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Justin Barrasso of Sports Ilustrated is reporting that Global Force Wrestling, under Anthem Media's ownership, has been "hemorrhaging funds" and that "sources close to the situation have confirmed that Anthem is ready to withdraw itself from the wrestling industry and sell GFW."
It was obvious based on the last set of TV tapings that there had been cutbacks with a number of talents not brought in and others only used for certain tapings before being flown home, as opposed to remaining for the entire run of tapings.
Since purchasing what at the time was known as TNA Impact Wrestling, Anthem has had to catch the company up and get it out of several legal predicaments including the Billy Corgan situation and a lawsuit brought against the company by its former production company, Virginia's Audience of One Productions. The ownership came with Impact Wrestling deeply, deeply in the red. Although there have been several new TV deals made, there have been relatively few new revenue streams brought into the company and partnerships forged with different international companies, including AAA, Crash Lucha Libre and Pro Wrestling NOAH.
Since Anthem purchased the company, controversy continued to follow, including the "Broken Hardys" situation, the suspension of then-reigning GFW champion Alberto el Patron and now, the departure of Jeff Jarrett, who is taking an "indefinite leave of absence" as Chief Creative Officer following a meeting yesterday in Nashville, TN with Ed Nordholm.
Prior to Anthem taking ownership of Impact from Dixie Carter and Impact Ventures LLC, World Wrestling Entertainment, ROH parent company Sinclair Broadcast Group and Billy Corgan (who went on to purchase the National Wrestling Alliance instead) all looked into potentially acquiring the brand - and in the case of Corgan began that process before ending up suing the very company he was, at the time, President of.
PWInsider.com can confirm that there were multiple meetings yesterday afternoon and early evening regarding plans for the company going forward We can also confirm that calls were being made yesterday to members of the roster to assure them that everything was fine following the Jarrett announcement.
Anthem Media is also the parent company of the Fight Network, which airs pro wrestling programming regularly. It has begun putting much of the TNA/Impact/GFW library to use on the network since acquiring ownership.
To read Barrasso's report, click here.
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