Rumour: TNA Ownership

First topic message reminder :

It is being reported that WWE will soon be owners of TNA's video library, and that Billy Corgan is going to take majority control of what was TNA and rebrand it.

Looks like WWE went in and got what they wanted. This could be huge, could be nothing, but at the very least the best years of TNA will now be in Vince's control.

Is this awful for TNA? The best they could have hoped for?

Cassius Zhi wrote:If UK wrestling continues to grow in popularity and was somehow able to score a free to air tv deal, do you think Vince would have to consider his options in the UK; for example allowing Smackdown on Free to Air, or Availible through the Network in the UK?

I doubt it. TNA has been on freeview for years in the UK and it hasn't affected WWE's ratings. The TV deal paid to them by Sky is always likely to be worth more.

I thought the deal was that if Corgan walked away then Anthem would take over (with a possible view to growing a following in Canada and parts of the US not already sold on WWE)?

Corgan has indeed walked away, 3 months after being named President. It doesnt seem like a friendly split either - he's exploring options to get back money he is owed.

I don't blame him - sounds like he invested a fair bit in the company.

Well thats a bummer. I had hopes for TNA making some progress under Corgan, but Anthem will surely just view them as a business acquisition and invest the minimum amount possible while they figure out what to do.

Dixie Carter owes him $2.7 million and are now refusing to pay.

I just can't see the appeal in investing in them. Makes sense for WWE, what with having loads of money and wanting the tape library. But there's so much mess you'd think if you had any interest in wrestling as a TV show then you'd look elsewhere

Any truth to the rumours Billy Corgan, Smashing Pumpkins has been replaced by Homer Simpson, Smiling Politely?

Marky wrote:Any truth to the rumours Billy Corgan, Smashing Pumpkins has been replaced by Homer Simpson, Smiling Politely?

Thats what I heard...and that he demanded they learn Starship's We Built This City and other assorted 80s and 70s classics.

Stolen from Reddit:

Billy Corgan (@billy, pro wrestling enthusiast and funder, founding member of small-time musical act Pulverized Gourds) has unleashed a flurry of tweets that, if true, could prove a powerful salvo against the carny cowpat of Dixieland. To quote a presidential candidate: "Big if true".

https://twitter.com/Billy/status/794568002553413632

https://twitter.com/Billy/status/794569232289853440

https://twitter.com/Billy/status/794569782184071168

https://twitter.com/Billy/status/794570172610859009

https://twitter.com/Billy/status/794570457466990593

https://twitter.com/Billy/status/794570729979346945

https://twitter.com/Billy/status/794571368494956544

https://twitter.com/Billy/status/794572818654629888

https://twitter.com/Billy/status/794573291029692416

SUMMARY for those opposed to the tweeting sphere:

-A news story in the NY Post claims that the judge ruled against the 2.7 mil owed to Corgan

-Corgan is now formally requesting he be given his money in full

-TNA and its creditors have stalled because they "didn't know where to find him" (a.k.a., they didn't think to just call his lawyer and ask for the information to wire money to his account)

-Corgan states that, if he is not repayed today in full and without conditions, he will exercise his equity conversion, taking 36% of TNA stock

-That conversion does NOT require him to do anything with the courts.

-wtf is Anthem even doing?

-Does mention that he can convert to equity and sell equity to "PW titan"...The implications!

It would be genuinely amazing if after all this Corgan sold to Vince and not Dixie

To quote Leonard Nemoy in the Simpsons - The cosmic Ballet goes on...

Fernando wrote:It would be genuinely amazing if after all this Corgan sold to Vince and not Dixie

You do mean Vince Russo, right?

Samo wrote:
To quote Leonard Nemoy in the Simpsons - The cosmic Ballet goes on...

Not much cosmic about this ballet...except the ridiculousness.