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aka: Pro Wrestling
TNA currently is WCW had WCW not been bought out by Vince McMahon.
In particular, TNA in 2010-2011 was almost exactly the same as WCW in 1996-1997. Heel turn by Hulk Hogan and his emergence as the leader of a dictatorial faction ( New World Order in WCW, Immortal in TNA), Eric Bischoff as his sycophant, and Sting as the Robin Hood figure who leads a crusade to defeat them both.
Interestingly, TNA usually refuses to acknowledge WWE by name (references are often highly elliptical) even though WWE took on all of WCW's canon as part of its own continuity when it incorporated it.
In fact, we have a similar trope that more specifically covers pro wrestling.
ECW was so great it needed two promotions to fill the void it left. Ring of Honor is the successor to the technical wrestling and Combat Zone Wrestling is the successor to hardcore wrestling. Both promotions run most of their shows in ECW's home venues such as The Arena in Philadelphia and The Manhattan Center in New York. However, they lack the television deal or being the former crown jewel of the NWA, TNA has those two covered.
The UFC is considered by most to be the successor to Pro Wrestling in general, since it follows the same exact model, although lately they have been trying to move away from that stucture.
WWE's World Heavyweight Championship is this to WCW's top title of a similar name and design, which was unified into the WWE Championship months after the "entertainment company"'s purchase of WCW.
alternative title(s): Pro Wrestling