October 31, 2016 Wrestling Observer Newsletter: Billy Corgan vs. TNA, Urijah Faber retiring, more
The battle for power, and to survive, by TNA, continued this past week after Anthem Sports and Entertainment, the parent company of the Toronto-based Fight Network, agreed to fund the promotion.
The questions regarding the funding and why Anthem was loaning TNA money instead of buying into the company, as they did with earlier funding, was because another partial owner, Billy Corgan, had gotten a temporary restraining order, which banned TNA from selling any stock in the company or selling any company assets, the key being both company stock and the tape library.
The key in documentation is that the loan from Anthem was slated to be turned into a controlling investment in the company, which is why Corgan filed for his restraining order and attempt at an injunction.
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Dave Meltzer is the founder and lead writer on the Wrestling Observer Newsletter, the weekly constant when it comes to news and reviews in pro wrestling and mixed martial arts for more than 40 years. Dave also co-hosts Wrestling Observer Radio with Bryan Alvarez and had had bylines for The National, Yahoo Sports, MMA Fighting and others.