Fight Network Offers To Pay Off Billy Corgan’s Loans to TNA; Hearing Delayed

[cero2k]

Source: sescoops.com

The Live Audio Wrestling Twitter account, which is run by John Pollock and part of the Fight Network family, tweeted the following on Wednesday afternoon:

The first tweet alludes to the Davidson County Chancery Court website reflecting a delay in Billy Corgan’s lawsuit against TNA. The first hearing in the case, originally set for tomorrow (Thursday/October 20th), has been rescheduled for next Wednesday, October 26th. The temporary restraining order that Corgan got against TNA last week will be reevaluated at that hearing, and the judge will hear his request for a temporary injunction. With the lawsuit sealed, it’s still unclear what specifically he’s trying to stop.

The second tweet refers to Anthem Sports and Entertainment, The Fight Network’s parent company, who funded the last two sets of TNA both directly and then indirectly through sister company MCC Acquisitions. It appears that Anthem is about to officially announce that it is funding TNA to offset the debts to Corgan. As we’ve reported previously, the state of Tennessee only has a record of Dixie Carter being indebted to Corgan personally, and it’s not yet known if that complicates this deal at all.

More on this as it develops.

[cero2k]

no one likes TNA more in this site than me, and even I'm baffled that people still wanna put money on it

[Big Red Machine]

no one likes TNA more in this site than me, and even I'm baffled that people still wanna put money on it

Timeslot. Without TNA the current entity there is no guarantee of getting a timeslot- especially a paying one. I'm sure Sony 6 won't be making any deals with a new company based on their experiences with TNA and there is no way that anyone in the US or UK would give a new company a better deal than what they've already given TNA.

[cero2k]

no one likes TNA more in this site than me, and even I'm baffled that people still wanna put money on it

Timeslot. Without TNA the current entity there is no guarantee of getting a timeslot- especially a paying one. I'm sure Sony 6 won't be making any deals with a new company based on their experiences with TNA and there is no way that anyone in the US or UK would give a new company a better deal than what they've already given TNA.

but at this point, how valuable is that time slot? PopTV reportedly doesn't pay TNA anything for the show, some of the international contracts may be cancelled since TNA hasn't fulfilled their part of the bargain, Fight Network already has them so are they really putting money so the show they already show can be other places? Initially the TV + PPV deals were definitely worth it, but now knowing that they are 5M+ in debt, not sure who good they are

[XIV]

TNA has to look at cutting their losses. I know that once upon a time WWE was very close to closing their doors, but there was no way it is was as messy as this, unpaid loans, unpaid workers, various lawsuits, injunctions, restraining orders. The whole thing has gotten out of control.

It's like TNA is taking its dying breaths, and the kids are all arguing about the will too much to do anything actually decent to stop the rot, turn it around or let it die with dignity.

[Big Red Machine]

TNA has to look at cutting their losses. I know that once upon a time WWE was very close to closing their doors, but there was no way it is was as messy as this, unpaid loans, unpaid workers, various lawsuits, injunctions, restraining orders. The whole thing has gotten out of control.

It's like TNA is taking its dying breaths, and the kids are all arguing about the will too much to do anything actually decent to stop the rot, turn it around or let it die with dignity.

The impression I got from Meltzer is that it's really Dixie who is the hold-up because she is still looking for a way to be in charge but Corgan and other potential buyers/controllers (Aerolux, Fight, whoever else) don't want Dixie around anymore.

[cero2k]

Just listened to WOR, they're speculating that Fight Network is saving TNA and getting rid of Corgan so once TNA can't pay the loan, they keep the library. But yeah, seems like Dixie stays once again