWE never bought WCW?

The results of WWE buying WCW were mixed
The results of WWE buying WCW were mixed

#4 No TNA

Jeff Jarrett
Jeff Jarrett wouldn't have had the same motivating factors to start TNA if WWE hadn't bought WCW

Jeff Jarrett was the spark plug behind founding Total Non-Stop Action—the TNA company that grew into Impact Wrestling. Some of that has to do with an entrepreneurial and arguably a sense of wrestling traditionalism not represented in WWE at the time.

Some of it is about Jarrett himself.

Jarrett had burned bridges with WWE, reportedly holding them up for money on his way out the door in order to drop the Intercontinental Championship to Chyna. So, he in large part had a choice between starting his own promotion or working the remainder of his career in relative obscurity, trying to find bookings with big independents and on the international scene.

Had WWE specifically not bought out WCW, the company probably would have shrunken to a smaller scale, but nonetheless survived in some way shape or form. With that, Jarrett would still have a high profile place where he could work (and was already positioned around the main event) and thus wouldn’t have been driven to found TNA.