TMZ.COM is reporting that Spike TV has canceled Impact Wrestling, leaving TNA without a home come October of this year and putting the company in serious jeopardy.

The popular website said that multiple sources with direct knowledge of the deal informed them that Spike TV executives made the call to TNA President Dixie Carter last week to tell her the news and Carter told some members of her staff about it on Friday, although Wrestling Observer says that Carter told them that it was they who are quitting Spike and not the other way round.

Spike pays for a big bulk of the production for Impact tapings and without that money the company simply cannot afford to hold the events. USA Network has a similar deal with WWE where the company bites the production budget in return of getting advertising money during RAW.

TNA jumped to Spike TV in late 2005 after WWE quit Spike to return to USA Network and Impact Wrestling has been drawing around 1 to 1.2 million viewers every week. A few years ago they tried an experiment hosting Impact live head to head against RAW however common sense prevailed after a few weeks and the decision to put Impact back on Thursdays was taken to avoid further embarrassment.

There is still no official word from both Spike or TNA regarding the cancellation of Impact.