​More On The Ongoing Billy Corgan vs. TNA Wrestling Lawsuit


UPDATE: As Andy noted moments ago on eWN, Anthem Sports & Entertainment and Billy Corgan have reached a settlement agreement.

Anthem Media issued the following:

Anthem Sports & Entertainment and William Corgan Announce Settlement

Toronto, Canada (November 28, 2016) – Anthem Sports & Entertainment Corp. and William “Billy” Corgan today announced that they have completed an agreement to resolve Mr. Corgan’s litigation against Impact Ventures, parent company of TNA Impact Wrestling. Anthem has acquired Mr. Corgan’s loan to Impact Ventures on undisclosed terms, and Mr. Corgan has dismissed his proceedings against Impact Ventures and TNA Impact Wrestling.

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.

Anthem Executive Vice President Ed Nordholm stated: “We are pleased to conclude these arrangements with Mr. Corgan. The events leading to litigation were unfortunate but also reflected all parties’ desire in good faith to support the company. The arrangements we have made with Mr. Corgan respect all parties’ gratitude for his contributions to Impact Wrestling, both creatively and financially. We can now close this chapter and look forward to making Impact Wrestling a leader in the professional wrestling world.”

“I’m pleased that an agreement is now in place that allows wrestling operations to continue,” said Corgan, Impact’s former president, “for my interest from the start was to provide support, be it material or creative, to such a great roster and crew. And as I plan on continuing in the business side of pro wrestling, I look forward to seeing where Anthem’s leadership takes the company in 2017, and wish them the best.”

ORIGINAL: The lawsuit from Billy Corgan against TNA is still active in the Chancery Court of Nashville, even though Corgan announced weeks ago that he and TNA came to a settlement agreement. The agreement was made in principal but has yet to actually be signed on paper. It’s believed that the final paperwork is done and everything will be done either this week or early next week.

Meanwhile, several lawyers for Anthem Media have been seen at TNA offices in the last several weeks. It’s believed that after the Corgan situation is finished, Anthem will announce they bought majority ownership in Impact Ventures. It’s unknown what internal changes will be made from a creative and staffing standpoint.

The original plan was for Anthem to own 85% of the company, with Aeroluxe getting 10% and Dixie Carter getting 5%. This means that Carter would benefit if the company gained steam but would more or less have no power behind-the-scenes. If that happens, Aeroluxe’s Jason Brown could be named the CEO of Impact Ventures, but the previous announcement seemed to suggest that Anthem’s Ed Nordholm would be in charge.

TNA is scheduled to film episodes of Impact Wrestling during the first week of January at Universal Studios in Orlando, Florida.

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