During their partnership, they were credited with numerous storylines that led to increased television ratings for the WWF. However, their mentality of constantly keeping viewers guessing led to numerous swerves and heel and babyface turns, often without much explanation. Ferrara is also reportedly behind the Beaver Cleavage storyline, which was about the incestuous relationship between a mother and son. Eventually, the combined stress of working with Vince McMahon and the addition of another weekly two-hour show (WWF SmackDown!) led to Ferrara and Russo's departure from the WWF. Both writers began working almost immediately with the WWF's main competitor, World Championship Wrestling.
In 1999 in WCW, he took the onscreen name of Oklahoma and began copying WWF announcer Jim Ross, and also mimicking his Bell's Palsy. He had previously done an impersonation of Ross in the WWF during an angle with Tiger Ali Singh where he was called from the audience as a fan and did his Ross impression. Jim Cornette would later spit in his face and challenge him to a fight for making fun of his long time friend, Jim Ross. He defeated Madusa for the Cruiserweight Title. The character was considered by most as distasteful and nothing more than a means for Russo and Ferrara to put their own grievances on the air. Ross has since reconciled with Ferrara following an open letter to him.
Their initial stint was epitomized by the reintroduction of the NWO after months of storylines which ultimately saw Bret Hart win the world title at the expense of his arch nemesis Goldberg. However, both Bret Hart and Goldberg got injured a few days prior to a major WCW pay-per-view. This, along with the decision to put the title on Tank Abbott, cost both Vince Russo and Ed Ferrara their creative independence and led to the hierarchy at WCW to form a booking committee which consisted of former bookers including Kevin Sullivan, Kevin Nash, JJ Dillon and Bob Mould. This would also mark the beginning of the end for the friendship between Vince Russo and Ed Ferrara who both took opposing positions. Vince Russo refused to work in the booking committee as he felt he was jobbed out by the backstage politics of the company whilst Ed Ferrara decided he would stay on as he had just relocated his entire family to Atlanta and so felt compelled to continue his work as a writer. This would be the last time Vince Russo and Ed Ferrara would willingly work with one another in a wrestling environment.
The success of the booking committee was limited at best. Ratings had plummeted and WCW was in a state of disrepair. The new committee also led to the mass exodus of the most promising mid-card wrestlers in the company. Now known as The Radicalz, Benoit, Dean Malenko, Eddie Guerrero and Perry Saturn all walked out of WCW as Kevin Sullivan stated he had no plans to use them on subsequent programming. It was rumored that 17 wrestlers had asked for their release that night but only 5 of them got their successful release (this included Shane Douglas but he would return in April of that year). Within 2 months the booking committee was disbanded and in a desperate attempt to salvage their ailing product WCW hired back the 2 men who they thought could help their product, Vince Russo and Eric Bischoff. This led to Ed Ferrara getting demoted to a road agent position which he later said in an interview "was the best demotion I ever had".
He did voiceovers that played over the intercom when non-English speaking La Parka was doing interviews, often getting La Parka in trouble with his opponents with the comments he created over the intercom.
After WCW folded, he did commentary on Total Nonstop Action Wrestling weekly Pay-Per-Views alongside Mike Tenay and Don West when the company started, where he battled with Don West for the Color Commentator position, but TNA chose Don West, and Ferrara left shortly after.