Rumors have been floating over the past week or so that TNA owed money to a number of different companies and people. It looked like the end was near for the company and the walls were closing in fast. It looks like TNA has been saved, at least for now.
Anthem Sports & Entertainment Corp. released a statement on Wednesday. Anthem is the parent company of The Fight Network:
“Anthem Sports & Entertainment Corp. (“Anthem”), the parent company of Fight Network, today confirmed that it recently made a working capital loan to fund the operations of TNA Impact Wrestling. Fight Network is a licensee of TNA programming for broadcast in the U.S., Canada and other international markets, and is also the exclusive licensee of TNA for streaming Internet-delivered TV.
Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company.
“TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth,” said Leonard Asper, CEO of Anthem. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content” (Source: Fight Network).
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Good news for TNA in the short-term. Not sure what it means for them long-term. How long can they keep afloat doing the same things?
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