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Source: Despite denials, Spike TV unlikely to renew deal with TNA

Late last night, TMZ published a report stating Spike TV had already made the decision not to renew its contract with TNA, leaving Impact, the two-hour Thursday night flagship program, without a network come October when the current deal runs out.

Today, both Spike TV and Dixie Carter have been denying that story, claiming negotiations between the two sides are ongoing.

According to a source we spoke with today, the denial of the initial report is simply posturing. The relationship is, as of now, almost certainly over but Spike isn't outright denying reports because it could drive the bidding down if other networks are interested in cutting a deal with TNA for its programming.

It's at least possible an agreement is reached but only if TNA is willing to take a drastically discounted price. Put simply, Spike TV has been paying more than what TNA is worth based on its ratings growth during its nine years on the network which is to say, there hasn't been any ratings growth. This despite bringing in high profile names like Hulk Hogan and Eric Bischoff and added expenditures like taking Impact on the road and going live on a bi-weekly basis.

If there is a renewal, it could only happen because TNA is unable to find a better deal with any other network and it took the only deal on the table from Spike TV, which involves a lot less money.

Considering the company is kept alive largely on the money it gets from the current deal with Spike TV, if a new deal is reached and it's for much less money, that would likely lead to major cutbacks, even more than what we've seen over the past year or so.

Even then, TNA may not survive.

Stay tuned.

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