Author Topic: Billy Corgan gone from TNA and lawsuit fun!  (Read 1749 times)

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Billy Corgan gone from TNA and lawsuit fun!
« on: November 04, 2016, 04:23:19 pm »
So here's the story thus far: Last month, Billy Corgan filed a temporary restraining order bond and an application for a temporary injunction against TNA and its management team. Shortly thereafter, Anthem Sports & Entertainment made capital loan to fund the operations of TNA Impact Wrestling.

Last week, the hearing took place and both sides made their arguments, which revolved around Corgan's loans and what they meant to the company and if TNA was solvent (in other words, "can they pay their bills"). On Monday the judge ruled against Corgan, but Anthem stated they'd be willing to reimburse his loans.

Yesterday, Anthem made the following press release:
Quote
Anthem Sports & Entertainment Corp. and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations.

Anthem Sports & Entertainment Corp. is a global sports media company that operates Fight Network, Impact Wrestling’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures.

The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.

“We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.”

“We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”

To which Corgan has bird-sounded:
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FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to 'get $ together' Upon which, (yesterday or today) they'd 'reach out directly' to settle ALL claims. So they lied again and have used the time as a weapon. FACT: I have still not been paid, and I'm exploring all remedies including new filings with court and converting to 36 pct. equity

Anthem's rebuttal:
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We reject Mr. Corgan’s social media comments today re:IMPACTWRESTLING, The matter is before courts/public discourse is inappropriate. There is a solid financial plan for IMPACTWRESTLING & Mr. Corgan’s loan will be dealt with appropriately.

Corgan:
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Terrible way to start our future relationship, What w/ the lying through counsel + propensity for press releases claiming victory. So when you sent out the press release today and one during lawsuit (which is still pending FYI) that’s not public discourse? Tsk! And the use of ‘reject’ in your tweet! Such strong language from network of fights.

This brings us to today where he said:
Quote
Today, I’m FORMALLY requesting repayment of my ‘so-called’ loan by TNA, which I’m told stalled because they didn’t know where to FIND ME, Laughs aside I’d put up 1.8mil for express purpose of becoming equity stakeholder and helping talented roster. Any other assertion is FALSE.

So if I’m not repaid today in full and without conditions attached, I’ll be forced to once more pursue remedy by taking TNA stock via court. Remember it was Anthem and not I who stood in open court and told judge they were prepared to PAY and in turn FUND good ‘ol, solvent TNA. A company which they claim they have no business deal for behind-the-scenes yet have released 2 press releases saying they are TAKING OVER.

So far be it from me to accuse someone I don’t know of bending truth to win a case. That just wouldn’t be nice, and I believe in being nice. Last thing: despite being called a lender by every arm of TNA propaganda I can still convert to 36pct stock or sell option to highest bidder. And that ‘option’ if you will to convert my boo-hoo-hoo loan to 36pct stock or auction it off to a PW titan doesn’t require a court order.

Some people are taking the "PW titan" line to mean the WWE. Suffice to say, between this and the money TNA owes to other parties, things are taking a turn for the dramatic more than anything on their actual show.
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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #1 on: November 04, 2016, 09:29:19 pm »
Watch... just watch.... somehow... someway... TNA will survive this and we will continue to quote that line from the second Austin Powers film in regards to that company, which is 'Why won't you die?'
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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #2 on: November 04, 2016, 10:29:40 pm »
Watch... just watch.... somehow... someway... TNA will survive this and we will continue to quote that line from the second Austin Powers film in regards to that company, which is 'Why won't you die?'
This is it's last shot and with the Hardys likely leaving soon and with the Bennetts seemingly eager to get out of dodge and their head of creative jumping off, soon it will be clear that the best bet is to sell the tapes to Vince and cash out. It might not happen now but if I were a betting man (and I am most certainly not), TNA in its current form does not see 2018.

