Douglas pulls out of Extreme Rising, starting new company

Shane Douglas and Dr. Mark Keenan (aka Cody Michaels) have pulled out of the Extreme Rising promotion they helped start and are now starting a new company called Classic Wrestling Federation. The group has contacted a number of wrestlers via letter stating they would be looking to work with a Las Vegas casino to produce a weekly television series with the possibility of running house show events. The letter added that they intend to offer base pay, health insurance, 401K retirement plan and profit-sharing for all wrestlers. They also plan to put a percentage of television money into a pension fund for retired wrestlers.

Source: The Wrestling Observer Newsletter