TNA Power Shakeup: Corgan Out, Anthem VP In

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The parent company of TNA Wrestling’s Canadian television outlet, The Fight Network, has entered into an agreement with Impact Ventures, parent company of TNA Wrestling, to fund future operations.

In the press release, it was revealed that Billy Corgan is out as TNA President, Anthem Executive VP Ed Nordholm has been appointed to the Board of Managers for Impact Ventures and will manage the company. Dixie Carter will remain the Chair of the company.

Toronto, Canada (November 3, 2016) – 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.”

Corgan has not remained silent on his ousting from the company, speaking out in a series of tweets about the loans TNA was ordered to repay him by November 1st.

As of this post, no Impact Wrestling talent has publicly commented on the shakeup, other than retweeting Impact Wrestling’s tweet directing users to their website’s version of the press release.

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