Anthem Sports & Entertainment Corp. (“Anthem”), the parent company of Fight Network, today confirmed that it recently made a working capital loan to fund the operations of TNA Impact Wrestling. Fight Network is a licensee of TNA programming for broadcast in the U.S., Canada and other international markets, and is also the exclusive licensee of TNA for streaming Internet-delivered TV.
Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company.
“TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth,” said Leonard Asper, CEO of Anthem. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content.”
Bill Says: I wonder what reimbursement Anthem is proposing here. Corgan loaned TNA and Dixie Carter money, but there may have been additional funding that he offered as a part of those loans. Will Anthem repay all of it? This timing is also very interesting, because as noted earlier the hearing on Corgan’s filing has been postponed a week. Does that mean a settlement is being pushed, and if Corgan says no to a deal like this would it make him look like the bad guy? As always, more to follow.