Billy Corgan

The New York Post is featuring an interview with new TNA President Billy Corgan talking about his goal to become the majority owner of the company.

The article described IMPACT Ventures, the producer of TNA Pay Per View and Impact Wrestling for Pop TV, as “cash-strapped” and that they have entertained bid talks including WWE and Sinclair Broadcast Group. Prowrestling.net reported that WWE met with TNA officials in early 2016 showing interest in the company’s tape library should they shut down.

Corgan talked at length about his future goals as President of TNA, with the article noting that he began fully investing in the company this past August after initially being brought in as a producer. The article lists Corgan, Dixie Carter, Aroluxe Marketing and Canada’s Fight Network as all holding equity stakes in TNA Wrestling right now.

The Post article described TNA as being “so financially strapped” that Aroluxe Marketing recently acquired the “TNA” (Total Nonstop Action) trademark.

Corgan stated he hopes to have more sorted out come the Bound for Glory PPV on October 2 and continue to seek out new potential investors for the company.

“There’s a rebel spirit in wrestling that has gone out of rock ‘n’ roll. 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. I can get anyone I want to listen to my vision.”

20 COMMENTS

  1. Only a matter of time before they close its doors. They have no star power on the roster anymore, they let everyone go. No one cares about Eli Drake, Mike Bennett, & Damien Sandow. Lashley & The Hardys are the only big names they got, maybe even Gail Kim for the women. Hopefully Ryback & Cody Rhodes can generate some interest when they arrive.

  2. so for every TNA fan that bashed me for my anti-TNA comments over the last few years… told you so. Thank you and good night!

  3. Well Corgan seems like the right person to try and turn things around. And the show is on the right track, so if they can sign names like Rhodes and Ryback, Keep putting together good TV.And do live shows like ROH (and get some people who know how to promote a live product like ROH) then..hey lets just see what happens.

  4. The article itself has the answer. The estimated selling price is 40 million and WCW sold for 10 million to WWE (the highest bidder with no tv deal), plus WCW was losing over 200 million each year by that point whereas by all accounts, it seems TNA just started losing money this year and obviously, by finding the investors to carry it through thus far, it seems the company is cash strapped and not in heavy debt.

  5. See my comments above Aaron, as you said, your comments were over the last few years and ignored that TNA has lasted longer than almost any other company in the industry (including ECW, WCW, AWA, Memphis and even ROH by a little bit) and I’m thinking you were adding that in your comments or noting that they’ll still last in a few years but in a few years time would be cash strapped. Thinking (an assumption on my part) you may have been saying it was going under right away or the ship was sinking, which ignores the fact that it stayed above water those years. Not trying to start an argument or call things out but IMO if you note TNA’s negatives (and there are many upon many) you should also note it’s surprising achievements / successes (i.e. surviving longer than anyone said they would, starting right from 2002 when they launched with weekly PPV’s and despite all obstacles they are still around and still have a TV deal, albeit a worse deal than before, in the US and separate deals globally), etc. etc.

    So, yes, TNA is in trouble and has made a lot of mistakes, but in fairness I’m thinking you were surprised in reading this article that Corgan is still interested in investing, and that ROH is interested and WWE is interested in buying their library (all this time later and after all that has occurred) and multiple people still want a stake in this same company people said wouldn’t survived 14 years ago.

    To be honest, I’m as surprised as anyone else and if a better alternative would appear (although the product is notably better right now) and get global TV deals, I would be just as happy.

    So, there is a lot more to the story than TNA is going down / has been going down for 14 years.

    Time will tell.

    You didn’t tell us the full story Aaron. Good evening to you as well good sir!

  6. Only a matter of time until any company closes its doors, really, so that’s an unfair statement. TNA, right now, is a better product than it has been in years. But I don’t think that signing more former WWE talent is the cure for what ails them. They’ve lost many fans due to the unpredictability of where to find their programming, (the years of Fox Sports, Spike, Destination America, all pains,) so getting POPtv into more homes and keeping a good deal with them are two paramount ventures. Getting solid talent with reputations for good work is another. Moose and Bennett are more beneficial to TNA than Cody Rhodes or Ryback could be, because the people who are fans of those guys are likely to follow them, where fans of the WWE guys are just going to continue watching WWE.

