Billy Corgan Buys TNA, WWE Buys TNA Library

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Billy Corgan Buys TNA, WWE Buys TNA Library

Post by Bandit » Sun Sep 18, 2016 5:54 am

The New York Post posted an article on Billy Corgan trying to become the majority owner of TNA. Also mentioned in the article is WWE’s interest in buying the company. WWE and Sinclair Group have reportedly made bids for the company. Sinclair Group also owns Ring Of Honor. You can read the entire article here.

Corgan was quoted in the article as saying the following regarding the possible purchase of TNA:

“I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going.”

Dave Meltzer commented on how much TNA is worth, seeming to contradict the New York Post’s report, saying the price was closer to $4 million than $40 million.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Big Boss Man » Sun Sep 18, 2016 7:00 am

I thought this story was like from The Onion or something at first, but it's actually legit. The sale will reportedly be completed before Bound for Glory, or at least that is what Billy hopes, who I'm assuming is the front runner right now. This all seems kinda reminiscent of when Bischoff & Fusinet was going to buy WCW. Big Dave's saying the $40m figure is way over the value of TNA, saying it's more likely valued at $4m. WWE's apparently offered $2.5m, their plan is rumored to be similar to what they did with WCW, acquire the tape library, maybe some talent contracts and shut the promotion down. I would prefer Billy take over and keep on with the Broken Hardyz stuff as if they brought that angle over to WWE it wouldn't work at all. They'd just job them out to Bray & co. Not sure what Sinclair broadcasting would do with TNA, maybe an invasion angle with ROH, acquire the tape library, cross-promotional shows etc?. WWE's only real goal really is to buy the tape library and add it to the Network. So I'd rather either Sinclair buys it and they keep it going or Billy Corgan buys it. I wouldn't be surprised if Double J/Toby Keith put a bid in too. Not sure what the odds on NJPW putting a bid in but it wouldn't be a unwise decision since they could rename it NJPW USA and bring over their top talent and vice-versa to work shows and add TNA programming to New Japan's ondemand service. I wonder if TNA does sell for more than what WCW did, what does that say about the state of disarray that WCW was in and how damaged their brand was for WWE to buy them so cheaply. They got a bargain of the century getting talent contracts, trademarks/logos and a tape library for around $3-4m IIRC. When they were doing great business, it was valued hundred times that and surely they could have kayfabed Bisch buying it and running cross promotional shows once a year, if they kept a strong revamped WCW around surely it would allow Vince to focus on making the WWE better and let EB run WCW as he saw fit in a quasi-autonomous relationship where the final say is still with Vince Jr, keeping the illusion of real competition going. Although by 2001 more fans were smart to the biz so keeping the sale private would have been next to impossible as WWE had gone public by then and had to declare it's every move to its shareholders. Going back to TNA, some interesting times ahead for them.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Bandit » Mon Sep 19, 2016 2:02 am

Apparently Dixie is demanding to be kept on as an employee or bought off for $4 million, which would double the price of the company. And from what Dave tweeted it sounds like WWE only put in a lowball offer solely for the library Panda would only consider in a worse case scenario. So it's really between Corgan and ROH.

Which makes sense since WWE paying more for TNA than WCW or even ECW is an insane notion.

But Dave tweeted the deadline is the first week of October. Because Panda said they aren't paying for any further TV tapings. But Corgan had investors a few years ago who offered to buy TNA for more than is being asked for now, so he can probably get it.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Big Boss Man » Mon Sep 19, 2016 6:32 pm

