The Fight Network Makes Working Capital Loan To Fund TNA, Repay Billy Corgan
Earlier this week, TheFightNetwork.com issued a press release confirming rumors that Anthem Sports & Entertainment Corp. (“Anthem”), the parent-company of The Fight Network, recently made a working capital loan to fund the operations of TNA Impact Wrestling.
Below is the official release with comments from Anthem CEO Leonard Asper. It’s worth noting that this doesn’t mean TNA is out of the water, rather they have bought some more wiggle room and much-needed time. It also likely means Billy Corgan will be repaid the money he loaned the company and his lawsuit against TNA and key management figures will come to a close.
Anthem Statement On Investment In TNA Impact Wrestling
Toronto – Anthem Sports & Entertainment Corp. (“Anthem”), the parent company of Fight Network, today confirmed that it recently made a working capital loan to fund the operations of TNA Impact Wrestling. Fight Network is a licensee of TNA programming for broadcast in the U.S., Canada and other international markets, and is also the exclusive licensee of TNA for streaming Internet-delivered TV.
Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company.
“TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth,” said Leonard Asper, CEO of Anthem. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content.”