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Fight Network Parent Lends Cash to Struggling TNA Impact Wrestling

Anthem Sports & Entertainment said today (Oct. 19) it confirmed recently making a "working capital loan" to fund the operations of TNA Impact Wrestling, the financially troubled wrestling organization, and that it had offered to provide money to repay loans made to TNA by The Smashing Pumpkins frontman Billy Corgan.

Corgan, a huge wrestling fan, was named president of Impact Ventures in August, overseeing day to day operations of TNA, as Rolling Stone reported. Since then, Corgan has sued the TNA organization and principals, including chairman Dixie Carter, according to several reports (including this one), and a hearing has reportedly been scheduled for tomorrow (Oct. 20) on Corgan's receipt of a restraining order and temporary injunction.

Toronto-based Anthem Sports & Entertainment said it licenses TNA programming for Fight Network in the United States, Canada and other international markets and has exclusive streaming rights of TNA shows for streaming Internet-delivered TV. TNA Impact Wrestling airs Thursday nights on Pop in a deal the network announced in November 2015. TNA programming previously aired on Destination America and Spike.

“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,” Leonard Asper, CEO of Anthem, said in the statement. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content.”