I wonder how much over the years Panda Energy have lost thru TNA? Surely Dixie and her pop would want to recoup some of their losses. WWE I don't see spending more than WCW and ECW, however they buy footage for $500 a hour for their tape library acquisitions so you equate that to how many hours TNA has. I assume it would mean PPV, TV shows and their home video productions. I think all their footage is roughly estimated at around $7m. Sinclair's interest in buying TNA is solely for the TV contract (which harks back to Bischoff/Fusinet buying WCW) and their plan is also to shut doen TNA and put ROH on Pop and the equivalent stations internationally as per TNAs TV contracts. TNA shows on Challenge TV in the UK which is available on Freeview meaning anybody with access to a TV can potentially watch their show. WWE on the other hand is only available on Sky Sports or Sky TV which are subscription based so if WWE did manage to acquire TNA the smart money would go on putting a recap show on freeview each week for those without Sky would might then decide to get the WWE Network or get Sky Sports. But back to TNA their only hope of survival now is Billy buying them and keeping them going. It'll either be the last hurrah with Bound for Glory or WCW Big Bang 2.0. WCW was sold so cheaply because they lost TV and brand value so depleted. ECW was laden with debt and bought thru a Bankruptcy court so in both instances the companies values were a huge shadow of what they were. WCW especially, although retrospectively it's best years must have been 1996 to 1998 and from then onwards they were burning thru money throwing it as Master P, Gene Simmons and Kiss, making a restaurant, acquiring talent on huge contracts, losing their upcoming stars like Eddie, Y2J et AL and general mismanagement. It will be hugely ironic if TNA even worse managed than WCW sells for a higher amount, but one important factor to consider, well two factors are their tape library (1hr X $500) and their TV deal and international TV deals. Plus TNA tours the UK so they do have a loyal fan base there too. Best case scenario from a wrestling fan point of view is Billy Corgan buys them and keeps them going and we get more Broken Hardyz. Worst case is the deal either falls thru altogether or Vince Jr buys TNA or Sinclair broadcasting. I wonder if TNA was still on Spike whether Viacom would bid for them?.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Bandit » Mon Sep 19, 2016 9:16 pm

The thing is, how will WWE make that $7 mil back? Who is going to buy a The Best of Impact DVD? Or even watch Impact on the Network? Nobody has fond memories of TNA like ECW and they knew they had Flair, Goldberg, nWo, Sting sets plus were able to add footage to Hogan, Jericho, Savage and Foley ones. All they have is an AJ set out of this, and maybe Samoa Joe if he gets called up. I don't think it's worth it.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Big Boss Man » Tue Sep 20, 2016 2:56 am

I imagine WWE put in a low ball offer as I think $7m for the tape library is way over the odds they would want to pay. Like you say how would they get the 7 million back?. Network subscriptions maybe? Things like their old weekly PPVs and their run of good PPVs back in 2004/05/06 might pique interest. But no way near what it would justify WWE paying for it. I think they tried a TNA ondemand service and it tanked so that should show the level of interest there. If WWE could acquire TNA and its assets for say $500k to $1m I think that would be a good deal, where they could keep some talent on for NXT and guys to expand the Smackdown and Raw rosters. Plus you have some Knockouts they could bring in like Gail. Like with WCW some talent will fall by the wayside and that's always the downside to things like this as the boys and girls will have once less place to go. I don't know what Billy's vision for TNA is, if it's just a vanity project and there's no real plan going forward then he'll burn thru money for no real reason. TNA should bring out a DVD/Blu Ray of all the Broken Hardyz stuff and strike while the iron is hot. Put out AJ, Joe, Bobby Roode, Aries DVDs/BluRay. Maybe sets of the old PPVs and maximise what they do have. TNA needs a huge injection of cash, right now though I can't see anyone wanting to invest without a reward. TNAs live event business isn't up to par, merchandise sales aren't nothing special, I don't know if they are profiting thru ad sales, PPV buys I imagine aren't very profitable. So from a business point of view, the wisest decision is to asset strip the company and close them down. From a wrestling fans point of view, hope there's another big boom period, that TNA hit a winning stride.

Put on great shows and PPVs and sell tickets in respectability sized arenas and become self sufficient so they don't need cash injections to have TV tapings. Key is to get pop to fund them and work out a deal with adsales. Back in the day Pro Wrestling was cheap programming for TV networks and brings in unique demographics so if a boom period is on the horizon advertisers have a golden opportunity to target the 18-35 demographic like they did during the Monday Night Wars. But back to TNA unless he's going to see a return of his investment, I think Billy would be wise to keep his money and let Vince Jr or Sinclair buy TNA. The Broken Hardyz stuff is great as I've said before, but it's not something you can save a company on, especially as they aren't really profiting from it. It's really a vanity project for Matt and Jeff. It brings in more viewers but if TNA aren't making anything thru ad sales it's not important if 1 person extra tunes in. The whole dynamic is to pardon the pun broken itself. TNAs goal is to be profitable, be self sufficient and sustainable. Having to dig into their reserves and/or blatantly say they need to fund TV tapings is a bad business decision. To the prospective bidders it sends out a multitude of red flags. TNA haven't ever lived up to their potential, 2006 was really the last time they could have really been turned the corner. Ten years down the line is it too little, too late?. Say Vince threw money at Matt and Jeff to jump ship who realistically is left with fan appeal? Lashley maybe but I imagine he will focus more on MMA, so outside of those three I can't see any viability in TNA as a ongoing concern. That's if the Hardy leave, Lashley goes and they just have a bare bones roster. Their real assets outside of their tape library is their TV deal and from what I've read it's not weighted in their favour either. Therefore unless Billy has a great plan to turn TNA around and make it continually profitable I think Bound for Glory will be their final show. As it can't keep going on burning thru money, it makes no financially sense to keep it operational.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Bandit » Tue Sep 20, 2016 3:36 am

