Billy Corgan

Billy Corgan, who still remains President of TNA as of this writing, issued a series of tweets on Monday afternoon after news broke that a judge had denied his attempted injunction against TNA earlier today in Nashville. Corgan seemed pleased with the amount of facts the proceedings have brought to light publicly about the business practices of TNA Wrestling.

As reported on earlier, TNA has been ordered to pay back the loan Corgan provided to the company this year by tomorrow (November 1). Once the debt is paid, Corgan will forfeit any rights to power to convert his debt into a 35% ownership of TNA.

When things are officially settled with Corgan, Anthem Media (the parent company of Fight Network) is expected to step in and replace Dixie Carter as the majority owner of the company and Aroluxe Marketing’s Jason Brown being named the CEO of TNA. Carter is expected to stay on as a minority owner with the breakdown of ownership being 85% for Anthem, 10% for Aroluxe and 5% for Carter (these ownership figure breakdowns are based on documentation uncovered by Corgan’s legal team).

A report by PWInsider.com noted that Corgan can still move forward with his lawsuit against TNA and other executives, with his legal team hinting that more legal proceedings against Carter and others are expected for “additional wrongdoing” he believes may have taken place. Regarding Carter, she now faces a TNA locker room that remains behind on pay and was told at a recent television taping that conversations with WWE regarding a sale never took place when they actually did, including days before telling talent otherwise.

4 COMMENTS

  1. As long as all this legal boo-hooing doesn’t get in the way of House Hardy vignettes for Thanksgiving, I’m happy.

  2. I truly can’t see how anyone could separate the company’s weekly show and storylines from reality. Especially when they only have enough shows taped for a couple more months. After that, having to film a show at some remote location in NC is not promising. Plus since DC lied to everyone all year, how do you know if you have a job in 2017?

  3. One management tool I swear by is that while staff don’t need to know EVERYTHING, you don’t lie to them!

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