The timeline of events below are taken from the archives of Wrestling-Online.com and Wrestling-Online Newsletter. All information was accurate at time of the date stamps below.
November 2, 2013
҂ PWInsider.com is reporting that Janice Carter, Dixie Carter’s mother and one of the bosses and owners at TNA’s parent company Panda Energy, has issued an internal memo to address the rumors of TNA being for sale. The memo states that any rumors of Panda Energy attempting to offload their stake in the company are completely false and that they are committed to continue their operations with TNA. Janice Carter has lately taken over roles within the organization from her husband Robert Carter.
April 18, 2016
҂ The rumors floating around are that TNA Wrestling is just about to sell a stake to Aroluxe, a web development, advertising agency, and marketing consultants company based out of Brentwood, Tennessee. Two of the executives of Aroluxe are Ron and Don Harris, the former WWE, WCW, and TNA tag team. The unclear question is if this sale will be a minority one or a majority stake and there could be some big changes if the sale is a majority one. The news about the company behind the potential sale was broken by WrestlingObserver.com with Dave Meltzer reporting that Aroluxe paid for the last set of tapings as TNA’s financial situation is pretty bad. Meltzer adds that Dixie Carter, the current TNA President, still wants a controlling stake in the company which would mean she remains the ultimate decision maker. Dixie Carter’s family purchased a 71% controlling interest in TNA Wrestling through their Panda Energy International company back in 2002. In 2015, Jeff Jarrett sold his remaining stake in TNA to Panda Energy.
҂ In addition to Wrestling Observer’s report earlier today regarding the sale of TNA, PWInsider.com added more details to the story, a story which might spell the end of Dixie Carter’s reign in TNA. The agreement between TNA and the Tennessee-based company Aroluxe started in January of this year with Aroluxe pumping in the money for TNA tapings and TNA then paying back those costs plus their service fee. Aroluxe has been in charge of doing a lot of production for TNA and according to PWInsider.com, based on TNA’s contract with Aroluxe, if TNA doesn’t pay on time these fees Aeroluxe would then be legally able to take over the company. A payment from TNA is due this week and judging by history, TNA isn’t always on time when it comes to payments. The company has been in dire need of money for a couple of years now and came close to going bankrupt multiple times, only for new TV deals and International distribution to kick in and save them. “So, where things stand based on what we have heard appear to be going in one of two directions – TNA reimburses Aroluxe and things remain at their status quo or Aroluxe takes over the reigns of the company,” Mike Johnson wrote.
June 13, 2016
҂ PWInsider.com is reporting – citing multiple sources – that Billy Corgan is in the final stages of purchasing a minority stake in TNA Wrestling. The 49 year old frontman of The Smashing Pumpkins currently holds the position of Senior Producer of Creative and Talent Development for TNA, a position he held since joining the company in mid 2015. Corgan’s stake will not change the major decisions as it relates to TNA business as Dixie Carter still holds the majority, however he will have a bigger say than he currently does. PWInsider did not say what percentage of the company he bought. Billy Corgan is a life-long wrestling fan and in 2011 he founded Resistance Pro Wrestling, an indie wrestling group based in Chicago. TNA has been in big financial problems for quite a while and recently the company has been looking for an injection of cash to keep it floating.
June 14, 2016
҂ In a post first revealed by PWInsider.com, TNA Chief Financial Officer Dean Broadhead wrote on his personal Facebook page that TNA nearly went dark this weekend as the company had zero money to pay for the production trucks for Slammiversary or the tapings this week. Broadhead wrote that in a 12 hour window he had to make over 80 phone calls to lawyers, bankers, employees, and everyone in between to try and secure some money to go ahead with the show. The company which does the production for TNA, Aroluxe, is owed several thousands of dollars from previous unpaid television tapings and were not ready to go ahead with the show unless they were paid. Several weeks ago Aroluxe was revealed as the company in pole position for a TNA takeover. Two of its employees are Ron and Don Harris, former WWE and TNA tag team. It seems that Billy Corgan was the one who bailed them out this time, purchasing a minority stake in the company and allowing the life support machine to keep going. Meanwhile a promoter from Bethlehem, Pennsylvania, wrote on TNA’s Facebook page that he has yet to be paid for the January shows and media vendors were running after him to get paid. ”I don’t know who else to contact or reach out to. Dean (Broadhead) will not communicate with me and I am being held responsible for this mess,” Rick Schoenen wrote. He updated the post today saying that finally someone got in touch with him after posting his complaint publicly on Facebook.
September 9, 2016
҂ During a Facebook Live broadcast yesterday, new TNA President Billy Corgan announced that he is currently in negotiations to purchase TNA Wrestling from the other stakeholders which include Dixie Carter and Aroluxe Productions. Noting that the process is a bit complicated, he hoped that soon he will be able to run the company completely, both when it comes to the business side as well as the creative side. Corgan took over Dixie Carter’s role last month after pumping in more money to keep the company afloat after it was evident that Carter could no longer support it. The Smashing Pumpkins frontman is no stranger in running a wrestling company as in 2011 he founded and ran Resistance Pro Wrestling, a Chicago-based indie promotion. He moved to TNA in April 2015 as the Senior Producer of Creative and Talent Development before getting promoted to President a year later.
September 17, 2016
҂ A story by the New York Post yesterday valued TNA “at around $40 million,” a figure which couldn’t be more farther than the truth. The story revolves around Smashing Pumpkins front man and current TNA President making his bid to buy 100% of the company, although Corgan did not want to reveal the price tag put on TNA. Corgan told the NY Post that at the Bound For Glory pay-per-view, he hopes to make some sort of announcement. “I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going,” he said. The New York Post also added that both WWE and Sinclair Broadcast Group, which owns Ring of Honor, are rumored that have made bids to buy TNA. WWE already bought WCW and ECW and own several other video libraries which come in handy for the WWE Network. WWE bought WCW for around $4 million back in 2001. TNA is owned by Dixie Carter, Billy Corgan, and Aroluxe Marketing while other companies have smaller stake.
