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TNA Wrestling / Impact Ventures Bailed Out By New Partner Anthem Sports

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K

Kaladin

Member
Anthem Sports & Entertainment and Impact Ventures Announce Credit Relationship

Toronto, Canada (November 3, 2016) - Anthem Sports & Entertainment Corp. 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 Corp. is a global sports media company that operates Fight Network, Impact Wrestling’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.”

“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,” said Leonard Asper, CEO of Anthem. “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.”
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So essentially, Anthem Sports is their new creditor and is in charge of the company. They will be making all decisions going forward with the Board of Managers. Dixie Carter is still there, but her decision making ability is extremely diminished.

As for Billy Corgan? Anthem says he is gone from the company, but this is the latest series of tweets from him:

FACT: 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

FACT: I have still not been paid, and I'm exploring all remedies including new filings with court and converting to 36 pct. equity
Click to expand...

https://twitter.com/Billy

So apparently he hasn't been paid even though Athem is saying he's gone from the company.

This is the song that doesn't end.

It should be noted that I pulled the press release from pwinsder, the Impact Wrestling website is currently down with a 500 Internal Server Error ever since they announced the partnership.
 
B

BewareTheBatsie

Member
tumblr_mu8ai2CUTH1s0teago1_400.gif


Dixie Carter vs The World is the best wrestling feud right now.
 
B

bigkrev

Member
Having no idea what Anthem Sports is, I google it and it's a Canadian company owned by a guy worth $833 million

Guess they aren't dying anytime soon
 
K

Kaladin

Member
bigkrev said:
Having no idea what Anthem Sports is, I google it and it's a Canadian company owned by a guy worth $833 million

Guess they aren't dying anytime soon
Click to expand...

Anthem Sports runs The Fight Network in Canada, which is the network that airs Live Audio Wrestling.
 
S

Sir_Crocodile

Member
Anthem is trying to wait billy out before they officially buy out the company, because the loan between billy and tna says that billy gets a huge stack of cash if someone else buys the company while they still owe him money.

The carnival continues. Glad awesome guys like Borash still have jobs though.
 
Tom Nook

Tom Nook

Member
....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.
Click to expand...

For F... Sake!

LOL, This company WILL. NOT. DIE.
 
D

DeathyBoy

Banned
Sir_Crocodile said:
Anthem is trying to wait billy out before they officially buy out the company, because the loan between billy and tna says that billy gets a huge stack of cash if someone else buys the company while they still owe him money.

The carnival continues. Glad awesome guys like Borash still have jobs though.
Click to expand...

How they haven't done a storyline where Broken Matt tries to delete TNA is beyond me.
 
T

Trojan X

Banned
I guess nothing will be up to sale to WWE now. I will give dixie less than 8 month before she announce thwtshe is leaving the company.
 
R

ratcliffja

Member
Sir_Crocodile said:
It's already outlived WCW.
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That kind of blows my mind. I loved WCW when it was still around even until the very end (though it peaked in 98), so it's crazy to think the company was around for such a relatively short time. It's a shame that the AOL Time Warner merger ended the Monday Night Wars forever. Considering how many ex-WCW staff went to TNA, I think there might have been an X-Division-like solution in WCW that could have taken off a lot more than it did for a company struggling to gather a fan base.
 
E

enewtabie

Member
Alternatives are nice, so I'm glad the company will continue, but she needs to go. Wasn't Fite picking up rights to watch Indy and ROH shows on it's app as well?
 
T

Tatsumaki Senpuukyaku!

Member
Can you really say that TNA lived longer than WCW? WCW was around a lot longer before Turner bought it, it was just called something else. It's not like TNA has had the same name or ownership for it's whole tenure.
 
K

krae_man

Member
Tatsumaki Senpuukyaku! said:
Can you really say that TNA lived longer than WCW? WCW was around a lot longer before Turner bought it, it was just called something else. It's not like TNA has had the same name or ownership for it's whole tenure.
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Well both TNA and WCW had the NWA World title at one point so they both go back to George Hackenschmidt!
 
R

Rockandrollclown

lookwhatyou'vedone
I guess I don't understand why one would bail out TNA. It seems like it would be cheaper to buy out their library and start another promotion from scratch. I mean you're basically starting in the hole with TNA no? You don't need the brand to hire the wrestlers.
 
J

JPeeples83

Member
Tatsumaki Senpuukyaku! said:
Can you really say that TNA lived longer than WCW? WCW was around a lot longer before Turner bought it, it was just called something else. It's not like TNA has had the same name or ownership for it's whole tenure.
Click to expand...

It depends - WCW as a name has been around longer, but not as a its own separate company. WCW as a company was only around as long as Turner ran it - so TNA has outlived it.
 
S

SpideySenses

Member
Feels like we're long past the point of TNA surviving being good for the industry, especially with seemingly no end of money marks.

Not that we're ever going to have a competitive number two company again, WWE has proved that a pseudo alternative with their production values is way more appealing than a true competitor to most fans.
 
S

Sir_Crocodile

Member
SymbiantXenos said:
Cue another channel day and time change.

Only thing remotely decent about TNA is Broken Matt Hardy.
Click to expand...

Bobby Lashley has been a fantastic champion, EC3 is a good old school babyface the likes of which wwf don't understand how to build anymore, and a lot of the x division guys are fantastic (though horribly misused, tna has the same problems as wwf there).
 
T

Tatsumaki Senpuukyaku!

Member
JPeeples83 said:
It depends - WCW as a name has been around longer, but not as a its own separate company. WCW as a company was only around as long as Turner ran it - so TNA has outlived it.
Click to expand...

TNA has never been a separate company though, they've been owned by a few different people. I don't see how that's any different from Ted Turner buying Jim Crockett Promotions. Sure - he changed the name but if you were watching the WCW TV show everything would have been the same. Almost everybody behind the scenes stayed on too. There were still members of the Crockett family working backstage on the last Nitro.
 
Cardon

Cardon

Member
So it's almost the same old shit more or less. Well at least some of the talent have a place to get an occasional check from besides doing indie gigs.
 
S

Sir_Crocodile

Member
Sephzilla said:
If you're going to bail TNA out why on EARTH would you agree to let Dixie stick around?
Click to expand...

Stupid as it sounds, she STILL insists on saving face and pretending she's a success. Even though everyone in the industry thinks she's a joke who somehow turned one of the best rosters on the planet and a lucrative tv deal into circling the drain.

Billy wanted her gone and would accept nothing else. If he would have done the deal anthem are doing now where she gets to pretend she's still an exec, he'd have had the company months ago.
 
P

Penguin

Member
I mean their existence will continue, but it's a sour survival.

Like Anthem, if I remember correctly, will severe limit any and all growth potential for the organization. They won't be a touring brand. Essentially would film a chunk of shows every quarter or so and that's about it.

Yes similar to what they are now... but that's only shrinking
 
U

UrbanDandy

Member
Seems like Impact would be better utilized as an indie promotion. Let's face it, with the decisions that have been going on, it would've never competed against WWE. Impact could've been great, but somewhere along the way, things went downhill.
 
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