TNA becomes solvent as Anthem Sports & Entertainment Corp. announces credit facility extended to TNA operations (w/Keller’s Analysis)

By Wade Keller, PWTorch editor


After Monday’s court ruling blocking Billy Corgan from taking over TNA operations, Anthem Sports & Entertainment Corp. has officially announced it has provided a “credit facility” for TNA to fund operations.

Anthem operates Fight Network, the exclusive broadcast partner of Impact Wrestling in Canada, as well as worldwide digital streaming of TNA programming. It also has an equity stake in Impact Ventures, which owns controlling interest in TNA.

“We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.”

Leonard Asper, the CEO of Anthem, says the financing is an extension of the support they’ve been providing since the start of the year. “We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that,” said Leonard Asper, CEO of Anthem, in a press release issued to PWTorch today. “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”

Meanwhile, Billy Corgan is out as President of TNA. He said on Twitter today that he is still waiting to be reimbursed, as Anthem vowed to do in court. “FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to ‘get $ together’,” he wrote.

Keller’s Analysis: Anthem is a well-funded, deep-pocketed partner for TNA Impact Wrestling and it’s hard to imagine they’d want to further damage the reputation of TNA as a company that doesn’t pay its bills or debts. I suspect Corgan will get paid, but the delay just adds to my sense that Anthem and Impact Wrestling aren’t organized enough to deal in good faith with people they do business with. As Bruce Mitchell wrote about in this week’s PWTorch Newsletter for VIP members, it’s time for everyone associated with TNA to start changing that reputation and building some goodwill in the community in which they aim to succeed and attract loyal fans, not to mention among their wrestlers and business partners. This can be a very exciting and encouraging time for the pro wrestling industry in the United States with Anthem backing the continuation of TNA Impact Wrestling and FloSports injecting new revenue and opportunities into various indy promotions via their streaming platform. The late payments and sense of disorganization and/or bad faith execution of deals just needlessly undercuts those vibes.

7 Comments on TNA becomes solvent as Anthem Sports & Entertainment Corp. announces credit facility extended to TNA operations (w/Keller’s Analysis)

  1. In a reality, if I were running TNA. Do I want a multimedia entity like Anthem Sports, which provides potential avenues for TNA to grow on TV, international and online. Or do I go with Billy Corgan, legendary rock star who has no real experience with this new wave of media. Has connections to better people and maybe gives TNA more exposure. But can he grow it as a TV product and digitally? He doesn’t have expertise there.

    Having Anthem in charge of TNA could be a blessing in disguise.

    • It’s just a shame that they couldn’t work it out so that Anthem AND Corgan could be involved. I think Corgan brought some good ideas to the company as well as injecting some better ring entrance music. Having him as the authority figure President–and minimizing Dixie Carter’s on screen and booking role–was good for the company.

  2. Billy Corgan needs to be paid off and go back to making music and get away from TNA. Anthem running TNA will be great as long as they pay their bills. I honestly do not care about TNA at all and stopped watching it after Hulk Hogan left and Velvet Sky left.

  3. Anthem would do well to rebrand TNA entirely and dump Dixie and any semblance of previous ownership/leadership from the company to start fresh. They have the rings, equipment and talent contracts to start anew and they really should consider that TNA is such a tainted brand it may be impossible to overcome public perception about that company and it’s worth these days.

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