September 27, 2016
҂ This week could be a very interesting one for TNA and the world of professional wrestling as there are strong rumors that TNA is on the brink with the clock ticking down and fast. Carter’s majority ownership could be well over before Bound For Glory occurs this weekend and if it doesn’t, there could be some serious problems going forward, mainly financial. Mike Johnson over at PWInsider.com is reporting that Carter, who has already stepped down as TNA President, has held talks with WWE over a probable sale as the future with her in charge look bleak. Carter, as the largest owner of TNA, calls the shots and coughs up the money but there are those who are saying that TNA has no money to put up this Sunday’s Bound For Glory pay-per-view. Their current President, Billy Corgan, can pay, but he has no majority ownership and he’s been pushing to have 100% stake in the company. Corgan already dug TNA out of a hole earlier this year when he financed several television tapings and got the role of TNA President in return. TNA’s production company Aroluxe often don’t get paid and the lack of payments eventually landed them a minority stake in TNA. Aroluxe had a deal where they could buy the company but that exclusive deal expired. Apart from the live Bound For Glory pay-per-view, TNA also has days worth of television tapings that will follow so money is not only needed for BFG, but for the tapings as well. If somehow TNA manages to survive and enough money is secured to produce Bound For Glory, there could be reruns or other type of programming instead of fresh television tapings while more funding is received, although that would not be ideal. Will Corgan save the show and gets complete ownership of TNA? Or will Dixie Carter sell to someone else, like WWE? Carter has been reluctant to give up her stake in the company but it looks like this time around there’s no saving her.
҂ A potential TNA sale to WWE would send shockwaves again, maybe not as much as when WWE bought WCW back in 2001, but regardless, it would be major news for the industry. TNA’s biggest asset is certainly their video library, with over 10 years worth of footage. With the WWE Network running at full speed, adding a few thousand of more hours to the platform would be a big win for WWE, and eventually the fans. Unfortunately, if WWE does indeed buy TNA, TNA would be shut down pretty much immediately. What would happen to its big stars would be interesting. Those such as Jeff Hardy, Matt Hardy, Drew Galloway, EC3, Lashley, Aron Rex, and others all left WWE to work for their rivals. Cody Rhodes and his wife Brandi have signed last week as well. When WWE purchased WCW, they carried over some of the deals of certain wrestlers as well. They did not include any of their top stars as the preferred to wait out till the deal expires, getting paid to stay at home doing nothing. Perhaps the biggest winner of them all would be NXT which would no doubt see an influx of talent arriving. And with Raw and Smackdown now separate, adding more talent to the roster would not hurt either. WWE bought WCW for around $4 million and their pay-per-view and television library was far more vast and deep than that of TNA. WCW also had some worthy intellectual property which WWE benefited from, something that TNA severely lacks. By no means WWE is certainly buying TNA. Billy Corgan could eventually pull a rabbit out of the hat and manages to convince Dixie Carter to sell him everything in return of financing Bound For Glory and the subsequent television tapings. There are pros and cons to both scenarios but a WWE sale would mean a lot of people would be losing their jobs and no alternative for those who want to escape WWE land. A Billy Corgan sale would mean that TNA survives another day, but in the long term, without some serious financing, they will find themselves in the same position down the road.
҂ TNA has seven days booked for television tapings at Universal Studios in Orlando next week as the company will be occupying their usual studio lot from October 2 to October 8. Whether that happens or not remains to be seen though as even Bound For Glory, set for this Sunday, is in limbo following massive financial difficulties the company is encountering at the moment. Failure to present Bound For Glory will provide additional problems for TNA as this is a pay-per-view and is bound by contract with International providers as well. After Bound For Glory on October 2, TNA has set tapings from Monday to Saturday, with some tapings for Impact as well as One Night Only and other shows that are distributed around the globe. All shows are expected to start at 6PM EST. TNA came close to shutting down in June of this year after they had no money to pay for the June tapings. TNA Chief Financial Officer Dean Broadhead wrote on his Facebook page at the time that in a 12-hour window he had to make over 80 phone calls to lawyers, bankers, employees, and everyone in between to try and secure some money to go ahead with the shows. It was current TNA President Billy Corgan who came up with the cash, enabling TNA to continue its run of tapings and averting disaster.
September 28, 2016
҂ During an appearance on the Busted Open radio show today on SiriusXM, TNA President Billy Corgan said that while he has the money to make sure Bound For Glory takes place, he doesn’t want to do it if in a few months down the line they will be in the same situation. From the way he was speaking, while not outright saying it, he was suggesting that he would not be fronting any money unless he takes over TNA completely. This is certainly not good news for the company as it gives Dixie Carter a few days only to try and find a source of cash to go on with Bound For Glory. Corgan said that he was the one who funded the last three rounds of television tapings and it all went down to the wire. Corgan said that he spoke with most of the TNA talent as well as with POP TV President Bradley Schwartz to outline his vision of what he wants for TNA. His plan all boils down to Dixie Carter selling and buying out Aeroluxe’s share. Aeroluxe does all the production for TNA and since they didn’t get paid, they got a minority stake in the company. The Smashing Pumpkins frontman also said that he will be in Orlando this Sunday, probably trying to save TNA till the very last second possible.
September 29, 2016
҂ Dave Meltzer of the Wrestling Observer is reporting that WWE offered “very little” to purchase TNA’s video library and is believed that the company wants no-compete clauses for a period with the owners if a sale is to go through. A no-compete clause would not allow any of the owners to re-enter the wrestling business with the money they received from the sale for a specified amount of time. WWE – on average – pays around $500 for an hour of footage when purchasing other tape libraries. It’s not known how much money WWE offered for the TNA library which dates back to 2002. Meltzer also adds that John Gaburick, the Executive Vice President of Television Production for TNA was the one who got WWE into play. Gaburick worked for WWE for several years before departing in 2013.
October 1, 2016
҂ An unknown third party investor has come in to save the week for TNA Wrestling as the New York Post is reporting that the company has secured enough cash yesterday to go ahead with Bound For Glory and a week-full of television tapings. The Post said that TNA spent much of the week negotiating between WWE and Billy Corgan for cash to proceed with their biggest pay-per-view of the year however sources say that the cash came from someone who is not either of those two. The same sources added that TNA is expected to resume talks with both WWE and Corgan about the sale. When the New York Post reached out to WWE for comment, the company declined to talk about it.
҂ TNA Chairman and Chief Strategy Officer Dixie Carter refused to comment online regarding all the rumors of an imminent sale of TNA, saying on Twitter that she doesn’t make it a habit to reply to speculations. Carter holds all the power in the sale as a majority shareholder, with Billy Corgan and production company Aroluxe serving as minority owners. Carter has been dealing with both WWE and Corgan for the sale according to several industry insiders and there are two different outcomes with both parties should she choose to sell. If Billy Corgan gets TNA, then business resumes as normal although he already said that he would be changing the name. Corgan made several cash injections in TNA and clearly stated he won’t put in more money unless he’s given total control. If WWE gets it, the tape library will be the most important, along with a few contracts of TNA talent. The company would immediately cease to exist once WWE takes over, similar to what happened to WCW. Carter also told fans that if they’re close to the Orlando area, they shouldn’t miss these upcoming television tapings that will run from Sunday’s PPV to the following Saturday.
