Despite the last ditch effort to impress Spike TV officials at the recent IMPACT tapings in New York City, the network has not chosen to renew the weekly wrestling show according to TMZ.
It’s not yet clear when Impact will cease airing, but it will most likely be in October when the contract officially expires. This gives them plenty of time to seek out other opportunities.
At this stage it certainly does not mean that this is the end of TNA. They still have several international TV deals and projects ongoing (such as those with Challenge TV in the UK) and could conceivably attract another network with their relatively stable ratings history.
TNA’s future is solely down to the Carter family and whether they feel it’s worth proceeding. Dixie’s father bought the majority stake in the company from Jerry Jarrett way back in 2002 through Panda Energy, and has stuck around ever since. This was before the Impact show even existed, and there’s been times where they’ve been between TV deals before.
Unlike WWE all of TNA’s investment is privately held, thus there aren’t any shareholders to keep happy. They may have certain debts to answer for, however that’s essentially all off their own back.
Recent budget cuts were not because they were running out of money, but because they chose to stop funnelling as much money in. In other words it all comes crashing down when they and they only decide to pull the plug.
Now obviously the budget cuts were a sign that perhaps the Carters were getting frustrated with the lack of profitability. And with rumors that they were open to a sale, one has to wonder whether losing Spike TV isn’t the last straw. But we won’t know until we know.
Perhaps most interesting is the status of Jeff Jarrett, who’s slowly launching his own promotion and if the hype is to be believed, working on a national TV deal himself.
Jarrett kept 29% of TNA when the Carters came on board and still holds this minority position today. If the Carters ever did pull out Jarrett could potentially buy the company back. Or if they sold it to somebody else Jeff could re-emerge in a prominent position.