Did WWE Make Bid To Buy TNA?

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Source: New York Post

The New York Post has a story about TNA President Billy Corgan and his plans to become the majority owner of Impact Ventures. Corgan said that a sale price has been agreed to and that he hopes to have the sale completed by the TNA Bound For Glory pay-per-view on October 2nd.

“I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going,” Corgan said.

The story noted that one of the hurdles is that Dixie Carter, Corgan, Aroluxe Marketing and Canada’s Fight Network all have equity stakes in the company. It also stated that WWE and Sinclair Broadcasting, which owns ROH, are rumored to have made recent bids.

Corgan wouldn’t reveal what the sale figure is, but The New York Post estimated it to be at around $40 million by using WWE’s market value of two times revenue. Obviously that figure sounds highly questionable at best.

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