Moving back to the USA network is a good start. Bringing back many of the great legends is even better, but still it isn't enough. There has to be a plan that includes bringing back the wrestling fans who left without losing the ones watching now in the transition. One week with a 1.9 share and the WWE will be gone even if the following week it could have gone to a 8 or 9 share. So, this is how it should play out.

Cena and the Undertaker should be scheduled to face one another. The Undertaker should be the heel. He doesn't show. In the beginning of RAW, Ross or Lawler opens saying that the Undertaker hasn't shown and that Carlito will be taking his place.
During the match, the viewers at home can see that something is going on but can't quite make out what it is. Then Cena and Carlito stop fighting and outside the ring stands Vince in front of many of the legends, including the Taker. To his right stands Piper, Muraco, Valentine, Orton Jr., and to his left stands the Taker, Flair, and HBK. Vince then announces, "I'm sick of losing money. Say hello to your new bosses." And then he throws the mic down and Piper picks it up.
Carlito seems unmoved. He smiles and nods, "Hi Boss."
Cena doesn't like the idea.
Piper then says how Cena does not deserve the title and that Randy Orton is now moving to RAW and has been crowned champion. Carlito nods, "that sounds fair."
Of course, Cena is up in arms. Randy comes out and is declared champion by his father. Now, he is their golden boy. He gets easy matches, and when he is in trouble the heels run out to help him. Poof, an alliance of the heels.

The good guys are getting pissed off. They want their shot and they're not getting it because the system is corrupt. Hell even Cena could be saved. He could say something along the lines of (and in a normal tone of voice),"That's it. No more gimmicks. No more rapping! This is serious. This is about saving our very sport and the people in back don't give a damn about it. All they want is to keep their boy Orton in the limelight. Well, they're not taking wrestling away from me or the fans without a fight!"
All the good guys rush to the ring in agreement and poof, a good guy alliance is formed and Cena is still on top, so those who are watching now won't leave.

The bad guys kiss up to the new bosses and there has to be a legitimately stupid good guy. Merely because of his size, and the fact that I've seen him be amusing before, I'd go with the Big Show or Kane (as long as Kane was wearing the mask). He should be confused about how to kiss up and send flowers or candy. One of the bosses should like it but the rest are getting sick of him. Maybe, he's losing matches or is just not pulling his weight, so let's say Muraco takes a liking to Kane and feels badly for him while the other bosses are ready to kick him out of the federaton. Well, Muraco stands up for Kane, he becomes the protector, and then poof we have a great colorful manager, and a face that will be cheered for.

Soon enough, Vince comes back and wants his federation back and of course the bosses adamently refuse, and yet another war with Vince on the side of faces.

This would be the best thing for wrestling and the storylines can continue for ions.