TNA Deathwatch: Die Another Day

[CuJ0 Will Keep Dancing]

I like to think that Anthem buying TNA is like when Burns sold his power plant except instead of Germans it's a couple of nice Canadians ignorant about what they're getting into.

[Final Countdown Jones]

Considering the apparent numbers and actual ownership percentages, Billy couldn't even throw much of a wrench into the plan if he took 36% of the company out of Dixie's hands. Anthem would still buy her out to the tune of a majority stake and still be able to call all the shots and overrule everyone. I don't see any sensible reason to stay in this. They've made a mockery of his actual role as president and dicked him around in so many ways that if he can't get enough of the company to take control I don't see there being any reason to take any of it. The company doesn't make any money, which means he'd be holding 36% of shit-all, and he'd be in a room full of people who seem to think that he's a chump to be taken advantage of.

Congratulations, Dixie, you found the one nutjob who loved wrestling enough to keep your company up and running, and decided to make a joke out of him just to keep a couple tapings rolling. Way to f***ing go.

[Confused Mark Wahlberg]

Oct 31, 2016 14:28:09 GMT -5 J Lee O'Brien said:

Corgan's motion struck down, per Tennessean reporter.

Dammit, Billy you had ONE job!

And your T-shirts are too tight too!

[FHgrad99]

Dixie Carter is becoming the Teflon Don of professional wrestling. No matter what happens she finds a way to escape.

[Captain Stud Muffin (BLM)]

Oct 31, 2016 15:17:10 GMT -5 FHgrad99 said:

Dixie Carter is becoming the Teflon Don of professional wrestling. No matter what happens she finds a way to escape.

Following the tracks of Gotti and Capone her fall will be horrible. 

[Captain Stud Muffin (BLM)]

Also, I wonder how the roster reacts to this.

It is all for sure that Billy role in TNA is over.

[Alyce: Old Media Enthusiast]

[MGH]

[StuntGranny®]

Dixie Carter is human garbage. If karma is a thing (And I don't mean Awesome Kong), she's got a whole lot of bad coming her way. I feel sorry for the roster for having to work for the piece of shit.

[The Blue Nova]

Honestly I do not think TNA will ever die at this point sadly

[Captain Stud Muffin (BLM)]

Oct 31, 2016 15:25:25 GMT -5 MGH said:

The character mike bennett is booty cheeks but the person seems like a clown in the good way. At least he is having fun with it

[Heartbreaker]

OH MY F***ING GOD

What ends first? The Simpsons or TNA's existence?

[benstudd]

Oct 31, 2016 14:40:57 GMT -5 xCompackx said:

I wonder whether Dixie's going to go back to WWE with an offer for the tape library now. Which would probably give them enough money for... one set of Impact tapings. f***'s the point of this, again?

I think The Fight Network has the library now. 

As for Billy, he has money, doesn't need the 1.8, it never was about that, it was about taking control of the company.

I think he should take the 36%, that's a large stake. He can slowly take control down the line with buying the others. 

I don't get the Aoflux guy running the business though. 

[Ringmaster]

This could be a good thing in terms of finally killing TNA

[kurtanglestumour]

as per Pwinsider

For the many who have asked, today's ruling in Billy Corgan's lawsuit against TNA means the following:

*TNA is free to run their business without Corgan's input or approval.

*TNA's current Board of Directors - Dixie Carter, Dean Broadhead, Serg Salinas - remain in power.

*While he is still technically the President of the company, it is likely that Billy Corgan will not remain in power long.

*TNA has to pay Corgan back his LOAN by 11/1, which is tomorrow, so there will be some scrambling to get that done in time.

*Anthem Media, which owns the Fight Network, has already stated they are willing to pay Corgan that money back.

*Once that debt is paid back, Corgan will not have the right or power to convert his debt into a 35% ownership stake in TNA. Corgan could still convert that stake today, but at this point, it does not seem a likely move.

*Once Corgan's situation is settled, it would appear that TNA will move forward with a plan that sees Anthem replace Dixie Carter as the majority owner of the company with Aroloxe's CEO Jason Brown named the CEO of TNA. Carter is expected to stay as a minority owner and likely, an on-air personality as well. The belief is Anthem will own 85%, Aroluxe will own 10% and Carter will retain 5% ownership - this is based on documentation that Corgan's attorneys uncovered in the discovery process of his lawsuit.

*Corgan can still move forward with his lawsuit against TNA and has hinted that there may be additional legal proceedings against Carter and others for additional wrongdoing he believes may have happened.

*Once the Corgan situation is resolved, the next problem on Dixie Carter's plate will be how to mend fences with a locker room that is (as of this writing) behind on pay and one that she told during a locker room meeting on 10/3 that she would not let the company be sold to WWE when it turns out she's had multiple discussions with them about a sale, including just days before the locker room meeting.

*The next problem for TNA once Corgan, if he does exit, is gone is that Corgan was extremely popular with the locker room, leaving a management team that is at odds with a good portion of the locker room.

*It is also entirely possible that we will see departures of the current management team, creative team, staff, etc. as the company reorganizes in the wake of the expected shift to the new ownership hierarchy.

[AtomSmasher]

If only Dixie had been in charge of WCW back in 2001.
It would have NEVER died... but then who would be in charge of the 'young upstart' TNA?

[Deleted]

Wow one of the arguments Billy made that was denied was TNA was insolvent so he should be able to take over. Apparently that was denied because TNA didn't become insolvent during Billy's run. The judge ruled that TNA was insolvent before Billy got there by there own admission under oath so they basically could not make a ruling on that.


Also, someone mentioned Billy turning his loan into ownership shares not mattering, Dixie has 95% and under oath was sending 85 to Anthem, 10 to Nazis and keeping 5. If you take out Billy's 35, the ownership has a big issue. That give Anthem 50, Billy 35, Nazi 10 and Dixie 5. That means Billy could partner with the Nazis and overrule Anthem (or block Anthem should Dixie vote) which is not what they'd want at all.

[ayumidah]

Oct 31, 2016 14:39:24 GMT -5 ayumidah said:

Morale is sure to be sky high!

I love timely responses.

[kurtanglestumour]

Oct 31, 2016 15:36:52 GMT -5 @jinxed said:

Wow one of the arguments Billy made that was denied was TNA was insolvent so he should be able to take over. Apparently that was denied because TNA didn't become insolvent during Billy's run. The judge ruled that TNA was insolvent before Billy got there by there own admission under oath so they basically could not make a ruling on that.


Also, someone mentioned Billy turning his loan into ownership shares not mattering, Dixie has 95% and under oath was sending 85 to Anthem, 10 to Nazis and keeping 5. If you take out Billy's 35, the ownership has a big issue. That give Anthem 50, Billy 35, Nazi 10 and Dixie 5. That means Billy could partner with the Nazis and overrule Anthem (or block Anthem should Dixie vote) which is not what they'd want at all.

He has till the end of business today to make a move on the 35%, its unlikly he'll do that now and opt to get his money back. unless of course he is a complete gluten for punishment

[bob]