The January 8th 1996 edition of WWF Raw features the debut of Steve Austin. Austin came into the WWF as "The Ringmaster", the latest addition to The Million Dollar corporation. Austin would go on to become a key player in the Monday Night Wars, so this broadcast of Raw is quite noteworthy. Also on the WWF side, we see another Billionaire Ted skit while Shawn Michaels reveals his status for the 1996 Royal Rumble. 

On Nitro, a huge tag team main event is booked featuring The Mega Powers taking on The Horsemen. Sting is also in action against Diamond Dallas Page, and Eddie Guerrero tries to steal the show once again against Lord Steven Regal.