New twist in the TNA saga, Billy Corgan no longer with the company
THE POWER STRUGGLE within TNA is getting more complicated as each day passes by. The latest development in the story shows that TNA has joined hands with Anthem Sports & Entertainment Corp meaning that Billy Corgan is no longer with the company.
Both the parties went on to exchange words on Twitter after the press release about the same and Corgan claims that TNA still owes him money. Corgan will be looking to file a lawsuit and he apparently wants to turn the debt into 36 percent ownership in the company.
Below is what the press release from TNA said.
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 alongside Dixie and the incredible talent and staff at TNA.”
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