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Showing posts with label Dixie Carter. Show all posts
Showing posts with label Dixie Carter. Show all posts

February 19, 2017

Jeff Jarrett and Ed Nordholm Speak Candidly About Dixie Carter's Handling of TNA

Jeff Jarrett and new TNA Impact Wrestling President Ed Nordholm recently spoke to Newsweek.com about taking over the reigns of TNA. Jarrett and Nordholm had the following to say about Dixie's handling of TNA:

Jarrett: "It was a black-eye on the industry. It wasn’t fruitful for anyone—whether you’re a fan of, a wrestler, an employee. It was a really ugly, unfortunate situation. It wasn’t good for the industry."

Nordholm: "The buck has to stop someplace. The reality is the company got into a dire position and she was CEO. There was never any question [she wouldn’t be involved in the day-to-day operations], but not out of any particular animosity. If we’re going to invest...we’re owner-operators, we’re not passive investors. If we’re going to own it, we’re going to own it."

You can read the full article here.

January 4, 2017

Anthem officially announces it has acquired control of TNA Impact Wrestling. Dixie Carter resigns as chairman

Anthem Sports & Entertainment have announced they've formed a new company that will be the parent company of TNA Wrestling. The company, called Anthem Wrestling Exhibitions will be overseen by Ed Nordholm as President.

Dixie Carter has resigned as Chairman of Impact Ventures, the former parent company of TNA. She will remain with Anthem in an advisory role and a minority equity shareholder.

Below is the official press statement:

Anthem Sports & Entertainment Forms Anthem Wrestling Exhibitions, LLC., Acquires Control of IMPACT Wrestling

Toronto, Canada (January 4, 2017) - Anthem Sports & Entertainment Corp. today announced it has entered into a definitive agreement to acquire a majority interest in TNA IMPACT Wrestling, and has formed Anthem Wrestling Exhibitions, LLC. Anthem also owns Fight Network, the world’s premier 24/7 multi-platform channel dedicated to complete coverage of combat sports, which is IMPACT Wrestling’s exclusive broadcast partner in Canada and worldwide digital partner.

“We are thrilled to have acquired TNA IMPACT Wrestling,” said Ed Nordholm, Executive Vice President of Anthem Sports & Entertainment Corp., the parent of Fight Network. “As we grow Anthem’s linear, digital and mobile platforms globally, top tier content with global appeal is key to that success and this acquisition is a perfect strategic addition to our portfolio. IMPACT has been a dominant wrestling brand around the world for more than a decade and we are confident that Anthem can leverage its assets and strategic partnerships to take IMPACT Wrestling to even greater heights.”

Mr. Nordholm, who has been the managing director of the IMPACT Ventures Board of Managers since October 2016, will assume the position of President of Anthem Wrestling Exhibitions, LLC. Dixie Carter will resign from her position as Chairman of Impact Ventures and join the Advisory Board of Fight Media Group, which holds all of the combat sports-related assets of Anthem, where her focus will be on the global growth of the combat sports-related brands owned by Anthem.

“Anthem has been a great partner for many years,” added Dixie Carter. “We have worked hard to find the right company who would acquire TNA, use its strategic influence and have a long-term commitment to the brand. TNA’s incredible fans, talent and staff deserved to see the brand continue to thrive after 15+ years of incredible growth. I’m excited to move to a new position and work with Anthem on their global strategic plan, and I am confident TNA IMPACT Wrestling is going to be a huge part of their success.”

Ms. Carter will remain a minority equity stakeholder.

December 1, 2016

Billy Corgan On Dixie Carter, Being Lied To About WWE, TNA Settlement, Future Litigation

Former TNA President and Smashing Pumpkins frontman Billy Corgan spoke with PWInsider.com's Mike Johnson following his recent settlement with TNA and Anthem Media & Entertainment. While Corgan is happy with the deal and believes Anthem is in the best position to take over TNA, he has not waived his right to pursue legal action against certain individuals involved in the matter. Corgan called being portrayed as a 'predatory lender' by TNA's legal team "laughable". Also, Corgan discussed being lied to about negotiations with WWE, and whether Dixie Carter is dumb.

Although Corgan said he is "very happy" with the settlement and he admitted that he feels Anthem is the best to take over TNA, he is not releasing all claims against "certain people".