I have thought many times about starting a thread about this flaming wreckage of a company that can't even pay its bills or its talent, but then I thought "Who cares?" No one watches TNA and there's only one person on this board who seems to care about it, just because he wants to rail on the billion dollar competition that crushes it in every respect

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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #3 on: November 05, 2016, 09:47:14 am »
with the Hardys likely leaving soon

Wait, what? One would think that with as much viral attention as this Deletion nonsense gets, that TNA would be making sure that every cent of the money they *do* have goes right to them.

I have thought many times about starting a thread about this flaming wreckage of a company that can't even pay its bills or its talent, but then I thought "Who cares?" No one watches TNA and there's only one person on this board who seems to care about it, just because he wants to rail on the billion dollar competition that crushes it in every respect

Lord knows this past week certainly didn't do them any favors.
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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #4 on: November 05, 2016, 10:28:45 pm »

Wait, what? One would think that with as much viral attention as this Deletion nonsense gets, that TNA would be making sure that every cent of the money they *do* have goes right to them.


Their contracts are up soon and I think they realize there's only so much time left in their careers. While I'm sure Matt and Jeff (more than anyone) appreciate the soft landing TNA has given them over the years particularly with their sweet policy of not drug testing, one more WWE run and then a HOF induction is what their career needs as a capper.

I have seen the "broken" characters as a chance for them to do every single thing WWE would never let them do (a baby in a wrestling match? a job for Reby Sky?) to get it out of their system before they do one last corporate run


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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #5 on: November 06, 2016, 11:54:58 am »
On a related note, David Lagana has stepped down as the senior director of creative writing at TNA.  He wrote a letter thanking everybody he worked under during his tenures in WWE, TNA, ROH and the NWA, but notably absent from the list of "every major talent in the history of the sport and ... its brightest minds" was Dixie Carter.  Just make of that what you will.
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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #6 on: November 11, 2016, 08:17:58 pm »
A brief update on this story as TNA/ANTHEM have settled with Billy Corgan. Corgan says he'll do some interviews to elaborate on what is and isn't in it. I don't know if this means he's officially through with them or what, but I guess this means it's back to business as usual for TNA.
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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #7 on: December 03, 2016, 02:19:17 pm »
Can't help but wonder what exactly IS keeping TNA going. The contract they have with Challenge TV that transmits TNA over here in the U.K. perhaps? Or isn't that enough? They are a US based company after all, & need a viewership/sponsorship in their own country rather than what they gat from Challenge TV I would have thought
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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #8 on: December 03, 2016, 09:38:01 pm »
Can't help but wonder what exactly IS keeping TNA going. The contract they have with Challenge TV that transmits TNA over here in the U.K. perhaps? Or isn't that enough? They are a US based company after all, & need a viewership/sponsorship in their own country rather than what they gat from Challenge TV I would have thought
About that deal with Challenge... TNA got dropped by them about a month ago.
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Robin Banks

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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #9 on: December 06, 2016, 07:09:31 pm »
Can't help but wonder what exactly IS keeping TNA going. The contract they have with Challenge TV that transmits TNA over here in the U.K. perhaps? Or isn't that enough? They are a US based company after all, & need a viewership/sponsorship in their own country rather than what they gat from Challenge TV I would have thought
About that deal with Challenge... TNA got dropped by them about a month ago.

Thanks for that information, must have missed that somehow. Now to find out who's going to show TNA this side of the pond, that is if any uk based company takes up the option with Challenge now out of the picture
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Robin Banks

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Re: Billy Corgan gone from TNA and lawsuit fun!
« Reply #10 on: December 23, 2016, 04:09:28 am »
Found out yesterday that TNA are launching an app here in the uk, by which means you can watch their stuff direct. For £5 a month. Would have thought they'd get more UK based viewers on Challenge then with this new app, but what do I know. I certainly won't be going through the rigmarole of getting an app & paying extra just for TNA be interesting to see how many do take it up
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