WWE News: Update on WWE buying TNA
Will WWE buy TNA Wrestling just to shut it down?
Of late the rumor that has been surrounding WWE has been a potential business transaction that could mean a huge takeover where Vince McMahon is planning to purchase TNA, to integrate the company with the WWE brand.
There have been many speculations about TNA going up for sale for a couple years now but nothing has come to fruition. Billy Corgan, wrestling promoter and Smashing Pumpkins frontman recently took over the reins of the company and became president and he is looking to become the principal owner. The current major owner of TNA, Dixie Carter has made some bad decisions over the past few years.
She was accused of signing some wrestlers that she grew up watching but who weren’t, in fact, good for the show. She had hired former WWE and WCW superstars such as Hulk Hogan and Eric Bischoff whose egos are actually bigger than their names.
TNA's future still hangs in the balance as rumors continue to fly around. Just a few days ago, WWE was announced to be a potential bidder to buy the company.
TNA hasn’t always been able to get in the sort of viewership WWE attracts every week, pulling in millions of people week after week to watch their flagship show Monday Night RAW and SmackDown Live! However, TNA Wrestling has had some success in churning out some top stars that are making an impact in WWE. Names like AJ Styles, Austin Aries, Samoa Joe, Eric Young and Bobby Roode come to mind.
Apparently, WWE is interested in acquiring TNA only for its video archives. If no one bids for TNA, WWE might just swoop in and seal the deal for themselves. WWE is most likely to shut down the company and just use TNA’s huge video library to make DVD's and shows on the WWE Network.
Richard Morgan of the New York Post reported that the WWE as well as Sinclair Broadcasting Company, which owns Ring of Honor, made bids to purchase TNA from Carter and Corgan. However, nothing has been substantiated yet.
Dave Meltzer of the Wrestling Observer reported TNA is looking to sell for about $4 to $6 million. This sale will in turn finance the next round of television tapings of Impact Wrestling starting from October 2.
Corgan on the other hand, wanted to sign a deal by the time 2 October rolls in for airing Bound for Glory. Going by this piece of information, it shouldn’t be long before we find out what happens to TNA Wrestling.
It would disappoint a lot of fans if WWE decided to purchase the company and then just shut it down. However, it also doesn’t seem to add another brand in the mix when RAW, SmackDown and NXT are doing so well on their own. But an angle between NXT and TNA in the New Era could be a refreshing change.
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