Rumors are swirling about the WWE possibly purchasing TNA, the wrestling company that appears to be on its last legs.
TNA is reportedly struggling to find financing for this Sunday's "Bound For Glory" PPV, and the set of TV tapings that follow. The WWE is reportedly interested in purchasing the company, but only for its tape library and to pick up the contracts of a handful of wrestling stars.
According to Forbes, TNA Investor and president Billy Corgan (yes from Smashing Pumpkins) is considering a WWE offer, or investment from other companies.
TNA has struggled over the last several years, since SPIKE TV decided not to renew its television contract. The company moved to Destination America and then POP TV, but has struggled to find a large audience since its heyday last decade.
TNA was once a viable alternative to the WWE, with stars such as Sting, Hulk Hogan and AJ Styles on its roster. But like WCW, the company suffered from constant changes in wrestling management, incomplete storylines and an overall lack of focus in direction.
When the company started to gain steam in 2004, it featured an innovative six-sided ring, but when TNA hired Hulk Hogan in 2010, Hogan pushed for the removal of the ring, and return to the traditional four sided squared circle, a move that stripped away much of TNA's individuality and appeal as a WWE alternative.
With Hogan and Eric Bischoff on the payroll, the company tried to copy the WWE, a major misstep. While TNA featured some great talent, everyone from AJ Styles and Samoa Joe to Austin Aries and Bobby Roode, the focus was often on aging WWE stars, instead of rising young talent.
If the WWE were to purchase TNA, which is reportedly worth about $4 million, the WWE would likely make its money back by using footage of Sting, Styles, Roode, Samoa Joe, TJ Perkins, Aries, and dozens of others who have jumped from TNA to the WWE over the years, on its WWE Network.
The next few days will be pivotal for TNA.