Backstage Update – The Potential Sale Of TNA Wrestling

Source: The Wrestling Observer Newsletter

According to sources, here is the latest on the potential sale of TNA. Billy Corgan is the President, is running the company and looking to purchase full control. Dixie Carter is largely out of decision-making power, but owns 70% of the company at this time. She knows that she needs to sell because the company needs the money to go forward, and also because the company is deep into debt.

In regards to Sinclair (ROH’s parent company) and WWE being interested, they are obviously for different reasons. Sinclair was reportedly interested a few months ago, with the reason being that they would get television contracts for India and England that pay and national exposure in the US on Pop TV (on top of their syndication). WWE has always been interested in the TNA tape library.

WWE traditionally pays $500 an hour when acquiring tape libraries, and would likely offer TNA around $1 million for the library. With WWE having more former TNA talent under contract, the value is greater than ever. The feeling is that WWE would only be the winning bidder if there was a TNA fire sale and the company went under.

There is another serious bidder involved, who wants to get into the pro wrestling business for the content it offers. This company would want to do live events and also work with the major domestic (not WWE) companies as well as international companies in terms of using talent. This company would be looking at making a lot of different moves into wrestling, with a potential TNA purchase being only one of them.
Arlouxe is still a potential buyer; they are the creditor that TNA owes the most money to. There are those involved with the company that feel with all the debt, that the company may be forced into bankruptcy. Carter is looking for $4 million to $6 million for her 70%.

Even if TNA gets a new buyer, the company will have to find new revenue streams. The UK and India TV deals aren’t enough to cover all expenses and are their major revenue streams. The average TNA TV taping costs $600,000 to $800,000.

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