Yeah, $1-$2 million is a fair price. $7 million and paying shitty Dixie off to leave is absurd. Vince wouldn't hire her to answer phones at Titan.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Big Boss Man » Tue Sep 20, 2016 4:05 am

As you've mentioned above, Dixie either wants to be kept on or bought off for $4m, but I see no reason for Vince to keep her on, she doesn't have a track record for success that Bischoff did (to a degree) and that being said Eric wasn't involved in any day to day WWE operations, just under a talent contract. So any offer upwards of $1-2m I don't see coming from WWE. I don't think Sinclair broadcasting would offer too much either. If Billy Corgan pays anything upwards of $5m then like I've said he has a 100% cast iron guaranteed plan he will make that money back in a 6 month to a year period it would be a huge mistake. As unlike if he had bought ECW, the brand value was still there, the fanbase was still there and most importantly they were still selling tickets and were on PPV. Granted not a huge business but one which with some careful management he could have turned around with the right talent acquisitions and clearing the debt. Maybe if he bought it as a going concern he could have worked out a deal with Vince where he got Jerry Lynn, Justin Credible & Rhino in exchange for clearing the debt in addition where he threw a few pieces back for ECW to develop until they were ready for a WWE roster callup. So that way ECW's kept on as like a quasi-developmental territory and with better financial management they keep on an even keel. TNA don't have that luxury ECW did so if Billy does take the reigns then it'll be a uphill struggle in terms of any guaranteed they will have the finances need for TV tapings etc. If he decides to fund all this himself then he should understand he won't see that money again. TNA will be a money pit until he finds a way to make it sustainable where it will fund itself. It would no doubt be wiser for him to use that money and invest it in another venture(s) which will see a return. One idea might be to crowd fund TNA but if they did it could turn into LOLZ central with TNA having to shoutout it's funder(s) on the show or have a money mark turn up in an angle.

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Re: WWE, ROH Both Bid To Buy TNA

Post by Bandit » Tue Sep 20, 2016 4:21 am

Oh yeah, I forgot Sign Guy Dudley was trying to facilitate Corgan buying ECW. Heyman would have been kept on.

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Re: WWE, ROH Both Bid To Buy TNA

Post by dreamkileer » Tue Sep 20, 2016 1:47 pm

Dave reported today on the Board that Sinclair dropped out of the bidding long ago, and WWE's offer is for the tape library and some contracts only with the intent of closing the company. He says Billy is trying to get investors, and $4 million is the number, not $40 mil. They have to get the money by 10/2 for any further tapings. He also says that while on Spike, they actually did turn about a $20 million profit one year.

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Billy Corgan Buys TNA, WWE Buys TNA Library

Post by Bandit » Thu Oct 06, 2016 8:57 am

It had been pretty clear for some time that WWE had an interest in buying TNA Wrestling. The thing WWE really wanted out of this was the TNA library that they could put on the WWE Network and make a lot of money. It made sense for WWE to have an interest in the TNA tapes because there was some valuable material in the archives. The question was, could WWE secure the tape library?

It was noted today by WWE Hall of Famer Jim Ross that a sale was likely to happen very soon. In fact, he used the word “imminent” to describe the situation. He noted, however, that WWE was not buying the promotion, but they were just acquiring the library of TNA. One would imagine that the new owner of TNA would want to keep all of the material to produce DVDs and BlueRays, which could be quite profitable for the business. They also could not recognize the history of TNA in the new promotion without the footage either.

Ross was correct, it seems. WrestleZone is reporting that WWE has, in fact, purchased the TNA Wrestling library. This includes all the matches TNA had ever put on. They did not buy the promotion, however, as Billy Corgan did this, and he has now become the majority owner of the promotion. He is expected to rebrand it going forward as a new company. There is no word on what the new name will be, but some speculate it won’t be too far off from something TNA fans know well.

