The New York Post has a story on Billy Corgan’s attempt to buy TNA Wrestling.
Corgan, who was interviewed for the story, became TNA President in August and is still in the process of working something out to buy the company.He has said publicly that it’s a complicated process and it’s possible that he doesn’t end up with the company. The story notes that Corgan, Dixie Carter, Aroluxe Marketing and The Fight Network all have equity stakes in the company. The money put into the company this year has helped fund their TV tapings.
We’ve written about Sinclair Broadcasting Group (ROH’s parent company) being in the picture as a potential buyer and we didn’t know that they were still involved but the New York Post says that they have made a recent bid.
The story also claims that WWE has put in a recent bid. I don’t think that’s been reported elsewhere but if WWE is attempting to buy TNA then I highly doubt that they would spend more than the $2.5 million that they spent to buy WCW.
The Post estimates TNA’s market value at $40 million. That is a very bad estimate and TNA is likely worth far less than that.
If WWE does buy them then they would likely shut the company down and retain the tape library for the WWE Network.
