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TNA News: Backstage update on TNA wrestling's new ownership

Vidisha Joshi
3.89K   //    30 Nov 2016, 19:16 IST
Anthem reportedly paid Corgan an undisclosed sum (Picture Credit: Wrestling News)

For the past several weeks, Billy Corgan has announced many times that he has come to a settlement agreement, with regards to his issues with the TNA. It’s been reported by the PWInsider that the legal paperwork between the two parties has been completed, and everything is supposed to be settled by sometime this week or early next week.

As reported by, Anthem paid an undisclosed amount as a settlement to Corgan. In return, Corgan dropped the lawsuit against Anthem. The final terms of this deal were settled only this afternoon, although it had been agreed upon weeks ago. Corgan was quoted in his press release saying,

“I’m pleased that an agreement is now in place that allows wrestling operations to continue. For, my interest from the start was to provide support, be material or creative, to such a great roster and crew. And I plan on continuing in the business side of pro wrestling. I look forward to seeing where Anthem’s leadership takes the company in 2017, and wish them the best.”

With regards to what’s next on the cards for TNA, Anthem is soon to announce of its majority ownership in Impact Ventures. With this takeover, there are several changes to be expected in TNA's internal structure, both from a staffing and creative standpoint.

The plan initially was to let Anthem have 85% ownership of the company, 10% for Aeroluxe and a mere 5% for Dixie Carter, leaving her in a position to profit if the company was to take off in some time in the future. However, she would still be pretty much out of power, when it came to decision-making for the company.

When and if such an announcement takes place, instead of Anthem’s Ed Nordholm making all the decisions and being the CEO, Aurolexe’s Jason Brown, would take up the role of the CEO of Impact Ventures position, of deciding on how to go forward.

However, TNA is still slated to film the upcoming Impact Wrestling episodes in the first week of January at Universal Studios in Orlando, Florida.

For latest WWE News, live coverage and rumours visit our Sportskeeda WWEsection. Also if you are attending a WWE Live event or have a news tip for us drop us an email at fightclub (at) sportskeeda (dot) com. 

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