4. WWE Bids To Buy TNA Wrestling
The New York Post recently interviewed TNA’s Billy Corgan, who is in talks of becoming the majority owner of TNA Wrestling. The NY Post noted that WWE & Sinclair Broadcast Group (owner of ROH Wrestling) have made bids to buy TNA Wrestling. Below is what they posted:
On Oct. 2, the night of Impact’s banner pay-per-view event, “Bound for Glory,” Billy Corgan hopes to take that commitment to the max.
“I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going,” he said.
While Corgan wants to make the presentation as Impact’s new majority owner, he admits there’s still “a lot of people at the table.”
WWE and Sinclair Broadcast Group, owner of the Ring of Honor wrestling organization, are rumored to have made recent bids.
A complicated ownership structure also poses challenges in getting every stakeholder on the same page. In addition to majority owner and Chairwoman Dixie Carter, Corgan, Aroluxe Marketing and Canada’s Fight Network all have equity stakes.
Meanwhile, the Nashville, Tenn.-based company is so financially strapped that investor and working-capital provider Aroluxe has reportedly taken over its “TNA” (Total Nonstop Action) trademark.
Corgan says the relevant parties have agreed on a sale price. Although he can’t reveal the figure, an estimate based on publicly traded WWE’s market value of two times revenue would put it at around $40 million.