October 2, 2016
҂ TNA’s tumultuous week wraps up tonight with the Bound For Glory pay-per-view, a pay-per-view which came very, very close of not happening due to lack of funds. A mystery third-party investor injected enough money in TNA’s accounts to keep Bound For Glory alive along with a week-long of television tapings in Orlando that will take the company towards the end of 2016. The bad situation that TNA finds itself in however is far from over. While there’s enough money to cover tonight and next week, TNA must either find a long-term investor or go for a full sale if it wants to stay alive. Staying alive means the sale cannot be done to WWE as WWE would kill off the company faster than they did to WCW. A meeting is being held today at Universal between TNA management and probably talent as well to discuss the future of the company. Billy Corgan, TNA President, was open all week about the bad situation TNA is in and made it no secret that he wants full control of the company before he invests more of his own money. The New York Post reported yesterday that Dixie Carter will resume talks with both Corgan and WWE about the sale next week after Bound For Glory is over.
October 4, 2016
҂ Mike Johnson of PWInsider.com is reporting that Dixie Carter held a meeting with the TNA locker room last night before the start of the week-long Impact tapings in Orlando. Carter admitted that WWE is interested in purchasing the company when someone brought up the question but said she would “not let that happen” although she could if she wants to. The former TNA President, who still is the majority owner of the company, said that TNA still owns the tape library and they did not sell it to WWE. Last week when the New York Post went fishing for a comment from WWE regarding the rumors, a WWE spokesman refused to give a comment. Perhaps one of the most interesting, if not the most interesting, thing that came out of the meeting is that Carter also acknowledged that there have been disagreements and even in-fighting between the several minority owners of the company as power struggles continue to dominate the difficult period that TNA is going through. The New York Post said that Carter will be resuming her negotiations for the sale this week, including further talks with WWE.
October 10, 2016
҂ TNA wrapped up their week-long Impact tapings yesterday at the Impact Zone in Universal Studios in Orlando, Florida. The tapings were supposed to finish on Saturday however Hurricane Matthew disrupted some tapings and TNA had to add two tapings on Sunday to make up for the lost days. The tapings, along with the Bound For Glory pay-per-view, were at the risk of not taking place due to lack of funds but a mystery third-party injected enough funds in the company to keep it afloat for another week. According to sources, neither Billy Corgan nor WWE financed the tapings. Both parties are in negotiations to take over TNA, with WWE interested in the video library and the name while Corgan is interested in taking over the rest and rebooting the company under a brand new name. All these tapings held during the past week will take TNA television through the end of 2016 and there are no more tapings scheduled. New tapings will depend whether Dixie Carter, as majority owner, keeps the company around. If she sells TNA and splits it between WWE and Corgan, these will be the last tapings under the TNA name.
October 13, 2016
҂ PWInsider.com broke the news today that TNA President Billy Corgan has filed a lawsuit against TNA Impact Wrestling, its parent company Impact Ventures LLC, TNA Chairman Dixie Carter, TNA Chief Financial Officer Dean Broadhead and Dixie Carter’s husband Serg Salinas. The lawsuit was filed today, October 13, at the Chancery Court of Nashville, Tennessee. It’s not clear what Corgan is asking for in the lawsuit yet as documents have not been made public. The Smashing Pumpkins frontman has pumped in a lot of his personal money to keep TNA afloat, first saving them in June of this year and then frequently putting in more cash up until the Bound For Glory week. With his financial contribution, Corgan acquired a minority stake in TNA and was named President, replacing Dixie Carter who was then named as Chairman. Corgan has made no secret that he wants to buy TNA but Carter is playing hardball. He refused to put in more money leading up to the Bound For Glory weekend and subsequent Impact television tapings and TNA were left empty handed, requiring the save of a mystery third-party who made a cash injection in the last minute which enabled TNA to go ahead with the pay-per-view and six days worth of tapings. Carter acknowledged that there had been some fighting behind the scenes between the minority owners of the company and herself over the ownership but nothing was solved after spending a whole week together in Orlando for the tapings. The TNA Chairman also revealed that WWE is in play to purchase the TNA video library which would effectively kill the company.
҂ A few more details from Billy Corgan’s lawsuit against TNA have surfaced although there is not much since the documents have been sealed by the judge. Corgan apparently filed a restraining order, which was approved, and while it doesn’t say what or who it is for, it’s probably a restraining order to prevent Dixie Carter from completing a sale of the company behind his back. PWInsider adds that a temporary injunction hearing has been set for October 20 in the morning and in his lawsuit, Corgan is asking for a six-person jury to hear the case. Corgan, along with another minority owner Aroluxe, are owed hundreds of thousands of dollars, and some say even millions, by the company. The sale is a messy affair which will leave a few unhappy people unless they get it their way. There was a plan to sell the TNA video library to WWE and then the rest of the company to Billy Corgan, who would then start fresh under a new name with the same talent.
October 14, 2016
҂ It has surfaced that Audience Of One Productions also sued TNA at the end of September along with Chief Financial Officer Dean Broadhead and Aroluxe Marketing for unpaid production services which total $222,123.43. The lawsuit also seeks secured interest, pre and post-judgment interest, attorney fees, and all costs related to the lawsuit. The lawsuit states that in Spring of 2015, AO1 entered into discussions about a possible long-term, multi-event, production services agreement, pursuant to which AOl would provide a variety of production services for live TNA events, including audio/visual and broadcasting work, lighting, set construction and breakdown. The production services where originally handled by Aroluxe, headed up by former TNA and WWE tag team Ron and Don Harris, and the lawsuit says that TNA, specifically Dean Broadhead, was not happy with the services that Aroluxe was providing. Broadhead told AO1 that they would answer to him and not Aroluxe and on June 15, 2015, TNA and AO1 entered into a contract for at least two TNA events at Universal Studios in Orlando. Following a successful partnership for these two events, TNA contracted AO1 to provide production services for the Bound for Glory pay-per-view. “TNA was apparently in dire financial straits at the time of these negotiations, with reports in the media suggesting that, among other financial woes, TNA was behind on paying some of its key “talent,” i.e., wrestling personnel,” the lawsuit stated. AO1 sent TNA a final invoice of $288,930.04, however Dean Broadhead told the company that TNA was trying to close a new TV deal and would be paying after the deal is done. “We are planning to go back into Universal Studios in 2016 and get back on the right track with our production. Please, please hang in there with us. We will come out of these difficult times in a much better position as a company and a partner,” Broadhead told AO1. The payment was never done and AO1 invoiced TNA $293,263.99, which included a 1.5% late payment fee. After receiving the new invoice, Broadhead came up with a payment plan where TNA would pay the company $35,875 per month. After initial payments were made, AO1 stopped receiving the money they were owed, which led to this lawsuit. The lawsuit was filed in the District Court for the Eastern District of Virginia.