    TL;DR, TNA is doing a lot right, right now. They just need to stay on the air, at a good time slot, and get their product out there.

  7. I think Ryback is a guy they could do without, and maybe Rhodes, too. I like Cody, don’t get me wrong, but he’s pricy and wouldn’t necessarily pay for himself with a huge, sustained boost in the ratings. Signing great indie talent with some name value would be a better help, and they’ve done well so far with, say, Mike Bennett. Moose, too, to an extent.

  8. Hopefully TNA will last for many years to come. I will say this they lasted longer than WCW did when they had Eric Bishoff and Vince Russo. If there’s one thing I’ve learned from wrestling is you NEVER want to hire Eric Bishoff,Vince Russo,Hulk Hogan,not any member of The Kliq. The only reason WWE is still in business is because they knew how to control them and didn’t let them get too power hungry like WCW did.

  9. “…TNA has lasted more years than almost any other company in the industry
    (including ECW, WCW, AWA, Memphis and even ROH by a little bit).”

    Colby, you’re right that TNA has outlasted ECW, WCW, & Memphis, but…I hate to break it to you.

    AWA was in business for 31 years (1960-1991) & ROH (February 23, 2002) is actually 4 months older than TNA (June 19, 2002).

  10. Disagree about Cody. He comes from a prestigious wrestling family and is still trying to prove himself so I think TNA would be a great place for him to do that. I think his fans would follow him there too, just as long as they don’t stick him with another bite ass or derivative WWE gimmick like they did with Dustin & Black Rain.
    Agree 110% about Ryback. TNA can definitely do without him. He sucked and his flash has been lost in the pan of pro wrestling. Let Lucha Underground have him. They did great turning Big Ryck’s (Ezekiel Jackson’s) career around and they need another powerhouse to replace Ryck since apparently his character was “killed.”

  11. Thx so much as I believe we should use accurate info when having a discussion and should have looked up AWA’s dates (I watched AWA at the end but I don’t know why I was thinking they were just a 10 year old and I was looking up ROH’s start date recently and was thinking it was the other way around with the 4 months – should have double-checked) but hopefully my central point is still noted of TNA deserving credit for what they somehow have been able to do and not just another told you so.

    I could have listed many other companies they have outlasted as well but I thought I’d just stick with major ones. Of course New Japan has lasted longer but I was kind of focusing on North American ones to keep them apples to apples.

    One other note is the 40 million value. I can’t really see the investor(s) paying that much but the real surprise to me was to learn their yearly revenue is 20 million.

    Meltzer just said today no one is paying more than 4 million but I think it’s somewhere between because if Dixie is the majority owner and ultimately decides on the buyer she would surely go with Billy if he has the highest bid and Billy’s net worth is over 50 million. If he wants to own the majority and the company was only going for 4 million he would surely, quickly, pay 5% of us net worth to own a company he wants to own with no debt and a value more than the investment and the deal would be done fairly quickly so I’m thinking although the purchase will be much less than 40 million I also think it’ll be well over 4 million 🙂

  12. Actually Aaron, I guess made a major assumption, you may have meant you told us for years that TNA will be sold to an investor that wants to continue with and to grow TNA and that it will probably be sold for millions in a bid-off and that WWE would have some interest and that ROH would have bid twice? If so, I stand corrected, as few people have said that on here so if that is the one you certainly were one of the few to say that.

  13. That’s the misconception is that TNA doesn’t have the star power. They do they just don’t know how to properly execute it. Eli Drake could be a huge name,and so could Bram. TNA just doesn’t use them properly at all. TNA has multiple break out stars just waiting to shine. Eddie Edwards,Moose,Mike Bennett,Eli Drake,DJ Z and Jesse Goddarz and Bram. These gentleman can be TNA’s break out star easily.Put Moose and Bennett in the Grand Championship Division along with Jesse Goddarz,Bram and DJ Z. These men can actually make this division hot if given the chance.

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