vs Billy Corgan

[The Ultimate Nullifier]

www.wrestlinginc.com/wi/news/2016/1104/619056/billy-corgan-formally-requests-repayment-from-tna/

Billy Corgan Formally Requests Repayment From TNA, Threatens To Convert His Loan To Stock, Auction

As we've noted, there was a back and forth on Twitter between Billy Corgan and Anthem Sports & Entertainment yesterday, following the announcement that Corgan is gone from TNA and Anthem has entered into a credit relationship with the company. Dixie Carter is still Chair of the company and will remain the figurehead for the company while Anthem's Ed Nordholm will essentially be running things. While Corgan is out, he's still owed money by TNA and his lawsuit is still open.

Corgan returned to Twitter today and isn't holding back. He corrected one fan meme and said he's owed $2.7 million, not the reported $1.8 million. Corgan noted that he formally requested repayment of the loan by TNA today and threatened to take what he's owed to court and convert it to company stock or sell the options to the highest bidder, teasing a "pro wrestling titan," which could be a WWE mention. Below are Corgan's new tweets with what was said yesterday for context:
Follow
WPC ✔ @billy
FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to 'get $ together'
12:37 PM - 3 Nov 2016
394 394 Retweets 424 424 likes

Follow
WPC ✔ @billy
Upon which, (yesterday or today) they'd 'reach out directly' to settle ALL claims. So they lied again and have used the time as a weapon
12:39 PM - 3 Nov 2016
262 262 Retweets 273 273 likes

Follow
WPC ✔ @billy
FACT: I have still not been paid, and I'm exploring all remedies including new filings with court and converting to 36 pct. equity
12:42 PM - 3 Nov 2016
414 414 Retweets 483 483 likes

Follow
Fight Network ✔ @fightnet
We reject Mr. Corgan's social media comments today re:@impactwrestling. The matter is before courts/public discourse is inappropriate. (1/2)
2:45 PM - 3 Nov 2016
87 87 Retweets 77 77 likes

Follow
Fight Network ✔ @fightnet
There is a solid financial plan for @impactwrestling & Mr. Corgan's loan will be dealt with appropriately. (2/2)
2:45 PM - 3 Nov 2016
92 92 Retweets 78 78 likes

21h
Fight Network ✔ @fightnet
There is a solid financial plan for @impactwrestling & Mr. Corgan's loan will be dealt with appropriately. (2/2)
Follow
WPC ✔ @billy
@fightnet Terrible way to start our future relationship! What w/ the lying through counsel + propensity for press releases claiming victory
3:29 PM - 3 Nov 2016
136 136 Retweets 163 163 likes

21h
Fight Network ✔ @fightnet
We reject Mr. Corgan's social media comments today re:@impactwrestling. The matter is before courts/public discourse is inappropriate. (1/2)
Follow
WPC ✔ @billy
@fightnet So when you sent out the press release today and one during lawsuit (which is still pending FYI) that's not public discourse? Tsk!
3:32 PM - 3 Nov 2016
78 78 Retweets 155 155 likes

21h
Fight Network ✔ @fightnet
We reject Mr. Corgan's social media comments today re:@impactwrestling. The matter is before courts/public discourse is inappropriate. (1/2)
Follow
WPC ✔ @billy
@fightnet And the use of 'reject' in your tweet! Such strong language from network of fights
3:34 PM - 3 Nov 2016
82 82 Retweets 146 146 likes

Follow
WPC ✔ @billy
YEP: just-published NY Post article asserts that judge in case ruled against my receiving 2.7 in Anthem swap deal. This is FALSE. Case OPEN
10:52 AM - 4 Nov 2016
60 60 Retweets 78 78 likes

Follow
WPC ✔ @billy
Today, I'm FORMALLY requesting repayment of my 'so-called' loan by TNA, which I'm told stalled because they didn't know where to FIND ME
10:57 AM - 4 Nov 2016
96 96 Retweets 140 140 likes