҂ It seems like that the company who funded TNA’s latest round of tapings along with Bound For Glory carries the name of MCC Acquisition Corp. According to the Uniform Commercial Code documents filed with the Tennessee Secretary of State, TNA’s parent company Impact Ventures entered into this debt with the company on September 30, a week before Bound For Glory was set to take place. The registered address for MCC Acquisition Corp is listed at 171 East Liberty Street in Toronto, Canada, the same address of Anthem Sports & Entertainment, the parent company of The Fight Network. The Fight Network signed a multi-year deal with TNA last year to broadcast Impact, Xplosion, and Greatest Matches in Canada. We have reached out to The Fight Network for comment on the story and will update if a reply is received.
October 15, 2016
҂ Dave Meltzer of the Observer is reporting that TNA has amassed a total of $3.4 million in debt which is owed to Aroluxe Marketing, Anthem Sports & Entertainment, and its subsidiary MCC Acquisitions Corp. Meltzer also adds that Carter has already sold some of its tape library to Anthem Sports & Entertainment to make up for a part of its debt. Anthem is the parent company of The Fight Network, the channel which airs TNA in Canada. With some of its tape library already sold, WWE is unlikely to “go for the kill” now as they would not get complete control of the only prestigious thing TNA has as an asset. It’s not known what parts of the library has already been transferred to Anthem Sports & Entertainment. Meanwhile, freelance writer David Bixenspan has discovered that the Davidson County Register of Deeds and the State of Tennessee has issued a tax lien against TNA on September 8 for back taxes that the company never paid. The state now has the right to seize control of any property that TNA owns if the taxes aren’t paid.
October 19, 2016
҂ A third lawsuit against TNA has been revealed and Dave Meltzer of the Observer is reporting that American Express, through their American Express Travel Related Services Company, Inc, sued TNA’s parent company for unpaid travel expenses. The lawsuit was filed on July 20 in the Supreme Court of New York and claims that TNA owes them a total of $269,049.50 in travel related expenses. TNA’s travel department used the company’s American Express Corporate account to charge various items and never paid those charges back. According to the lawsuit, just like the one similar filed by Audience Of One, TNA agreed to repay the debt with monthly payments and even agreed to pay court costs if the two parties ever went to court, however no monthly payment was done. American Express is now seeking to reclaim the $269,049.50 as well all legal costs related to the lawsuit.
October 20, 2016
҂ Anthem Sports & Entertainment Corp., the parent company of Fight Network, issued a statement yesterday confirming the recent cash injection in TNA, funding the Bound For Glory pay-per-view and subsequent television tapings that took place for a week after the PPV. “Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company,” the statement said. Their acknowledgment of repaying the money that TNA President Billy Corgan made over the last several months is a clear indication that Corgan is nowhere close of getting the company and with that wording it looks like Carter is not even considering selling the company to him. “TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth,” said Leonard Asper, CEO of Anthem. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content.” TNA has wrapped up filming Impact for this year and has TV covered up until the end of 2016. The next set of tapings – if the company is still alive by then – will have to be done in the first week of January 2017.
҂ The court hearing for the lawsuit filed by Billy Corgan against TNA and a few other individuals has been moved by a few days according to Live Audio Wrestling, which is owned by The Fight Network. The temporary injunction hearing was set for today but is now set for Wednesday at the Davidson County Chancery Court in Nashville, Tennessee. Corgan asked for a six-person jury to hear the case. He also filed a restraining order, which was approved by the court, to possibly block Dixie Carter from continuing to sell parts of TNA or complete a sale behind his back. His lawsuit is one of three that was filed against TNA over the past three months, with Audience Of One and American Express also filing lawsuits against the company for unpaid bills for different services rendered.
October 24, 2016
҂ The Wrestling Observer is reporting that BankDirect Capital Finance filed a lawsuit against TNA on September 29, asking for the company to return the $207,612.29 that it owes them. The lawsuit was filed in the Circuit Court in Cook County, Illinois. The case dates back to November 30, 2015 when TNA and BankDirect Capital Finance entered into an agreement where they would loan $400,146 to TNA to cover insurance premiums. TNA agreed to pay the sum in 10-monthly installments of $41,032.45 each. Up until the end of September 2016, TNA paid only $192,534 out of that sum, leaving $207,612 in an unpaid balance. That means that TNA paid less than half of the sum in a 12-month period when they had to pay all of it in 10 months. BankDirect Capital Finance is a division of Texas Capital Bank, N.A., a diversified financial services business. It’s based in Lake Forest, Illinois. This is the fourth lawsuit TNA is facing in a span of a few months, with Audience of One, Billy Corgan, and American Express having filed lawsuits already against them.
October 26, 2016
҂ The remaining documents of the lawsuit between Billy Corgan and TNA were unsealed yesterday, shedding more light over what happened between the two parties. The documents were obtained by Ryan Satin of ProWrestlingSheet.com. The documents revealed that Billy Corgan twice saved TNA from being taken over by Aroluxe, the production company which TNA works with, run by the Harris twins. TNA had a deal with Aroluxe which is similar to what they have with Corgan now, where if TNA defaulted on their payments, Aroluxe would get control of the company. “On or about August 11, 2016, Impact Ventures again needed funds to continue to operate and to avoid immediate foreclosure or all of its assets by Aroluxe. Specifically, the company required funds to pay Aroluxe so that Aroluxe would proceed with its production of TNA Impact Wrestling episodes upcoming in August,” the lawsuit states. Carter then entered into a similar agreement with Corgan shortly after he bailed her. She pledged 100% of her equity in the company as a security if she defaults on payments to Corgan or if the company becomes insolvent. As things stand now, Carter owns 92.5% of the company while Aroluxe have a 5% stake and Anthem Sports & Entertainment has 2.5%. Under the same agreement, Corgan would have complete authority over the company, firing and hiring anyone he wants and ability to control the day-to-day operations of the company without any outside interference. Through his attorney, Corgan informed Carter and TNA that he would be exercising his right for a takeover after Carter had to take a loan from MCC Acquisitions, owned by Anthem, to run Bound For Glory and the week-long tapings that took place afterward. Corgan is also claiming that Carter and TNA Chief Financial Officer Dean Broadhead told the talent at Bound For Glory that they were negotiating with WWE for a takeover although the two denied saying that when discussing with Corgan. A hearing is set for today to see if the court will turn this lawsuit into a trial by jury as Corgan is requesting, extending his temporary restraining order and blocking any potential sale of the company, or certain assets, to other outsiders.