"In making this deal with Anthem, and I'm very happy with the deal, and I do sincerely wish them the best. I think they are the best people that have taken over the company, given the circumstances as they've played out and from what I know now. With that said, in the deal that I made to make this finally resolve and as [Johnson] said in the beginning of this and I've seen other headlines, I did not release all claims involved in this matter. And I specifically put in the paperwork that there were certain people I was in business with within the company that I still have the ability to go after directly."

November 8, 2016

Dixie Carter Holds Call With TNA Roster, Talks Creative Changes, New Anthem Agreement, More

Dixie Carter held a conference call today with the TNA roster and other employees, according to PWInsider. The call was described as a "rah rah" call with Dixie saying lots of things within the company had changed since the locker room meeting in Orlando on October 3rd.

Dixie officially introduced Anthem Sports & Entertainment's Eric Nordholm as a member of the Board of Managers and said the Board will be guiding TNA going forward. Dixie praised TNA's new relationship with Anthem and said they have injected capital & resources into the company that will bring it to the next level.

Nordholm also addressed the roster and praised them for their hard work. He also said the new agreement will be a great opportunity for both The Fight Network and TNA.

It was noted that TNA is looking at getting back to running live events and strengthening their relationship with their Indian TV partner, Sony Six. The idea of an over-the-top streaming network featuring TNA content was also mentioned.

Regarding TNA creative changes, Dixie confirmed that Billy Corgan is no longer with the company and that David Lagana resigned last week. Dixie said going forward, they will be going back to a collaborative effort with John Gaburick, Matt Conway and Madison Rayne but they are looking to hire more writers to work creative.

November 3, 2016

Billy Corgan No Longer With TNA, Dixie Carter Effectively Out of Power, New TNA Relationship Announced

The following press release has been issued, announcing Anthem Sports & Entertainment will now be funding TNA:

Anthem Sports & Entertainment and Impact Ventures Announce Credit Relationship

Toronto, Canada (November 3, 2016) – Anthem Sports & Entertainment Corp. and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations.

Anthem Sports & Entertainment Corp. is a global sports media company that operates Fight Network, Impact Wrestling’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures.

The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.

“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.”

“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. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “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.”

October 31, 2016

TNA Court Ruling, Who Will Be In Charge

Chancellor Ellen Hobbs Lyle today ruled against Billy Corgan's request for a temporary injunction against TNA, which would have prevented the company from making major business decisions or sell the company without Corgan being involved in the decision. TNA can proceed to run the company without Corgan being involved.

Corgan will be paid back for the loans he made to the company, which are due tomorrow, November 1st. Corgan is effectively out of the picture, although he could still move forward with his lawsuit. Corgan had made three loans to the company, with the third one having a provision that would have granted him Carter's 92.5% voting rights. The judge ruled that the provision was unenforceable.

The company has until tomorrow, Tuesday, November 1st to repay Corgan's $1.8 million loan. Anthem Sports & Entertainment Corp., the parent company of the Fight Network, had previously agreed to repay Corgan, however were unwilling to pay a 50% corporate transaction fee, which would have been in the neighborhood of $900,000 of the $1.8 million loan. PWInsider noted that the court ruled that there is no reason for Corgan to be owed the transaction fee because there is no evidence on what has been filed so far that proves that there has been an acquisition of TNA and it's parent company. Corgan does have the option to convert that debt into a 36% ownership stake in the company, although that appears unlikely.

Assuming that Anthem repays Corgan, that would reportedly give them 85% control of the company, with Aroluxe having a 10% stake and Dixie Carter retaining 5%. Jason Brown of Aroluxe, who has been running the day-to-day operations of the company, is expected to take over as President. PWInsider had recently reported that with Anthem in charge, there would only be 3-4 television tapings per year.

October 26, 2016

Billy Corgan - TNA Lawsuit Update

The Tennessean’s Nate Rau is present at the Billy Corgan / TNA Wrestling hearing today, and is live tweeting some notes about today’s events (events from Rau’s account are summarized below):

It was noted that Dixie Carter is present, however Corgan is represented by his attorney, Scott Sims.

Sims claims his client saved TNA Wrestling on three separate occasions. Sims claims Corgan and Carter entered a pledge agreement that included an insolvency cause, and that TNA misled Corgan about the company’s various debts. It was noted that proving both of these points is crucial to the lawsuit.

Corgan was named President of TNA, but excluded from management decisions, and there is no doubt TNA is insolvent. In regards to a transfer of ownership, TNA’s defense argues no deal making Corgan owner was approved, and Sims says they ‘basically have a pledge with a voting proxy.’

