Reports that Impact will not be renewed by Spike TV

A number of media sources have reported that Spike TV will not be renewing Impact Wrestling when the contract expires in just over two months.

There were reports that Carter positioned to her staff at a meeting on Friday that they were leaving Spike on their own volition due to a lack of promotion, but others have confirmed Spike had told Carter they were not going to offer a new deal.

The decision came days after Spike found out that Vince Russo was still working for TNA.

At this point direct sources at Spike did not respond to questions from just after the meeting and most within TNA, including talent, were not aware there was any issue until today when rumors started flying.

This puts the company in grave position.  They have UTA representing them in an attempt to get a new television deal, but unless they could get a deal that pays similar to what they were earning on Spike, financially, the company that had been struggling financially with the Spike payments, would not be in good shape.

TNA was founded in 2002 by Jeff and Jerry Jarrett.  The company was about to fold when the company's publicist, Dixie Carter, found out they were on the verge of closing and convinced her parents to purchase the company.  The company lost tens of millions of dollars, but kept up a glimmer of hope.  They were close to folding in 2005 when Spike and WWE had their split, and Spike brought them in for a late Saturday night one hour time slot.

Eventually the show was moved to Thursday, and expanded to two hours.  Aside from a brief period when they moved to Monday and drew poor ratings, they did solid above station average numbers on Thursday. 

An official word from TNA after the news broke is that "We have not signed an extension and are still in negotiations."

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