While still locked into a legal battle with Billy Corgan, things for TNA Wrestling continue to get bleaker. In addition to losing their television deal with Challenge TV beginning next year, Senior Director of Creative Writing Dave Lagana resigned and notably made no mention of Dixie Carter in his resignation. Lanaga’s post hinted at what we’ve been hearing in that the majority of the TNA locker room desperately wanted Billy to gain control of the company, with the confidence in Carter at all all-time low.
The loss of Challenge TV is significant but was not a surprise. TNA had been searching for a new TV partner in the UK as far back as the summer and had spoken with executives at the pay-TV channel Premier Sports, who were not interested.
Locked in a legal battle with a former executive they owe money to, down a significant TV deal and without a head writer, TNA is left to one major revenue stream with their television deal in India. That deal is reported to pay in the ballpark of five million dollar annually. They have issues there as they’re supposed to tour India as part of that deal but canceled their tour last year and have no plans to go in 2016.
Challenge was paying TNA Wrestling around one million dollars annually, which will have to be made up somewhere else with their debt greatly exceeding revenue.
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