TMZ.com is reporting that Spike TV has informed TNA Wrestling president Dixie Carter that the television network will not be renewing TNA's television deal once their current deal expires, effectively canceling Impact Wrestling on Spike TV.

The website reports that Carter was informed of the news this past week and that she has since informed members of her "inner circle" of the recent developments.

TNA's current television deal with Spike TV is scheduled to expire this coming October; however, TMZ.com notes that it hasn't been made clear exactly when Impact Wrestling will stop airing on the network.

The latest word is that Spike TV wanted to inform Carter of the news ahead of time in order to allow TNA to "shop" for another television deal. However, as of the initial reports, there is no word on whether or not a deal with another network may possibly be in place.

TMZ.com further notes that they have contacted both TNA Wrestling and Spike TV for comments, but they have received no response as of yet.

To read the article from TMZ.com, click here.

WrestlingNewsSource.com will continue to keep you updated on this breaking story as more information is made available.