After the Saturday edition of Jerry Lawler's Memphis Wrestling airs, the promotion is closing down. Lawler was working on the project with Joe Cooper, who had secured 12-weeks of advertising for the show. Cooper is also the man that Lawler was going to open a deli up with, but when that didn't happen, they split, and Cooper did not secure further sponsors for the show. Lawler fulfilled the obligations, but informed the wrestlers over the weekend that the project was likely over.

Source: 411Mania
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I never saw an episode. If they had booked Tennessee wrestling legend the "Colorado Kid" Mike Rapada, they would have had WWE Raw ratings...maybe not.