҂ Nashville Chancellor Ellen Hobbs Lyle will be hearing the temporary injunction case against TNA today at 1PM EST according to the Davidson County Chancery Court website. It’s highly unlikely that a final decision will come today, although if the court sides with Billy Corgan, that means TNA under the leadership of Dixie Carter is over. As previously stated, Corgan entered into an agreement with Carter and TNA where if the company was insolvent or defaulted on payments, he would take complete control by getting Carter’s percentage, which currently stands at 92.5. Despite the financial situation that the company finds itself in, it seems that Billy Corgan wants complete control regardless and looks like he is willing to pump in more money once he takes over. MCC Acquisitions, owned by Anthem Sports & Entertainment, gave TNA a big financial injection late last month which is listed as a capital loan. Anthem already has a minority stake in the company and has also offered to repay Corgan the money he invested in TNA to go away. Corgan took over day-to-day operations and given the title of TNA President this past August although final decisions are all made by Dixie Carter.
҂ In new documents filed by Billy Corgan in his lawsuit against TNA Impact Wrestling, its parent company Impact Ventures LLC, TNA Chairman Dixie Carter, TNA Chief Financial Officer Dean Broadhead and Dixie Carter’s husband Serg Salinas, he claims that Carter misled him when it came to the financial situation the company is in. Corgan said that TNA’s debts are way more than what they have in assets and if he knew the company is that far down in the hole, he would have never made multiple contributions. “I did not know that Impact Venture’s debts were that high. I never would have agreed to invest additional capital in Impact Ventures had I known the company’s debts were that high,” the document states. Corgan also found out that he’s third in line in the pecking order with payments, with Aroluxe and Anthem Sports & Entertainment coming before him. Corgan made his final financial contribution to TNA in August of this year and then refused to put in more money, which led to Anthem giving TNA a capital loan to continue operations. The same documents also reveal that TNA was planning to have more Impact tapings on November 1, 2, and 3 at their usual Universal Studios lot however there is no funds and the decision was taken yesterday, October 25, to postpone them. Despite being TNA President and supposed to be running day-to-day operations, Corgan also said that it’s Jason Brown from Aroluxe who is tasked with that role and he has been excluded from anything that relates to running the company.
҂ Things between TNA and Billy Corgan are getting uglier by the minute and it looks like the partnership between the two is in its final stages. Corgan is accusing Dixie Carter and her other business partners of colluding behind his back to sign an agreement that will see Dixie Carter sell the company to Anthem Sports & Entertainment, who would be the majority owner with 85% of the company. The production company Aroluxe would be receiving 10%, while Dixie Carter would remain with 5%. The agreement also says that Jason Brown from Aroluxe, who Corgan says is running day-to-day operations at TNA, would be named CEO for three years. However, Corgan said that this agreement would only be signed after Anthem pays off the loan that Corgan gave to TNA and he is completely out of the picture. Rather than getting a bigger pay if this transaction happens when he’s a major creditor, all involved are trying to get him out so he gets less than what he is entitled to. In a press release issued last week, Anthem said they have offered to pay off Corgan’s loan to TNA. During the court hearing today, Corgan’s lawyer revealed that Anthem has invested $1.8 million so far in TNA.
҂ Billy Corgan has said that he saw documentation of Dixie Carter corresponding with WWE over a potential sale, dating September 25, a day before TNA management denied to him that they have reached out to WWE. In new documents revealed by ProWrestlingSheet.com, it shows that TNA Chief Financial Officer Dean Broadhead sent a WWE representative certain due diligence materials that the company had requested. When WWE asked Carter about Corgan, Carter replied, “I intend to pay the loan back in full plus interest prior to selling the company.” This is the first black-on-white proof that TNA was in negotiations with WWE over a potential sale. WWE reportedly made an offer to TNA but then lowered their second offer. During the court hearing today, The Tennessean investigative reporter Nate Rau wrote that Corgan’s attorneys informed the court that the current WWE offer includes non-compete clauses and the offer is lower than Corgan’s estimate of TNA’s liabilities. Dixie Carter also e-mailed WWE to tell them she won’t sell until Corgan is out of the picture completely. Earlier today we reached out to WWE’s corporate communications office regarding their brand appearing in the court documents however no reply was given at time of this writing.
҂ TNA attorney Travis Parham painted Billy Corgan as an opportunist whose only aim is to get rid of Dixie Carter from TNA and take over her stake in the company. The following report is based on the Tennessean’s Nate Rau’s live coverage. Parham claimed that Corgan invested in TNA in July and had a chance to convert his loan into a 12.5% interest in the company. Another loan was made in August but Parham said that the money pumped in by Corgan was only to benefit himself, saying that he wanted a 22.5% stake in the company and a pledge agreement after the August loan. He then increased his request to a 50% equity stake, and that’s when he passed the comment that what Corgan offered and wanted in return “would make a loan shark blush.” The terms and conditions that Corgan wanted were a win-win situation for him, the attorney explained, and then when the opportunity came to get his money back, Corgan refused the offers. Parham said Corgan tried to buy TNA last month but then went to litigation when the deal fell through. He also noted that there was another opportunity for Corgan to buy the company on the day his loan agreement expired, a deal which would have given him 52% stake in TNA but he also didn’t take it. When discussing the pledge agreement and contract that the two parties have with each other, the TNA attorney said that regardless if TNA is insolvent or not, Dixie Carter’s rights and stake cannot be transferred under law because the contract that is signed, “is illegal under Tennessee law.” Parham kept hammering that the company wants to pay off Corgan’s loan but he’s refusing to agree and the attorney for Anthem Sports & Entertainment also said that they are willing to pay off his loan minus the transaction premium he says he’s owed.
҂ Nashville Chancellor Ellen Hobbs Lyle announced at the end of today’s TNA temporary injunction hearing that she would make a ruling on Monday, October 31. The hearing today, which started at 1PM EST, lasted around 3 hours 30 minutes with attorneys for Billy Corgan and then TNA pleading their case. Corgan’s attorney Scott Sims started first, trying to convince the court that his client is entitled to exercise his right as stated in the contract and take over the company because it’s insolvent and unable to pay any debts. In his rebuttal, TNA attorney Travis Parham described Corgan as power hungry and all he cares about is not getting his money back, but ousting Dixie Carter from her power. If the Chancellor decides to side with TNA, it’s highly likely that Corgan will then have to accept getting paid back his loan and he would depart TNA. Dixie Carter would then be able to sell the company however she sees fit, be it to Anthem Sports & Entertainment, WWE, or anyone she wants. If she sides with Corgan, then Dixie Carter is in a lot of trouble as the injunction would be upheld and she would not be able to sell any part of the company without his approval. Corgan is requesting a trial by jury for his lawsuit.