Follow
WPC ✔ @billy
Laughs aside I'd put up 1.8mil for express purpose of becoming equity stakeholder and helping talented roster. Any other assertion is FALSE
10:59 AM - 4 Nov 2016
73 73 Retweets 102 102 likes

Follow
WPC ✔ @billy
So if I'm not repaid today in full and without conditions attached, I'll be forced to once more pursue remedy by taking TNA stock via court
11:01 AM - 4 Nov 2016
96 96 Retweets 128 128 likes

Follow
WPC ✔ @billy
Remember it was Anthem and not I who stood in open court and told judge they were prepared to PAY and in turn FUND good 'ol, solvent TNA
11:02 AM - 4 Nov 2016
83 83 Retweets 99 99 likes

Follow
WPC ✔ @billy
A company which they claim they have no business deal for behind-the-scenes yet have released 2 press releases saying they are TAKING OVER
11:03 AM - 4 Nov 2016
60 60 Retweets 83 83 likes

Follow
WPC ✔ @billy
So far be it from me to accuse someone I don't know of bending truth to win a case. That just wouldn't be nice, and I believe in being nice
11:05 AM - 4 Nov 2016
55 55 Retweets 98 98 likes

Follow
WPC ✔ @billy
Last thing: despite being called a lender by every arm of TNA propaganda I can still convert to 36pct stock or sell option to highest bidder
11:11 AM - 4 Nov 2016
81 81 Retweets 87 87 likes

Follow
WPC ✔ @billy
And that 'option' if you will to convert my boo-hoo-hoo loan to 36pct stock or auction it off to a PW titan doesn't require a court order
11:13 AM - 4 Nov 2016
99 99 Retweets 117 117 likes

[The Ultimate Nullifier]

www.f4wonline.com/tna-news/billy-corgan-im-formally-requesting-repayment-my-loan-tna-223961

BILLY CORGAN: I'M FORMALLY REQUESTING REPAYMENT OF MY LOAN TO TNA
BY DAVE MELTZER | @davemeltzerwon | NOV 4, 2016 10:25 AM

The situation with TNA and Billy Corgan had a few twists and turns this morning stemming from a New York Post article by Richard Morgan.

The key to the story at this point is that even though TNA is being controlled and funded by Anthem Sports & Entertainment, for reasons of saving money based on the Corgan contract, they are claiming they haven't been sold, even though for all real purposes they have.

The point to this is that Corgan's deal with TNA when fronting them $1.8 million (a figure Corgan has now confirmed) is that if the company was sold, he was entitled to a 50% transfer fee, meaning the company would owe him $2.7 million. Anthem Sports has been willing to pay Corgan $1.8 million, or at times $1.9 million (claiming they were willing to pay six
percent interest), but not $2.7 million, and also insist on him dropping his lawsuit against them before they would pay him.

Corgan is asking for the money, but refuses to drop the lawsuit, and claims that if they don't pay him he has the right to convert the payment into 36 percent of TNA stock. It would be a minority interest. Anthem is clearly avoiding the term purchase of TNA and going through with an actual purchase, in order to avoid the transfer fee.

In court they had said they would pay the amount of $1.9 million (they said the number owed plus six percent interest) on November 1st. As of today, it had not been paid. TNA is demanding that if they paid the money, that Corgan sign a release, breaking all ties between the company which would mean that he would have to drop the ongoing lawsuit and could not sue the company going forward.

In the Post article, a TNA source claimed that the judge (Ellen Hobbs Lyle of Nashville Chancery Court) ruled that the company had not been sold.

"Billy's saying the company was sold and he's owed $2.7 million," said an unnamed source. "But the court has already determined the company was not sold."

Technically in company papers Dixie Carter is still listed as owning 92.5 percent of company stock, even though the agreement privately in the new organization of the company would be that Anthem would own 85 percent, Aroluxe would own 10 percent and Carter would own the remaining five percent.

