Bischoff also spoke about the public backlash regarding WWE's decision to bring "The Hulkster" back into the fold.
"I was really happy when I got the news because I know how much it means to him," said Bischoff. "We've discussed the potential of this scenario for a long time."
Bischoff continued, "You're going to have haters no matter what you do. You could cure every disease known to man and, still, someone's going to hate you. But I don't think people value that kind of negative input as much as they used to because people recognize it for what it is, and that's people who want to be noisy and get attention."
The former WCW executive also gave his thoughts on what it meant for Hogan not to be in the WWE Hall Of Fame and how important it is to him now that he is back.
"Professional wrestling, the WWE, and being in the Hall of Fame represent such a large part of Hulk's life, as does his connection to the audience," said Bischoff. "For that to not be there for him, it hurt. So I think the news is great for Hulk as a person and for wrestling fans. To many generations of fans, Hulk Hogan really represents the beginning of what became this amazing industry that we have."
Check out the complete Eric Bischoff interview at SI.com.