It is said by TNA that financial situation is the same as when Corgan signed his pledge agreement, but Sims says Corgan did not know how much debt TNA was in when he put up money to finance tapings. TNA says talents not being paid is due to the lawsuit, but Sims says it is untrue and TNA is insolvent, noting a 52% increase in liabilities since June, and argues total debts are likely higher.

Sims confirms WWE negotiations, saying there’s been no effort for TNA to assign a value to assets, including the TNA video library, and that WWE submitted a lower offer than their first one.

Sims says WWE’s offer is lower than Corgan’s estimate of TNA’s total liabilites. It is argued in defense that WWE and others may have offered to invest in TNA, but it does not prove the company is not insolvent. Rau notes Sims said Corgan is owed $1.8 million from Anthem, who owns the TNA video library license rights.

Anthem’s previous press release about funding TNA is referenced, noting Corgan’s debt would be paid, and Aroluxe’s Jason Brown would become new CEO. Sims says Carter made Corgan an offer to buy her out, then says she emailed WWE to say she won’t sell to them until Corgan is gone. This would conclude Sims’ argument, with TNA lawyers set to speak.

October 25, 2016

More From Billy Corgan's TNA Lawsuit: WWE, Replacing Management, Wanting Control Of The Company

A redacted version of Billy Corgan's lawsuit against TNA was unsealed today. A lot of it was information that was already known, but here are some details from the lawsuit courtesy of The Tennessean:

* Dollar figures and other details regarding the company's operations were blacked out.

* A hearing is scheduled for this Wednesday.

* Corgan granted an injunction wanting control of the company. He claims that he entered a loan agreement with Dixie Carter who agreed to give Corgan 100% of her stake in the company. Corgan says that the agreement was not honored and he has not been granted control of the company.

* On October 12th, Corgan notified the defendants that he was exercising his right, as holder of (Carter's) voting rights in Impact Ventures, to remove all of the company's managers and have them replaced with his own team.

* Corgan said that the company is "insolvent," meaning that they are unable to pay their debts and their liabilities exceed the value of its assets.

* TNA owed money to Aroluxe Marketing. Corgan invested month into Impact Ventures in order to prevent the company from defaulting on their debt to Aroluxe, which would have allowed Aroluxe to foreclose on TNA's assets.

* It was noted that TNA entered into debt-equity agreements with The Fight Network's parent company, Anthem Sports & Entertainment Corporation, which owns the licensing rights to its video library.

* Corgan said that Carter told TNA talent that WWE was looking to but its video library and asked that his loan agreement be recognized, which would allow him to take over the company.

October 24, 2016

TNA Files Legal Response to Billy Corgan Lawsuit, Details on What Happens Next and the Chances of a Settlement

According to PWInsider.com, earlier this afternoon in a Nashville Chancery Court, TNA filed a legal response to Billy Corgan’s lawsuit. The response documents remain sealed, but the report noted 12 pieces of material were submitted to support a defense argument TNA is making regarding the proof of solvency, which was originally published in a 2007 article in The Business Lawyer. As noted, Billy Corgan previously claimed TNA is insolvent, which in legal jargon means a person or persons has ceased to pay its debts in the ordinary course of business, or cannot pay its debts as they become due, or is insolvent within the meaning of the Bankruptcy Code. TNA will attempt to use the 2007 Business Lawyer article about proof of solvency as precedent in the case, as Dixie Carter is claiming the company is not insolvent.

Furthermore, PWInsider is reporting Billy Corgan’s lawyers will file a redacted version of their lawsuit tomorrow at around 3pm. The lawsuit will be redacted as Corgan feels there are details in the lawsuit that should not be made public, as they could be harmful to TNA if discovered by competitors.

It’s being said any chance of a settlement in the case will hinge on what transpires in the next twenty-four hours, to prevent Corgan’s allegations against TNA from becoming public record.

October 22, 2016

Bruce Prichard discusses how TNA botched Bobby Roode’s contract talks in 2013, Dixie Carter’s mishandling of talent pay

On this week’s episode of Bruce Prichard’s podcast “Something To Wrestle With,” the main topic of discussion was Prichard’s run with TNA Wrestling. Prichard joined the company in 2010 and eventually became VP of Talent Relations. He worked with TNA until July of 2013.