Corgan then started tweeting after the article came out:

"YEP: Just published NY Post article asserts that judge in case ruled against my receiving 2.7 in Anthem swap deal. This is FALSE. Case OPEN."

"Today I'm FORMALLY requesting repayment of my 'so-called' loan by TNA, which I'm told stalled because they didn't know where to FIND ME."

"Laughs aside, I'd put up 1.8mil for express purpose of becoming equity stakeholder and helping talented roster. Any other assertion is FALSE."

"So if I'm not repaid today in full and without conditions attached, I'll be forced to once more pursue remedy by taking TNA stock via court."

"Remember it was Anthem and not I who stood in open court and told judge they were prepared to PAY and in turn FUND good ol solvent TNA."

"A Company which they claim they have no business deal for behind-the-scenes yet have released 2 press releases saying they are TAKING OVER."

"So far be it from me to accuse someone I don't know of bending truth to win a case. That just wouldn't be nice, and I believe in being nice."

"Last thing: Despite being called a lender by every arm of TNA propaganda, I can still convert to a 36 percent stockholder or sell option to highest bidder."

"And that option if you will to convert my boo-hoo-hoo loan to 36 percent stock or auction it off to a PW titan doesn't require a court order."

The implication here is that Corgan would attempt to sell his percentage if they don't pay him to WWE, but I'm not sure what WWE would want with a minority interest in a rival company. WWE has had talks with existing companies about becoming a stockholder, but always insisted on 51 percent, which is why deals haven't been made.

[The Ultimate Nullifier]

www.bleedingcool.com/2016/11/03/smashing-pumpkins-vocalist-billy-corgan-loses-battle-control-pro-wrestling-company-tna/

Smashing Pumpkins Vocalist Billy Corgan Loses Battle For Control Of TNA Wrestling

In another universe, Smashing Pumpkins vocalist Billy Corgan could be the Gerard Way of wrestling – an aging 90s rock star forging a successful new career in a completely different profession. Unfortunately for him, in the universe we live in, Dixie Carter always wins in the end.

After investing in the ailing company and funding TV tapings with his Smashing Pumpkins millions, as well as starring in an on-screen role as an an authority figure, Corgan became president of the beleaguered TNA wrestling organization in August of this year. The company has been the subject of constant rumors of financial collapse for as long as anyone can remember, but many fans viewed Corgan a savior that could usher TNA and its flagship television program, Impact Wrestling, into a new era of creative and economic prosperity. They almost got their wish when Corgan filed a lawsuit in October geared at seizing control of TNA from majority owner Dixie Carter, claiming a clause in his contract allowed Corgan to remove Carter from power if the company became financially insolvent. Corgan also alleged that Carter was secretly trying to sell the company to rival WWE behind his back.

Corgan’s lawsuit was unsuccessful however, and today Anthem Sports & Entertainment, one of TNA’s various business partners, announced that they would fund operations for TNA and that Corgan was out of the picture:

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.”

Corgan isn’t giving up the fight so easily, however, telling gossip website TMZ, the Bleeding Cool of celebrity news:

“FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge.”

“Yesterday they asked for a day to ‘get $ together’ upon which, (yesterday or today) they’d ‘reach out directly’ to settle ALL claims. So they lied again and have used the time as a weapon.”

“FACT: I have still not been paid, and I’m exploring all remedies including new filings with court and converting to 36 pct. equity.”

So everything at TNA is back at where it started, with polarizing leader Dixie Carter still in power, and the company living to DELETE another day. When the world ends in nuclear destruction (check back November 10 for updates on this), only two things will survive: the cockroaches, and TNA Wrestling.

