TNA Update: What is going on Now

So things have been anything but easy recently for TNA Wrestling as talks of the company being in bad financial shape have been dominating the internet world and if that wasn't enough talks of the company sold were just as talked about. Now the company has been sued by assumingly former employee Billy Corgan for complete control of the said company which would take control away from the Carter family.

In late September, Billy filed a restraining order against TNA and officially took TNA's parent company, Dixie, Serge, and others to court. Mr. Corgan stipulated that he has been lied to and kept out of the loop per-say by those in charge of the company since he began with the company and due to his investment and interest in the company he feels that is in violation of the agreement he and Dixie signed back a few months ago that made him President of the company. As of last week Billy tried to prevent TNA from operating without him, but a court has ruled against him which allows TNA to operate without Billy Corgan and this likely spells the end of Billy in TNA.

So what happens next? Well apparently the company Anthem Media (the parent company of the Fight Network) financed the last set of tapings before Bound For Glory and is likely going to be the ones who finance the upcoming set of tapings. According to the latest report if Anthem does in fact finance the tapings they will gain majority control of TNA. This would mean that Anthem would hold 85% ownership in the company while Aroluxe would maintain a 20% stake and that would leave Dixie with a 5% share of the company. I know they aren't reading this but if someone from Anthem does happen to read this follow the lead of Billy Corgan and repackage TNA as that is the only way to save this once potential ridden company. For more on this subject confer with your local dirt-sheets or you can wait and hope for the best like the rest of us.