There are tons of TNA stories included in the podcast but one of the most interesting stories is about former TNA World Champion Bobby Roode. Prichard said that, in 2013, Roode’s contract was supposed to roll over for another year so essentially TNA had the option to extend it for one more year. Prichard said that he signed it well ahead of time and he had the emails and copy of the signature. Prichard said that he got a call from Roode saying that his contract expires in 3 days and he had not heard anything from the TNA office. Prichard responded, “Bobby, I sent you an extension. I signed your roll over a couple of months ago.” Prichard then forwarded the email to Roode but this was the first time that he had heard about any of this. Roode’s contract stipulated that he had the option to negotiate elsewhere if TNA did not sign off on the rollover.

Prichard went to the person that was supposed to mail out the original signed contract that was supposed to be sent to Roode and he says that the person told him that she mailed it out so he asked for a copy of the bill showing that it was mailed out. Prichard said that her face (the person at the TNA office) kind of went white like she saw a ghost and said “well, I don’t know if I can get that.” Prichard was told that there was a problem with their FedEx account so they were only using UPS. Prichard knew at that point that the roll over contract was never sent out to Roode. Prichard said that “the folks that were in charge of actually doing that felt that Bobby Roode wasn’t necessarily necessary and that if his contract expired then they wouldn’t be obligated to pay him what his contract called for and they could renegotiate at a lower rate. The problem with that is that Bobby Roode was worth every penny that he was being paid [and] probably more. The other thing about it was that we had him figured into our [creative] plans. We had long-term plans with Bobby.”

October 21, 2016

Billy Corgan Says TNA Is Insolvent; Corgan To Approve New Business Deals, Tape Library Note

Court documents in Billy Corgan's lawsuit against TNA and others were unsealed today. One such document, a temporary restraining order against the defendants (TNA, TNA's parent company Impact Ventures LLC, Dixie Carter, her husband Serg Salinas, and TNA Chief Financial Officer Dean Broadhead), revealed that Corgan claims that Impact Ventures is "insolvent."

In part, the order provides that Corgan "is likely to prevail on the merits of its claims because Impact Ventures LLC is insolvent, and, as a result, plaintiff is entitled to exercise controlling voting rights in the company."

Also, the order dictates that TNA and Impact Ventures are prohibited from taking any action without Corgan's consent. Essentially, this means that TNA cannot enter into any new business deals without Corgan's approval.

Additionally, neither side of the litigation may sell TNA or its tape library until ordered by the Court. This development may put TNA in a difficult position; however, it also prevents Corgan from selling his claim to TNA to a third party.

October 13, 2016

Billy Corgan Reportedly Suing TNA

TNA President Billy Corgan filed a lawsuit against Impact Wrestling, parent company Impact Ventures LLC, TNA Chairman Dixie Carter, TNA Chief Financial Officer Dean Broadhead and Dixie's husband Serg Salias in Chancery Court in Nashville on Wednesday.

A temporary restraining order was approved and Corgan filed a bond to support it today. A hearing for a temporary injunction has been scheduled for Thursday, October 20th at 11:30am local time. Corgan has requested a six-person jury to decide the case.

TNA Sale News: WWE Loses Interest Again, Huge Dixie Carter Heat, TNA Executive Contacted WWE, More

Regarding the TNA sale, Aroluxe and Billy Corgan are still involved in trying to make the purchase but one unidentified party that was previously involved is no longer interested as they do not feel a deal is worth it. WWE has also apparently lost interest as they have backed out.

The most recent set of Impact Wrestling tapings were the first that saw Billy Corgan have the final say in creative decisions. However, nothing long-term has been decided on, according to the Wrestling Observer Newsletter, but changes have to happen imminently. We noted before that Dixie Carter was in attendance for the tapings and did hold a talent meeting but she wasn't there for the final days of the tapings and was reportedly having meetings with The Fight Network, which also owns a small stake in TNA.

Things between Dixie and Corgan have reportedly gone really bad and things are said to be "super heated" between Dixie, Corgan, Aroluxe and John Gaburick. It was noted on Wrestling Observer Radio that Dixie has made a real mess of the company between borrowing money and putting up various stakes in the company just to get quick funding. It was said that the company is in a "disastrous position" right now. There is also heat on Dixie for deals not getting done and nearly falling apart.

TNA still owes money to many people and continues to deal with other financial issues but right now they're not faced with another deadline for money until January and that's when they have some international TV revenue coming from.

