TNA wrestling could finally be getting the fresh start they have hoped been hoping for. Wrestling Observer broke the news that Anthem Sports & Entertainment had announced on Wednesday that they have formed a new company that will be the parent company of TNA. The company, called Anthem Wrestling Exhibitions, will be led by Ed Nordholm as President.
Dixie Carter has resigned as Chairman of Impact Ventures, the former parent company of TNA, and will join the Advisory Board of Fight Media Group. She will remain a minority equity shareholder in TNA and will focus on the global growth of the combat sports-related brands owned by Anthem.
Videos by PopCulture.com
Below is the official press release:
Anthem Sports & Entertainment Forms Anthem Wrestling Exhibitions, LLC., Acquires Control of IMPACT Wrestling
Toronto, Canada (January 4, 2017) – Anthem Sports & Entertainment Corp. today announced it has entered into a definitive agreement to acquire a majority interest in TNA IMPACT Wrestling, and has formed Anthem Wrestling Exhibitions, LLC. Anthem also owns Fight Network, the world’s premier 24/7 multi-platform channel dedicated to complete coverage of combat sports, which is IMPACT Wrestling’s exclusive broadcast partner in Canada and worldwide digital partner.
“We are thrilled to have acquired TNA IMPACT Wrestling,” said Ed Nordholm, Executive Vice President of Anthem Sports & Entertainment Corp., the parent of Fight Network. “As we grow Anthem’s linear, digital and mobile platforms globally, top tier content with global appeal is key to that success and this acquisition is a perfect strategic addition to our portfolio. IMPACT has been a dominant wrestling brand around the world for more than a decade and we are confident that Anthem can leverage its assets and strategic partnerships to take IMPACT Wrestling to even greater heights.”
Mr. Nordholm, who has been the managing director of the IMPACT Ventures Board of Managers since October 2016, will assume the position of President of Anthem Wrestling Exhibitions, LLC. Dixie Carter will resign from her position as Chairman of Impact Ventures and join the Advisory Board of Fight Media Group, which holds all of the combat sports-related assets of Anthem, where her focus will be on the global growth of the combat sports-related brands owned by Anthem.
“Anthem has been a great partner for many years,” added Dixie Carter. “We have worked hard to find the right company who would acquire TNA, use its strategic influence and have a long-term commitment to the brand. TNA’s incredible fans, talent and staff deserved to see the brand continue to thrive after 15+ years of incredible growth. I’m excited to move to a new position and work with Anthem on their global strategic plan, and I am confident TNA IMPACT Wrestling is going to be a huge part of their success.”
Ms. Carter will remain a minority equity stakeholder.
TNA’s financial woes have been well-documented and a major story throughout last year were the efforts to keep the company alive through various investor initatives. Smashing Pumpkins lead singer, Billy Corgan, who was one of the interested investors, ended up suing the company in an effort to gain control over moneys owed. Corgan eventually settled with Anthem and TNA after a judge rejected those claims.
Wrestling fans can only hope this will be the new start that finally gives TNA the stability that they need to be a global competitor with the WWE?
