UPDATE: It was previously reported that there was another network that was not only interested TNA iMPACT!, but also offered them a deal. Word is the rumored channel is The Discovery Network's VELOCITY channel. The channel is available is 48 million homes, and only in HD. For a comparison, Spike TV is available in just over 97 million homes. Along with the channel being available in less homes, the deal offered to TNA is reportedly only one fourth of what they make from Spike TV.

TNA officials are said to be relieved that they have something on the table, but are disappointed by the financial offer. The hope from officials is that the offer from VELOCITY will lead to other offers.

At this time, TNA has a deal with Spike TV to air iMPACT! through the end of 2014.

ORIGINAL: The word going around the television industry is that Spike TV wants out of the pro wrestling business and as a result, will not be keeping TNA's iMPACT! Wrestling on their schedule, nor will they be buying out TNA, or buying into any other pro wrestling promotions, as had been rumored in the past..

The impression is being given that TNA has a new television home to move to once their deal with Spike TV expires, however it is said to be a smaller network.

What's interesting is that Spike TV is reportedly willing to let TNA remain on the network after their deal is up at the end of this year, likely week-to-week, until they transition to their new network.