He's got enough money that he assuredly could buy any of the existing second-tier companies, although most of them already seem like vanity projects. I guess not TNA, although I really can't imagine Vince going that direction.
If he were to do anything, I think it'd be a new company. I actually do think he could get decent TV of some sort based on his reputation. The bigger question is who he could get to be the lynchpin? Brock?