Dixie Carter happened to address the locker room on Monday by saying that she would not let WWE buy TNA, and she was telling a half-truth. They did buy TNA and all its history. However, the talent and company will not go to them but rather to Corgan. The question is, will Corgan be able to keep the talent the company has and be able to handle the major debt as well?

Right now, this seemed easy for a company like WWE as they could at least layoff workers and cut talent, so they wouldn’t have to worry anymore. However, Corgan can’t really do this. One also has to wonder where this leaves former TNA investor Panda Energy? If TNA is sold, but people signed with Panda over TNA, does that mean they are now free agents due to the fact that Panda does not have majority ownership anymore?

There are many questions to wonder about. Also, several top TNA wrestlers are rumored to be leaving next year, including Matt and Jeff Hardy. Some who were loyal to Dixie Carter are also likely to leave. It is also thought that Billy would not be able to pay the talent what they feel they are worth, so could some leave when their deal is up because of this reason. This led to some leaving even when the Carter family owned TNA.

There is so much to wonder about when it comes to the Billy Corgan ownership. He clearly is a smart guy, who is obviously trying to help TNA and make it a good business. Now that he is the majority owner of the promotion of TNA, people expect to know what will happen going forward. From economics to simple creative, many things will be questioned under Billy Corgan now that he is the boss.

Will TNA be in the same position next year? Some think so if the debt is not killed off. Getting rid of talent may very well help this, as well as some simply not re-signing. The fact that Dixie Carter is no longer in charge of anything does make some in TNA feel the business will only do better. Under new leadership, it very well could. Seriously, could it get any worse than Carter?

Dixie was seen as a cancer when it came to TNA. She was never good at handling the business and made more mistakes than one ever should. She was repeatedly told about the issues, but nothing was ever handled. Corgan does at least come off as more competent, and due to TNA being under his leadership, they very well could get better. The real question is, with all the problems, does the new company stand a chance to sign top talent, put on shows people want to see, and still make a profit? That may be the toughest thing for the company under any name going forward.

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Re: Billy Corgan Buys TNA, WWE Buys TNA Library

Post by Big Boss Man » Fri Oct 07, 2016 5:11 am

This story is gaining traction so it's highly likely WWE have the rights to TNA and the tape library. Maybe for the best that Billy will rebrand under a new name. I wonder if Matt and Jeff will jump ship?. Also where it leaves their international TV deals and upcoming tours?.

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Re: Billy Corgan Buys TNA, WWE Buys TNA Library

Post by Bandit » Fri Oct 07, 2016 5:36 am

I wonder if Matt and Jeff will jump ship?. Also where it leaves their international TV deals and upcoming tours?.
If he doesn't own the tape library or intellectual property, I'm assuming whatever he paid was for the wrestler contracts and TV time. The Hardys have about a year left on their TNA deals.

I wonder if WWE will put TNA on the network, because even with a new name running TNA footage would essentially be advertising the competition (especially if they show a match with a wrestler still there, like say AJ vs. Abyss.)

Now that they own the entire Vince Russo creative cannon, they really need a Network show showcasing his hilariously terrible stuff.

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Re: Billy Corgan Buys TNA, WWE Buys TNA Library

Post by Bandit » Fri Oct 07, 2016 5:44 am

Dixie seems to be denying the sale:



But it wouldn't be the first time she was full of shit. Maybe she's lying because the deal isn't completely finalized with WWE.

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Re: Billy Corgan Buys TNA, WWE Buys TNA Library

Post by Big Boss Man » Fri Oct 07, 2016 6:04 am

If he doesn't own the tape library or intellectual property, I'm assuming whatever he paid was for the wrestler contracts and TV time. The Hardys have about a year left on their TNA deals.

I wonder if WWE will put TNA on the network, because even with a new name running TNA footage would essentially be advertising the competition (especially if they show a match with a wrestler still there, like say AJ vs. Abyss.)

Now that they own the entire Vince Russo creative cannon, they really need a Network show showcasing his hilariously terrible stuff.
I think from what I've read Billy owns/will own some talent contracts, TV contracts and that's about it. WWE I imagine have picked up the trademarks, licenses which exist for action figures/merchandise etc. and of course the tape library. I also think they will put TNA on the Network since I'd imagine it's easier to digitize or already is in digital format, has AJ et al and former WWE talent. Although they might hit a brickwall with the theme music so that might be an issue. As for Vinny Ru the early TNA stuff is hilariously bad and wacky and somebody with video editing skillz could put together a hilarious best of Russo video advertising the network with all his greatest misses.

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