There's still no word yet on where TNA got the money for the most recent tapings but it was not WWE, which has been rumored. Some higher-ups in TNA still don't know who funded the tapings but speculation is that it was one of the three minority owners - Corgan, Aroluxe or The Fight Network.

Regarding WWE no longer being interested in the tape library, Gaburick did go to WWE's Kevin Dunn with the idea of a package where WWE would hire Gaburick if he got them the tape library deal. Dunn reportedly went to Vince McMahon with the idea but it looks like the deal won't be happening. The Observer notes that WWE's involvement has been up and down for weeks.

October 4, 2016

Dixie Carter Holds Talent Meeting at TNA Tapings Last Night, Addresses WWE Wanting to Buy TNA, Late Pay Issues, TNA Power Struggle & More

According to PWInsider.com, TNA Chairman Dixie Carter held a talent meeting backstage at last night’s TNA Impact Wrestling tapings. During the meeting, Carter took questions from the talents, and addressed a number of current issues.

One of the questions asked by talents regarded late pay, and Carter explained that sometimes pay is late because TNA is waiting on money owed to the company so that they can pay out the talents.

On reports of WWE potentially purchasing TNA, Carter acknowledged WWE wanted to purchase the company, but she said she would not let that happen. She added the TNA tape library is still under TNA ownership.

Carter also reaffirmed that she is still the majority share holder in TNA, but she did say there has been some “in-fighting” and power struggle amongst company owners.

With regards to Bound for Glory, Carter admitted the company “scrambled” leading up to the PPV, but said the PPV was never “not going to happen.”

Overall, Carter reportedly acted surprised that people in TNA were so “up in arms” about the status of the company, but she did apologize if there has been concern or worry on behalf of talents and employees. At the end of the day, the general feeling in the locker room is that while there remains concern regarding the future of the company, there was respect for Carter stepping up and addressing the locker room.

August 29, 2016

Rumor Mill - Dixie Carter Said To Be 'Pretty Much Done' With TNA

On last night's episode of Wrestling Observer Radio, Dave Meltzer commented on the ownership situation in TNA following the announcement that Billy Corgan is the new President of TNA. Meltzer noted that former TNA President Dixie Carter is pretty much done with the company.

"Dixie's pretty much out of it now," Meltzer said. "She's out of power completely, she is completely out of power no matter what's said, but she may be gone."

Meltzer noted that Dixie was at the last set of television tapings and was there for some of the segments that were filmed, but that she left shortly after that and didn't stay for the whole week. He added that "there were some things said that were not so great about her."

"She's pretty much on her way out," he added.

As noted, Corgan appeared on Vince Russo's podcast last week and discussed his new role with the company. He said that he has an ownership stake with the company, and that it is a "fluctuating situation" that is moving "progressively into the right direction." He said that there are moves being made and that there were all good moves, but would not confirm if Dixie still owned a majority stake or not.

August 15, 2016

Billy Corgan named new president of TNA Wrestling

IMPACT Ventures [IMPACT], the parent company of TNA Wrestling and IMPACT WRESTLING, today announced the appointment of Billy Corgan as its new President. Current President Dixie Carter becomes Chairman and Chief Strategy Officer of IMPACT.

As President, Billy Corgan will be responsible for leading day-to-day operations for IMPACT and its affiliated brands. As Chairman, Carter will focus on long-term planning, strategic partnerships and global growth.

"Billy is a visionary, an iconic artist and savvy businessman with an incredibly gifted creative mind. He has built a decades-long successful global brand, and also has a deep passion and understanding for professional wrestling," said Carter. "In working with Billy over the last 16 months, he has impressed me to the point that I've been in discussions with him to take an elevated strategic leadership role within the company. The more we discussed our vision for the organization, the clearer it became that position needed to match his commitment."

"We are entering an exciting new era for IMPACT and will be working to continue to define our brand, develop global strategies for success, and structure for future investment and growth," added Carter. "These moves, effective immediately, signify the team's determination to work together to effectively cover more ground and capitalize on TNA's current momentum that has seen ratings rise in recent months."

Corgan, 49, is an American musician, songwriter, producer, TV writer and poet, best known as the lead singer, guitarist, and sole permanent member of The Smashing Pumpkins, who have sold more than 30 million albums worldwide and won multiple Grammy Awards. Corgan joined IMPACT in May 2015 as a senior producer.

"I believe in this company, its passionate fans, the talented roster and the dedicated staff and crew," said Corgan. "I am committed to this great opportunity and will use all of my resources and connections to drive the success of this company. This year we have made significant strides in establishing a strong foundation for our future and will be aggressive in continuing to evolve and grow the IMPACT brands."

