With all the furore surrounding whether TNA will be bought out by the WWE or not, it has been hard to separate the rumours from the truth in this situation. While some reports have suggested that WWE is in prime position to buy TNA, others insisted that it was the company’s video library that the WWE is after.
After acquiring a plethora of former TNA talent, namely AJ Styles, Samoa Joe, Bobby Roode and Austin Aries, the WWE were reportedly looking to compile video footage of the Superstars so as to document their rise through the pro-wrestling ranks, as well as pad up their Network content.
And the latest update that has surfaced regarding the sale of TNA has corroborated this claim, with pro-wrestling journalist Justin LaBar revealing that his sources confirm the story.
As reported by wrestlingnewssource.com, LaBar tweeted the following on the matter:
Just got a text saying #WWE to buy TNA video library & Billy Corgan is going to be new majority owner of TNA that he'll likely rebrand. Wow!— Justin LaBar (@JustinLaBar) October 5, 2016
This is also in keeping with what Jim Ross had mentioned on his podcast, The Ross Report, earlier this week. A well-connected and respected man in the industry, the former WWE commentator had this to say regarding the situation:
“WWE is allegedly very close to buying the TNA library. Not the promotion, the TNA library. Obviously, with the WWE Network, the TNA library could be a nice resource, a nice asset. Now, you know, TNA does have some talents I’m sure WWE would like to have down the road, but now I hear that the WWE and TNA have had talks about buying the library and that a deal is imminent.”
Contrary to the initial speculation, WWE doesn’t seem interested in buying out the whole promotion, but only their video library, it would seem. And considering the financial crisis that TNA finds itself in, it shouldn’t be long before the WWE acquires what they want either.
TNA has been on tenterhooks for the best part of the last year, amidst incessant rumours of a lack of funds and also contending with a contingent of their talent jumping ship to the WWE. There were even doubts regarding whether Bound for Glory, TNA’s marquee pay-per-view, would go ahead as planned this year.