clock menu more-arrow no yes mobile

Filed under:

Fight Network parent company Anthem offers to repay Billy Corgan on TNA’s behalf

Anthem Sports & Entertainment Corporation, the parent company of Impact Wrestling’s Canadian broadcast and internet streaming partner Fight Network, announced today that’ve offered funding to TNA to repay Billy Corgan’s loans to the company, and are also “positioned to provide additional transitional assistance to the company".

A hearing on Corgan’s lawsuit against TNA, originally set for today (Oct. 19) was re-scheduled for next week. There’s no confirmation the two things are related, but its difficult to imagine they’re not.

Essentially buying the Smashing Pumpkins frontman out seem to clear up the ownership picture and possibly give Dixie Carter a clear path to sell, or continue on as part of an ownership group. But as David Bixenspan at SEScoops pointed out in his reporting on the taxes TNA owes the State of Tennessee, at least some of the debt owed to Corgan consists of personal loans made to Dixie Carter - so that may not even be included in Anthem’s offer.

Here’s the statement, which also appears to indicate Anthem, via sister company MCC Acquisitions, funded Bound for Glory and the last round of television tapings:

Anthem Statement on Investment in TNA Impact Wrestling

Toronto – Anthem Sports & Entertainment Corp. ("Anthem"), the parent company of Fight Network, today confirmed that it recently made a working capital loan to fund the operations of TNA Impact Wrestling. Fight Network is a licensee of TNA programming for broadcast in the U.S., Canada and other international markets, and is also the exclusive licensee of TNA for streaming Internet-delivered TV.

Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company.

"TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth," said Leonard Asper, CEO of Anthem. "We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content."

Sign up for the newsletter Sign up for the Cageside Seats Daily Roundup newsletter!

A daily roundup of all your pro wrestling news from Cageside Seats