IMPACT's flagship broadcast IMPACT WRESTLING airs Thursdays at 8/7c on Pop, and in more than 120 countries around the world.

June 12, 2016

New TNA Minority Owner Revealed

Smashing Pumpkins frontman and TNA's Senior Producer of Creative & Talent Development Billy Corgan is set to be TNA's new minority owner.

Corgan started working with TNA in April 2015 but is now moving into a new role after purchasing a minority stake in the company. PWInsider notes that some sources say the deal is done while another says it's moving in that direction but not 100% complete.

Dixie Carter will retain majority ownership, something that she did not want to budge on during negotiations.

April 28, 2016

Rumor Mill - ROH Owners Interested In Purchasing TNA Wrestling?

Rumors have been flying for weeks about the possible sale of TNA Wrestling, and a new development has occurred, which has put the owners of Ring of Honor in play.

Ring of Honor owners Sinclair Broadcasting have also been surrounded in rumors that they'll be re-branding the Tennis Channel as the American Sports Network. With that, they'll likely be expanding their sports content, and Ring of Honor could fit well in that programming schedule.

According to Dave Meltzer on Wrestling Observer Radio, Sinclair Broadcasting has been rumored to show interest in acquiring TNA, but there are a lot of things in play. The main attraction as it pertains to TNA for Sinclair is that they have a large tape library, and have international TV deals already in place.

A big hangup on the sale continues to be that Dixie Carter is still hoping to retain majority ownership in the company. There have been negotiations with Aroluxe, but no sale has been completed as of yet.

As of now, the Tennis Channel has clearance in 40-50 million homes nationwide. Recently, Ring of Honor Joe Koff mentioned that there's a possibility that ROH TV could also expand to two hours of TV time per week.

April 19, 2016

Backstage Talk On TNA Possibly Owing Aroluxe A Payment, More On Dixie Carter, Panda Energy

As noted, major changes with TNA are expected to happen within the next few weeks as the company is essentially out of money and Dixie Carter has been negotiating with potential investors and partners.

We noted earlier that Dixie has been talking with Aroluxe Marketing, which former wrestlers The Harris Twins are involved with. Aroluxe has been working TNA production since January but they have also put money into the recent set of Impact Wrestling tapings, and possibly this week's tapings. PWInsider reports that their production deal sees Aroluxe cover everything needed for the tapings and then TNA reimburses them, and pays them for their services.

There's a story going around among the TNA wrestlers that a payment is due to Aroluxe this week. One version going around says the payment is due today while another says it's Wednesday. The story also says that based on terms of the deal, Aroluxe is able to claim majority ownership of TNA if the payment is not made. This would leave Dixie as a minority owner, something she's been trying to avoid during negotiations. PWInsider noted that they weren't able to confirm this part of the story but it's going around a large part of the roster.

PWInsider also confirmed that multiple parties are interested in a deal with Dixie. She's previously turned down all offers but with the company facing serious money problems, she may be forced to make a deal now. We've noted how Aroluxe are the favorites and The Harris Twins have been seen at TNA headquarters having meetings with various departments in preparation for a potential takeover if the sale goes through.

TNA's former parent company Panda Energy has no say in the matters as they haven't had any ownership for some time. Panda quit putting money into the company as far back as 4-5 years ago and removed themselves from TNA operations. Dixie has been the only TNA stockholder since she bought Jeff Jarrett's shares last year.

April 18, 2016

What Company Is TNA Negotiating With?, Backstage Updates On Dixie Carter And TNA Negotiations

The group that's a favorite to take control of TNA is Aroluxe Marketing, which former wrestlers Ron and Don Harris are involved with as main officers, according to Wrestling Observer Radio. The Harris Twins, who have worked for WWE, ECW, WCW and TNA, have been helping with TNA production for several months now.

Aroluxe is actually helping to fund TNA as they put up money for the last set of Impact Wrestling tapings, and probably will do the same for the tapings that begin later this week.

It was noted on Wrestling Observer Radio that Dixie Carter has other deals she's working on but word is that the other people she's talking with don't like her terms. Dixie reportedly wants to retain control of the company with 51% of ownership. Dixie is trying to make money on the deal and still own a majority of the company, which is going to be hard to do.

As noted, the feeling is something has to happen soon as the company is essentially out of money.

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