World Wrestling entertainment is in negotiations to buy Total Nonstop Action [TNA] Wrestling as a result to Billy Corgan’s lawsuit against impact ventures.
The Fillings which was released to the public ,Total Nonstop Action Wrestling President and Smashing Pumpkins frontman Billy Corgan’s lawsuit which was against the company has revealed that TNA wrestling is unable to pay back debts and is apparently in talks to be sold to World Wrestling Entertainment.
Corgan filed an authoritative warning arguing that he should be granted full control of TNA, he made a loan agreement to TNA chairwoman Dixie Carter, who in turn pledged 100 percent of her equity interest in the company.
TNA made its debut in 2004 on Fox Sports Net in the aftermath of the “Monday Night Wars” that saw Vince McMahon President of WWE buy his competition, Ted Turner’s World’s Championship Wrestling [WCW] in 2001 and Extreme Championship Wrestling [ECW] in 2003
While the ratings couldn’t quite compare, TNA was founded by Jeff Jarrett, a wrestler who has a real-life rivalry with McMahon that is said to extend beyond wrestling storylines. TNA also became a home for former WWE superstars Jeff and Matt Hardy, Kurt Angle, Hulk Hogan and also helped make others like current-WWE Champion A.J. Styles a hot property.
WWE is looking to buy TNA assets, with a big focus on the company’s video library. Whether or not they’ve want to continue the program or pull any of the talent was not mentioned. Although anybody who knows their wrestling history recalls that while there was hope that WCW and ECW would remain in some capacity, eventually WWE folded up shop on both promotions, and the best of both of them are distant memories we can access on the WWE Network.