Since 1987, he has hosted numerous late night television shows, pay-per-view events and home video releases.
Cable providers took a lower profit cut than they normally do for pay-per-view events.
The deal called for six taped pay-per-view events to air every 60 days.
Traditionally, buyers wait until the last minute to purchase pay-per-view events.
The first major pay-per-view event was on September 16, 1981.
From 1993 through 2002, King of the Ring was produced as a pay-per-view event.
There are 18.3 million homes capable of receiving a pay-per-view event.
A majority of the federation's annual revenues, or about $60 million, are derived each year from 12 major pay-per-view events, the company said.
The deal heralded the $100 million gates of today's pay-per-view events.
"But we would certainly be in the hunt for some major fights, especially pay-per-view events."