On the bright side, however, TNA will continue on through 2017, which means we’ll continue be treated to wonderful stuff like this for the foreseable future:

[The Ultimate Nullifier]

www.pwinsider.com/article/105923/billy-corgan-and-tna-settle-legal-dispute.html?p=1

BILLY CORGAN AND TNA SETTLE LEGAL DISPUTE
By Mike Johnson on 2016-11-11 12:17:00

Billy Corgan just announced on Twitter that he has settled his legal issues with TNA, so it sounds like they have come to terms regarding the money he's owed from his investment/loan into the company.

Corgan wrote, "Just signed my settlement with TNA/ANTHEM. And to fill in the blanks I'll do a few interviews next week to spell out what is/isn't in it But once again I appreciate those who've covered the story with balance. For the true story on TNA involves a lot of men and women I respect and appreciate (both roster and crew), and they deserve the best."

More as we get it.

[The Ultimate Nullifier]

www.f4wonline.com/tna-news/billy-corgan-tna-anthem-settle-their-financial-differences-224441

BILLY CORGAN, TNA & ANTHEM SETTLE THEIR FINANCIAL DIFFERENCES
BY JOSH NASON | @joshnason | NOV 11, 2016 2:29 PM

In a surprising move Friday, Billy Corgan announced on Twitter that he signed a settlement with TNA & Anthem Sports & Entertainment.

The leader singer of the Smashing Pumpkins didn't say much but did mention he'll be doing some media next week to "fill in the blanks" and "spell out what is/isn't in" the settlement.

Anthem property The Fight Network tweeted that they are "happy with arrangements made w/Mr. Corgan, allowing Impact Wrestling to put this behind them and focus on producing great shows."

The arrangement ends a contentious fall season for Corgan, Anthem, and TNA which saw Corgan file a lawsuit against TNA over gaining control over the company due to unpaid loans. The judge denied that claim, but as of the November 1st deadline to be paid back, Corgan still hadn't been made whole which led to a formal request for payment, hampered by a complicated contract arrangement.

For in-depth reporting on the whole TNA saga over the last few months, subscribe to the Wrestling Observer Newsletter and get immediate access.

[The Ultimate Nullifier]

www.pwinsider.com/article/106226/so-whatever-happened-to-tna-vs-billy-corgan-and-where-does-tna-go-from-here.html?p=1


SO, WHATEVER HAPPENED TO TNA VS. BILLY CORGAN? AND WHERE DOES TNA GO FROM HERE?
By Mike Johnson on 2016-11-28 11:16:00

Several weeks after Billy Corgan announced via Twitter that he and TNA had come to a settlement agreement on his issues with TNA, which led to him filing his lawsuit against the company, Dixie Carter and others, the lawsuit remains active within the Chancery Court of Nashville, TN. So, what happened?

PWInsider.com is told that while both sides came to an agreement in principal, getting that agreement officially signed on paper was a little trickier and there were several delays in that process since Corgan's announcement. The belief among those we spoke to over the last several days is that the final paperwork has been completed and that everything will be officially settled sometime this week or early next week at the latest.

So, once Billy Corgan is out of their hair, what happens next for TNA?

We have heard from sources that a number of lawyers for Anthem Media have been seen regularly at TNA offices in recent weeks and the belief is that at some point after the Corgan matter has been closed, Anthem will then announce that they have purchased majority ownership in Impact Ventures. At that point, it should be interesting to see what sort of changes are made to the internal structure of TNA, both from a creative and from a staffing standpoint.

Based on material Corgan's attorneys uncovered, the initial plan was for Anthem to own 85% of the company, Aeroluxe would own 10% and Dixie Carter would be left with 5%, leaving her in a position to benefit should the company take off at some point but being pretty much out of power when it came to decision-making. If that agreement holds up, we could also see Jason Brown of Aeroluxe installed at the CEO of Impact Ventures, although the previous announcement made by Anthem and TNA seemed to imply that Anthem's Ed Nordholm would be the one making all decisions going forward.

So, we still have some internal rapids to smooth out for the company before they hit easy waters.

TNA is still slated to film Impact Wrestling episodes the first week of January 2017 at Universal Studios in Orlando, Florida.

