WWE Buying TNA Tape Library, But Corgan Buying Company
The latest word on the TNA sale situation puts the company with Billy Corgan but the tape library with WWE.
It’s believed that Corgan will purchase the company, rebrand the promotion and continue with the existing roster and contracts, perhaps completely dropping the TNA name. WWE will have rights to all of the old footage to air on the Network and DVD releases, but they won’t own the TNA brand itself.
The sale of the tape library will raise short term funding for the company, and WWE will get all they need without having to take on the roster and financial obligations.
One might ask why Corgan doesn’t just start his own company and let TNA die. The benefit is that he will get all the existing TV deals and other existing agreements, which would provide a significant head start over starting from scratch, which has been GFW’s downfall.