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Anthem Sports & Entertainment and Impact Ventures Announce Credit Relationship
Toronto, Canada (November 3, 2016) - Anthem Sports & Entertainment Corp. and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations.
Anthem Sports & Entertainment Corp. is a global sports media company that operates Fight Network, Impact Wrestling’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures.
The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.
“We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.”
“We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”
About Anthem Sports & Entertainment Corp.
Anthem Sports & Entertainment Corp. is a global leader in operating targeted specialty video channels on linear, digital and mobile platforms with offices and studios in New York, Toronto, Las Vegas and Los Angeles. Anthem’s portfolio includes Fight Network, the world’s premier combat sports channel now broadcasting in the U.S., Canada and over 30 other countries, Fantasy Sports Network (FNTSY), the world’s first and only channel dedicated to fantasy sports, RotoExperts.com, a leader in fantasy sports news and analysis, DailyRoto.com, the most comprehensive and far-reaching daily fantasy sports website and Edge Sport, an extreme and action sports network recently launched in Canada in partnership with IMG. Anthem also has a significant ownership interest in Pursuit Channel, one of the top outdoor channels in the U.S. available in over 40 million homes, and it owns SportsGrid.com, a leader in general sports entertainment commentary.
About IMPACT VENTURES
IMPACT VENTURES, LLC, is a privately held sports entertainment company that is the parent company to TNA IMPACT Wrestling. Represented by United Talent Agency and based in Nashville, Tenn., IMPACT VENTURES specializes in television properties, events, products, merchandise and music, as well as the management and promotion of professional wrestlers. The roster features such greats as Jeff Hardy, Matt Hardy, EC3, Bobby Lashley, Drew Galloway, James Storm, the high-flying X-Division, Gail Kim and the lethal Knockouts. Its highly successful flagship show, IMPACT WRESTLING, broadcasts in more than 120 countries around the world, including in the United States on Thursdays at 8 p.m. ET/PT on Pop, a joint venture of CBS Corporation and Lionsgate, and on Fight Network in Canada.
Just as TNA and Anthem Media issued a press release announcing that Anthem was effectively taking control of TNA via a new "credit relationship", a letter to TNA wrestlers and staff was sent by Dixie Carter, telling them that TNA has "concluded agreements" with Anthem for a "funding plan that will stabilize the company."
In the letter Carter stated, "This is excellent news for all out shareholders in that it means, we, as a company, will continue to provide our fans with the best wrestling content on the planet."
In her letter Carter also informed the staff and talent that Billy Corgan was no longer with the company, but provided no context to his exit.
In today's letter to talent and staff, Carter also stated that there would be changes to the company going forward. As noted in the press release Anthem and TNA issued, Carter will remain Chair of the company while the Board of Managers will add Anthem's Ed Nordholm as their representative. Carter praised Nordholm in the letter, stating he was "instrumental" in concluding agreement and the documents, which were signed today.
Carter stated that Nordholm will represent the Board on all major "operating and restructuring agreements", which in corporate speak, pretty much means that he will be the force driving the company going forward. Carter appears to be remaining as a figurehead.
PWInsider.com sources have indicated that representatives for Anthem have been in Nashville since Tuesday working on this deal.
Carter told talents and staff in the letter that the company's organizational structure will otherwise remain the same, which appears to mean that, at least initially, Serg Salinas and Dean Broadhead will also remain on the Board of Managers.
Carter noted that Anthem's other "sports property" ownings will benefit TNA and that Anthem's sales team will support the company in both the TV and digital ad markets.
Carter also stated that Aroluxe Media, described in the letter as "also an equity stakeholder" will continue on as the production team overseeing TNA's shows in 2017. Carter's letter stated the next set of tapings would be in early January, confirming PWInsider's report several weeks back that they would be taping 1/5/17-1/10/17.
Carter stated that the Board of Managers are continuing to "develop a longer-term business plan" for the company. Carter stated she is personally excited to have Anthem on board to utilize their experience as TNA plans for the future, noting, "With financial stability, we can focus on executing our near term objectives while planning a measured and thoughtful approach for the future."
Carter also outlined some insight into that "thoughtful approach", stating Fight Network's strategy is to continue "expanding its distribution while developing strong relations with content creators" adding, "It is natural that they are keen to work more closely with us and support the company's growth alongside their own, on all platforms, and in all media."
Carter told talent that both she and Nordholm would be available to them today for any questions as well as on an "ongoing" basis.
Carter said she wanted to thank everyone personally for "your patience and support through this process" and closed out her letter by stating, "Over the years, we have built TNA and Impact Wrestling to be a very successful, global brand. You should all be excited for its future and be more determined than ever to work dilligently to take the company to the next level."
For those wondering, TNA wrestlers received their latest scheduled checks earlier this week after they were due last week.