October 28, 2016
҂ Filming for the Total Nonstop Deletion segment that will be part of an Impact episode in December has been postponed and is likely to be taped sometime next month. The filming will take place in Cameron, North Carolina on the Matt Hardy compound, the same location where The Final Deletion and Delete or Decay were filmed. TND will feature the Tag Team Apocalypto match, where TNA is inviting several tag teams who are not part of the organization to be featured in this match. Matt Hardy even invited “The Day of New” to appear and promised that if The New Day show up, he would make an appearance on “MeekMahan’s show.” The postponement of the filming comes on the heels of the several financial difficulties that TNA is going through at the moment. ProWrestlingSheet.com is reporting that funds were frozen by the court due to the Billy Corgan lawsuit so the company couldn’t fly out the required personnel to complete the shoot. The segment is still planned to go ahead as scheduled, however at a later date. It’s not known which tag teams will be part of this crazy match.
October 31, 2016
҂ Chancellor Ellen Hobbs Lyle will be giving her ruling today in Nashville regarding the temporary restraining order placed by Billy Corgan on TNA and if this temporary restraining order will be eventually replaced by an injunction. Lawyers from both parties went head to head this past Wednesday in court with both sides presenting their case. Should Corgan get his way and Chancellor Ellen Hobbs Lyle votes in favor of the injunction, anyone who holds a stake in TNA will be unable to sell any part of the company without his approval. As it is now, Corgan is owed well over a million dollars by TNA for the three loans he provided throughout the Summer. TNA and Anthem Sports & Entertainment attorneys already offered to settle the bill plus interest but Corgan isn’t interested, and wants control of the company as stated by his agreement. That agreement, according to the TNA attorney, is illegal under the Tennessee laws. If the Chancellor votes against Corgan’s request, things will probably get uglier. TNA are bound to pay Corgan back all his money by November 1 as per the contract the two signed. It’s highly unlikely that Corgan will ever step foot in a TNA office again after this legal war. If TNA gets their way, then Carter can do whatever she wants and is free to sell to whoever. The lawsuit against several members of TNA’s upper management will still proceed irrespective of today’s ruling.
҂ The Tennessean investigative reporter Nate Rau reported just minutes ago that TNA President Billy Corgan lost his temporary restraining order case against TNA as Chancellor Ellen Hobbs Lyle sided with TNA. “Judge strikes down Corgan’s request for a temporary restraining order; Big win for Dixie and TNA,” he wrote on Twitter. Corgan was trying to get an injunction against the company and its various stakeholders to prevent them from selling the company to other individuals without his approval. He is owed over a million dollars that he loaned to TNA and while TNA and Anthem Sports & Entertainment have offered to pay him out, he refused, and instead wanted Dixie Carter’s 92.5% share of the company after he said that TNA is insolvent. TNA has until tomorrow, November 1, to repay Billy Corgan’s three loans as per their original agreement. During the case last Wednesday, TNA attorney Travis Parham painted Corgan as a loan shark and whose sole objective was to oust Dixie Carter from power at all costs. With this temporary restraining order lifted, Dixie Carter is free to sell TNA to whoever she wants without Corgan’s approval. There seems to be an agreement already between Carter, Aroluxe, and Anthem Sports & Entertainment where Anthem will 85% control, Aroluxe gets 10%, and Dixie remains on board with a 5% share. Despite the outcome of this temporary restraining order, the separate lawsuit which was filed will still go forward so the fight between Corgan and TNA is not even close to being finished.
҂ Following today’s ruling in Nashville, it seems that Billy Corgan’s role within TNA is effectively over. TNA announced Corgan’s hiring on April 27, 2015 and was appointed as Senior Producer, Creative and Talent Development. “I’ve known Billy for years and have always been blown away by his musical artistry, as well as his knowledge and understanding of professional wrestling,” said Dixie Carter at the time. “He has always impressed me with his creativity and passion for our business. Billy is truly gifted and understands the emotion tied to the psychology of connecting with an audience. The more we talked, the more I realized his perspective has the potential to make a huge impact on our brand.” But a year later, things started to get more difficult. In mid June of this year it was reported that Corgan gave his first loan to TNA, one of three loans that in total amount to over 1 million dollars. Two months later, following additional funding from Corgan, Dixie Carter promoted him to TNA President, replacing her while she took the role of Chairman and Chief Strategy Officer. “Billy is a visionary, an iconic artist and savvy businessman with an incredibly gifted creative mind. He has built a decades-long successful global brand, and also has a deep passion and understanding for professional wrestling,” said Carter upon the appointment. Corgan’s money is expected to be returned by tomorrow, including interest. Corgan was fighting to get an additional premium fee apart from the money he’s owed but after today it seems that all he’s getting is what he gave to TNA plus a little more in interest.
҂ The man who is expected to lead TNA going forward is Jason Brown, the Chief Executive Officer of Aroluxe. Despite the fact that Anthem Sports & Entertainment will own the majority of TNA, Brown from Aroluxe is getting the TNA CEO role on a three year deal according to documents revealed in court last week. Aroluxe is the company in charge of all the production for TNA and has the Harris twins on its staff. Aroluxe is an integrated marketing agency located in Brentwood, Tennessee which produces creative content and commercials, provides enterprise web and application development, strategic campaign development and execution, social media, digital advertising and management, and manages supporting services for its clients. Brown has been with Aroluxe since March 2010 and attended the University of Alabama and the Los Angeles Film School.
҂ In his first public comments since Chancellor Ellen Hobbs Lyle shot down his request for a restraining order against TNA, Billy Corgan said that he’s “in no way disappointed” in the ruling, but grateful that the judge considered the case. “It’s important to note is these proceedings have brought forth facts which illuminate business practices I have fought against for a reason,” he wrote on Twitter. “And I suggest that a careful reading on the judge’s ruling supports there can be no claim of victory by anyone in a position of authority.” It seems that Corgan is not ready to give up in his fight to gain control of TNA and is moving forward with his lawsuit.
November 1, 2016
҂ Billy Corgan’s attorney Scott Sims told The Tennessean newspaper that his client is ready to present his case in its entirety to the court at a later date, meaning that the lawsuit against TNA and its principal officers will go ahead as planned. “Mr. Corgan understands that temporary injunctive relief is an extraordinary remedy and, due to the nature of the proceedings, he did not have full access to information in the defendants’ possession that bears on the issues in this case. Mr. Corgan looks forward to the opportunity to conduct full discovery into these matters and present his case in its entirety to the Court at a later date,” the statement from Sims said. Chancellor Ellen Hobbs Lyle yesterday ruled that the loan agreement between Corgan and Dixie Carter was nonbinding under Tennessee law and therefore he is not entitled to evoke a clause that would have given him control of TNA. The Chancellor said that Corgan’s claims that TNA was insolvent were ambiguous, so combined with the illegal loan agreement, she had to reject Corgan’s motion for an injunction. “The (relevant section) of the pledge agreement, the court concludes, was not implemented in accordance with Tennessee law and the LLC operating agreement, and Section 6 is, therefore, unenforceable to remove the defendant LLC managers,” Hobbs Lyled said in her ruling. “As to the occurrence of a default by way of insolvency, there has not been demonstrated a substantial likelihood of success on the merits because the operative text of the pledge agreement, ‘becomes insolvent,’ is ambiguous when applied to the facts of record.” Billy Corgan, who gave TNA three loans, is supposed to get paid back his money by today according to his agreement with Dixie Carter. He also has the right to convert the debt into equity in the company, which amounts to around 36%.
