Judge strikes down Corgan's request for a temporary restraining order; Big win for Dixie and TNA.— Nate Rau (@tnnaterau) October 31, 2016
Nate Rau, a reporter for The Tennessean had tweeted out that judge Hobbs Lyle has ruled against Billy Corgan's request for a temporary injunction. This is considered a serious win for Dixie Carter as Corgan will not be gaining control of the company. Dixie Carter and TNA will now be able to make business decisions without his approval from this point forward.
However, TNA will still have to replay Corgan's $1.8 million dollar loan or Corgan can convert the debt into a 36% ownership stake in the company.
David Bixenspan is reporting that the current thing is that TNA will be sold to Anthem Sports and Entertainment, the parent company of The Fight Network. Aroluxe Media, which is a minority shareholder, will possibly still be able to be involved in producing future television shows. Jason Brown could end up as Chief Executive Officer. with this potential sale, Dixie Carter would still be able to retain a title in the company as well.