[The Ultimate Nullifier]

www.sescoops.com/anthem-announces-settlement-with-billy-corgan/

Anthem Announces Settlement With Billy Corgan
By Scott Lazara on November 28, 2016
Anthem Sports & Entertainment issued the following to us today:

Anthem Sports & Entertainment and William Corgan Announce Settlement

Toronto, Canada (November 28, 2016) – Anthem Sports & Entertainment Corp. and William “Billy” Corgan today announced that they have completed an agreement to resolve Mr. Corgan’s litigation against Impact Ventures, parent company of TNA Impact Wrestling. Anthem has acquired Mr. Corgan’s loan to Impact Ventures on undisclosed terms, and Mr. Corgan has dismissed his proceedings against Impact Ventures and TNA Impact Wrestling.

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.

Anthem Executive Vice President Ed Nordholm stated: “We are pleased to conclude these arrangements with Mr. Corgan. The events leading to litigation were unfortunate but also reflected all parties’ desire in good faith to support the company. The arrangements we have made with Mr. Corgan respect all parties’ gratitude for his contributions to Impact Wrestling, both creatively and financially. We can now close this chapter and look forward to making Impact Wrestling a leader in the professional wrestling world.”

“I’m pleased that an agreement is now in place that allows wrestling operations to continue,” said Corgan, Impact’s former president, “for my interest from the start was to provide support, be it material or creative, to such a great roster and crew. And as I plan on continuing in the business side of pro wrestling, I look forward to seeing where Anthem’s leadership takes the company in 2017, and wish them the best.”

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, 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, and Gail Kim and the lovely and lethal Knockouts. Its highly successful flagship, IMPACT WRESTLING, broadcasts in more than 120 countries around the world, including Thursdays at 9 p.m. ET/PT on Pop, a joint venture of CBS Corporation and Lionsgate, in the United States and on Fight Network in Canada

[The Ultimate Nullifier]

www.pwinsider.com/article/106403/corgan-vs-tna-lawsuit-officially-dismissed.html?p=1

CORGAN VS. TNA LAWSUIT OFFICIALLY DISMISSED
By Mike Johnson on 2016-12-06 18:27:00
The lawsuit former TNA President Billy Corgan brought against TNA parent company Impact Ventures LLC, TNA Wrestling itself, CFO Dean Broadhead, President Dixie Carter and Serg Salinas was officially dismissed by the Chancery Court of Nashville, TN on 12/5.

The lawsuit was dismissed at Corgan's request after he came to a financial settlement with Anthem Sports & Entertainment, the parent company of The Fight Network, which is now financially backing TNA and now that the Corgan lawsuit is closed, is expected to announce it has purchased majority ownership of TNA from Dixie Carter.

In the ruling dismissing the lawsuit, Chancellor Ellen Hobbs Lyle noted that Corgan would be responsible for paying all court costs and that the lawsuit was being dismissed without prejudice. That means that Corgan would be free to re-file the suit down the line. In an interview last week with yours truly, Corgan made it clear that the settlement only released TNA, Impact Ventures LLC and Anthem from future legal claims, meaning Carter, Salinas, Broadhead and perhaps others could still find themselves in legal crosshairs down the line.

Corgan's lawsuit against the company, filed back in October, sought a declaration from the court that he was, by virtue of a pledge agreement he made with Carter, entitled to Carter's 92.5% of the company, her voting rights and had the ability to replace the current managers with designated managers of his choosing. The court did not rule with him on those matters.

Corgan was also seeking damages for the breach of contract, and at one point, had a temporary injunction preventing preventing the defendants from making business decisions that could "further harm" Corgan and the company and prevented them from attempting to sell the company or it's assets until the lawsuit is resolved. Corgan's lawsuit revealed that while he had been named President, Carter was still acting without his knowledge to make deals on the company's behalf, including a potential sale of TNA assets to WWE that ended up not happening.