November 3, 2016
҂ Anthem Sports & Entertainment and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations. Anthem Sports & Entertainment, the parent company of The Fight Network, is TNA’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures. The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company. “We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.” Leonard Asper, CEO of Anthem, said “We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year.” He added, “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”
҂ In a one line sentence part of the press release that Anthem Sports & Entertainment issued today it was announced that Billy Corgan has left TNA. TNA had until November 1 to pay off Billy Corgan’s three loans and Anthem had offered to pay him with interest. Corgan resisted the payments and wanted control of the company instead but Monday’s ruling in Nashville left Corgan with no option but to take the money and pack his bags. TNA announced Corgan’s hiring in April 2015 and was appointed as Senior Producer, Creative and Talent Development. In August 2016 he was promoted to President, replacing Dixie Carter while she moved to the role of Chairman and Chief Strategy Officer. Corgan was very well liked in the TNA locker room while Carter’s credibility took a hit over the past few months. It will be interesting to see how those in the back will react to today’s news. The Smashing Pumpkins front man has not commented publicly about his departure from TNA. His lawsuit against TNA and upper management will still go ahead as planned.
҂ Billy Corgan’s ugly fight with TNA continues despite Anthem Sports & Entertainment announcing his departure. Writing on Twitter, Corgan said that he has still not been paid by TNA, two days after their loan agreement expired. “TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to ‘get $ together’ Upon which, (yesterday or today) they’d ‘reach out directly’ to settle ALL claims. So they lied again and have used the time as a weapon,” Corgan wrote. Corgan added that since he has not been paid, he’s exploring all remedies including new filings in court to convert his loans into a 36% equity in the company. Corgan had the option to get a 36% stake in the company before November 1 but since he has not been paid and the agreement has expired, he now doesn’t want the money and wants a minority ownership, obviously creating big problems for Anthem Sports & Entertainment as well as Dixie Carter.
҂ Despite offering to pay off Billy Corgan’s three loans by the loan agreement end date of November 1, Anthem Sports & Entertainment are “rejecting” Corgan’s comments made today even though they admitted of not honoring their agreement, yet. “The matter is before courts and public discourse is inappropriate,” the company said in a statement also released on Twitter. “There is a solid financial plan for @IMPACTWRESTLING & Mr. Corgan’s loan will be dealt with appropriately.” By law, TNA had up until two days ago to settle all payments with Billy Corgan who invested well over 1 million dollars in the company. However just like other companies who have filed a lawsuit against them, Corgan is still without his investment and judging by how things are going, it will be a while till Corgan gets his money back.
November 4, 2016
҂ The war of words between Billy Corgan and Anthem Sports & Entertainment continues, with Corgan telling Anthem that their statement on Twitter about rejecting his statement was a terrible way to start their “future relationship.” Anthem blasted Corgan for putting out in public certain information and Corgan said that Anthem was the one who issued the press release announcing more information from a lawsuit which is still pending and questioned if that is not public disclosure. Today, the now former TNA President said that the company actually owes him $2.7 million. He said that the excuse TNA used for not paying him by November 1 was that they didn’t know where to find him. “If I’m not repaid today in full and without conditions attached, I’ll be forced to once more pursue remedy by taking TNA stock via court,” Corgan wrote on Twitter. He said the attorney for Anthem stood up in court and told the judge they were ready to pay him off and even fund TNA but that has not happened yet. An article on the NY Post quoted a TNA source saying that TNA will pay back Corgan when he asks for his money back. “Last thing: despite being called a lender by every arm of TNA propaganda I can still convert to 36% stock or sell option to highest bidder,” Corgan warned. “And that ‘option’ if you will to convert my boo-hoo-hoo loan to 36% stock or auction it off to a PW titan doesn’t require a court order.” Corgan was obviously referring to WWE with the pro wrestling titan remark, the company that TNA denied they were in negotiations with when Corgan asked but ended up being true as revealed in court.
November 9, 2016
҂ PWInsider.com is reporting that Dixie Carter addressed the troops yesterday in a conference call which was also attended by Anthem Sports & Entertainment Vice President Ed Nordholm, who was chosen to head up the Impact Ventures Board of Managers. PWInsider says that during the call, Dixie Carter said that Anthem have provided funds and resources that will keep the company alive and there was also some information about TNA resuming their non-televised tours, their only source of income from live events. Carter also acknowledged that former head writer David Lagana resigned from his post last week and former TNA President Billy Corgan is no longer involved with the company after he was kicked out. Running the creative team will be John Gaburick, Matt Conway, and Madison Rayne. The conference call ended abruptly PWInsider says after an automated message came on saying that the call was being recorded. Oops!
November 11, 2016
҂ Former TNA President Billy Corgan wrote on Twitter today that he signed his settlement with TNA and Anthem Sports & Entertainment. “And to fill in the blanks, I’ll do a few interviews next week to spell out what is/isn’t in it,” Corgan added. Corgan was unceremoniously booted out of TNA earlier this month after Anthem pretty much took over the company. Corgan lashed out at Anthem on Twitter after they issued a press release saying that he was no longer with the company. He claimed that TNA did not pay him back his three different loans and the loan agreement expired on November 1, then threatened to change his loan amount into a 36% equity in TNA. It’s not clear if his lawsuit against TNA will be dropped following this settlement.
November 12, 2016
҂ In a short statement issued on The Fight Network’s Twitter account, Anthem Sports & Entertainment said that they are “happy” things are now resolved with former TNA President Billy Corgan. “Anthem is happy with arrangements made w/ Mr. Corgan, allowing @IMPACTWRESTLING to put this behind them and focus on producing great shows,” the statement read. The way the statement is worded leads us to believe that the lawsuit that Corgan filed against TNA has been dropped as well although that has not been confirmed. Corgan loaned TNA $1.8 million but wanted a $2.7 million pay off with the premium fee he thought he was owed after Carter gave up her controlling interest to Anthem. Corgan has vowed to do a few interviews to explain what is covered in the agreement.
November 29, 2016
҂ Anthem Sports & Entertainment yesterday issued a press release officially announcing the settlement with Billy Corgan over the unpaid TNA loans. With this agreement, the former TNA President agreed to dismiss his lawsuit against Impact Ventures. Anthem Executive Vice President Ed Nordholm said, “We are pleased to conclude these arrangements with Mr. Corgan. The events leading to litigation were unfortunate but also reflected all parties’ desire in good faith to support the company.” Corgan said that he’s pleased with the agreement in place that will allow wrestling operations to continue. “For my interest from the start was to provide support, be it material or creative, to such a great roster and crew. And as I plan on continuing in the business side of pro wrestling, I look forward to seeing where Anthem’s leadership takes the company in 2017, and wish them the best.”
