WWE: Major Problems Arise Between TNA & WGN?; Latest News Inside

Information has come out that the deal between NWA-TNA and WGN might have fallen through at the last minute.

The deal was supposedly going to be announced tomorrow but we're told Dixie Carter did something that prevented a contract from being signed. That's not to say that the two sides won't reach an agreement but as of right now the deal is off.

So far the company hasn't told any of it's talent about negotiations breaking down for fear of causing a panic. The saving grace here is that TNA left Fox Sports Net on really good terms so it's possible a new agreement could be reached with them.

Hopefully this matter will be resolved within the next day or two, but as it stands TNA has no TV outlet aside from pay-per-view.

Source: Wrestling Exposed

From the Multi Channel News website:

By R. Thomas Umstead 5/30/2005 7:50:00 PM

Upstart pro wrestling outfit Total Non-Stop Action Wrestling is on the verge of dropkicking FSN as it seeks a more lucrative TV tag-team partner, possibly Superstation WGN or Spike TV.

TNA and FSN have yet to agree on an extension of its one-year agreement, which expires May 31. The current deal calls for TNA to lease time on Friday afternoons for its weekly, one-hour series.

An FSN spokesman confirmed that the two sides were talking but would not address specific negotiating points. Executives from TNA, which also offers monthly pay-per-view wrestling events, could not be reached for comment at press time.

As the FSN deal expires, industry sources close to the company said TNA is talking to Superstation WGN and Spike TV about distribution of its weekly series. Unlike the FSN agreement, sources said TNA wants to pin a fee for its programming, which has averaged a 0.2 household rating over the course of its FSN run.

Superstation WGN would not comment on the matter. A Spike TV spokesman would not confirm or deny talks with TNA, saying that the male-targeted network 'listens to all different types of pitches from different types of programmers.'

The more likely scenario for TNA would be a WGN deal, according to sources. For more, see R. Thomas Umstead's story on page 11 of Monday's Multichannel News.

From the Office of Dave Nelson.

THE NELSON CORPORATION AND PARTNERS PULL TNA OFFER

As of Noon on May 31, 2005, the offer to purchase TNA Wrestling from Panda has been withdrawn. The 10 Million dollar offer has been retracted as the deadline has passed and no response was given. We feel that more then adequate time was given for Panda Energy to respond and at this time will move forward with the start of a new Wrestling Company to kick off in early Fall of this year.

We recognize the fact that TNA has lost the deal with WGN and currently has no Television Deal to carry the company except for the Pay Per Views they do monthly which do not clear enough revenue to keep the company afloat.

We are aware that there could be a possible deal with Spike down the road, but with the current deal that was in the works with Spike it would not benefit the company in a long term Network deal, and it would prove fatal to TNA to make a deal that is contingent on ratings.
We do wish TNA the very best and hope that there will be a light at the end of the tunnel, but it would appear that TNA has a rough road ahead.

Now on the NWA Ohio side, we will move forward in the next few months with the announcement of the next big company, and will at that time disclose the names of the two wrestling figures backing Dave Nelson and his venture to build yet another Federation here in North America, and open a new avenue for professional wrestling today. Together with Old School and new age wrestling, we will design a product that offers the best of both worlds, tradition and Extreme wrestling, offering good story lines, and well maintained Events that come to small towns and big cities alike, to bring the fans a show that gets up close and personal like no other company has yet to offer.
A new beginning, and a Fresh product for the people who matter most, YOU THE FANS.....

Thank you, Dave Nelson, CEO

Source: Wrestling Exposed

Credit: PWInsider.com

As we reported earlier today, Dave Nelson decided to pull his $10 million bid to purchase TNA as he never heard back from the company. Nelson also claims TNA lost their TV deal with WGN and a potential deal with SpikeTV would not be structured in a way to benefit the company.

WGN represenatives are currently telling the media that negotiations with TNA are ongoing, although a contract has yet to be signed. In addition to that, WGN reps claim any report implication negotiations has ended between TNA and WGN are absolutely incorrect.

SpikeTV represenatives currently decline to comment on the status of any negotiations with TNA for a television deal.

For what it's worth, sources claim the Nelson offer was never taken seriously by TNA, so the offer being pulled isn't considered such a big deal.