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Besides what Lock Jaw said, another reason is because management actually disliked the creative style used during the Attitude Era and Hogan Era.
Vince/WWE probably figures if they control everything, then nobody can ever be bigger than the brand and never have to worry about another WCW-like threat from ever happening again.
If someone tries to get over big time without the WWE's direct involvement, either that gets squashed or WWE quickly takes complete control so they can claim all the credit.
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