December 15, 2016
҂ John Pollock from Live Audio Wrestling is reporting that TNA co-founder Jeff Jarrett met with officials from Anthem Sports & Entertainment last week although no specifics from this meeting were revealed. Anthem now is the company which is pumping money to keep TNA alive and pretty much is considered the majority owner of TNA for all intents and purposes. Pollock says that as of today, there’s no agreement for Jarrett to return to TNA although him returning is not out of the question at this point. Jarrett mainly met with the man who’s running day-to-day operations at TNA, Anthem Executive Vice President Ed Nordholm. Jeff Jarrett had quite a history with TNA, first co-founding the company with his father in 2001, then resigned in 2012. In 2015, while still a minority owner, he returned for a few weeks to promote his Global Force Wrestling company. Jarrett’s return came with a price though as he sold his minority share to Dixie Carter.
December 29, 2016
҂ Mike Johnson over at PWInsider.com is reporting that according to a few of his sources, Anthem Sports & Entertainment will officially become the parent company of TNA Impact Wrestling on January 1, 2017. An announcement will be forthcoming. Anthem, the parent company of The Fight Network in Canada, became the savior of TNA when they pumped in the money for the last round of television tapings including the Bound For Glory pay-per-view and then paid off former TNA President Billy Corgan to vanish from the company and drop his lawsuit against TNA. The settlement with Corgan was announced on November 29, paying him the loans he was owed. The Canadian company announced that they had provided TNA with a credit facility to fund operations on November 3. Anthem is TNA’s exclusive broadcaster in Canada as well as the exclusive worldwide digital streaming partner for all TNA programming. It already had a stake in Impact Ventures prior to their credit deal. It’s expected that Anthem will own around 85% of TNA, with Aroluxe holding 10% and Dixie Carter holding 5%. Taking over the day-to-day operations at TNA is Anthem Executive Vice President Ed Nordholm, who’s been calling the shots since early November. Dixie Carter will have zero say in any operations but will probably stay onboard as a performer.
January 5, 2017
҂ Anthem Sports & Entertainment officially announced that they have entered in a definitive agreement to acquire the majority control of TNA, forming Anthem Wrestling Exhibitions, LLC. Ed Nordholm will serve as president of Anthem Wrestling Exhibitions. “We are thrilled to have acquired TNA IMPACT Wrestling,” said Ed Nordholm, Executive Vice President of Anthem Sports & Entertainment Corp., which is also the parent company of Fight Network. “As we grow Anthem’s linear, digital and mobile platforms globally, top tier content with global appeal is key to that success and this acquisition is a perfect strategic addition to our portfolio. IMPACT has been a dominant wrestling brand around the world for more than a decade and we are confident that Anthem can leverage its assets and strategic partnerships to take IMPACT Wrestling to even greater heights.” Mr. Nordholm, who has been the managing director of the IMPACT Ventures Board of Managers since October 2016, will assume the position of President of Anthem Wrestling Exhibitions, LLC. Dixie Carter will remain as a minority equity stakeholder but will hold no positions in the new TNA. “Anthem has been a great partner for many years,” added Dixie Carter. “We have worked hard to find the right company who would acquire TNA, use its strategic influence and have a long-term commitment to the brand. TNA’s incredible fans, talent and staff deserved to see the brand continue to thrive after 15+ years of incredible growth. I’m excited to move to a new position and work with Anthem on their global strategic plan, and I am confident TNA IMPACT Wrestling is going to be a huge part of their success.”
҂ Dixie Carter will be resigning from her position as Chairman of Impact Ventures as part of the new deal that sees Anthem Sports & Entertainment take over TNA Wrestling through the new company Anthem Wrestling Exhibitions, LLC. While Carter will have no say at all creatively or any decisions that are taken within the company, she will be joining the Advisory Board of Fight Media Group, which holds all of the combat sports-related assets of Anthem, where her focus will be on the global growth of the combat sports-related brands owned by Anthem. The sale to Anthem spells the end for Carter in TNA after her father bought the company in October 2002 and put her in charge of operations. Before she joined TNA following her father’s purchase, Carter actually worked with TNA doing their marketing through her Monterey Peninsula Talent company. She was appointed President of TNA Entertainment in the first few months of 2003, and remained in that position until August 2016 when she gave up the spot to Billy Corgan. Carter eventually bought out TNA from her father’s Panda Energy company and then bought the rest of the shares from Jeff Jarrett in 2015 after he agreed to sell in return of one final run which included a lot of advertising for his Global Force Wrestling company. A newly created position of Chairman and Chief Strategy Officer was created for her but her role diminished completely in November when Anthem Sports & Entertainment came with enough money to buy her stake, leaving her only with 5% of the company she once owned.
January 7, 2017
҂ TNA debuted its newest logo yesterday, which includes the bird from the Anthem Sports & Entertainment logo as well as Anthem’s name. The blue bird spreads its wings from the A of Impact which has a blue and white gradient color. The word Wrestling is written in smaller font underneath and Anthem’s name appears at the bottom in white. This will now replace the silver and blue shaded logo with a silver and blue outlined hexagon in the background representing the six sided ring that Dixie Carter unveiled in December 2014.
March 3, 2017
҂ With a new regime comes a new name…well, sort of! Starting from next week’s Impact, TNA will no longer be TNA as the initials and the Total Nonstop Action name will be dead and buried. Going forward, the company will solely go by the name of Impact Wrestling and the new folks running the show made sure everybody knows that during the tapings yesterday, blasting the previous management for their screw-ups and letting big names like AJ Styles, Samoa Joe, Bobby Roode, and others leave. Dropping the TNA name has been in the pipeline for quite a while with parent company Anthem thinking that the name is “damaged goods” to wrestling fans. The TNA name has been around since the first show which aired on June 19, 2002.
March 9, 2017
҂ Last night, The Fight Network MMA reporter and color commentator Robin Black announced on his Facebook that Anthem Sports & Entertainment, the parent company of Impact Wrestling and The Fight Network, has started laying off employees and cutting back on original programming on the Fight Network. “And just like that, life changes. I got a few calls yesterday about big cuts at Fight Network, about friends being let go. I was sad and scared for them. Then the call came in to me. Heavy scaling back of originally-produced content. Down-sizing. After 8 years, my job is being eliminated,” Black wrote. While it’s not clear how much Anthem paid to take over Impact Wrestling, the timing of the layoffs will certainly raise some eyebrows in the industry.