According to PWInsider.com, the lawsuit brought forth by Billy Corgan against TNA parent company Impact Ventures LLC, TNA Wrestling itself, CFO Dean Broadhead, President Dixie Carter and Serg Salinas was officially settled on December 5th in the Chancery Court of Nashville, TN. The lawsuit was settled after Corgan came to an agreement with Anthem Sports & Entertainment, the parent company of Fight Network.
Of note in the settlement is the judge ruling Corgan must cover all court costs and the suit was dismissed without prejudice, meaning Corgan could re-open the lawsuit in the future if he wants to. Furthermore, the dismissal only releases TNA, Impact Ventures LLC and Anthem from future legal claims, meaning Dixie Carter, Dean Broadhead, and Carter’s husband Serg Salinas could potentially be sued by Corgan if he chooses to do so.
To quickly recap the lawsuit, Billy Corgan filed back in October, and argued he was entitled to Dixie Carter’s 92.5% ownership of TNA due to a pledge agreement he made with Carter. Corgan furthered he he was entitled to Carter’s voting rights and the ability to replace the current managers with designated managers of his choosing. The court did not rule in Corgan’s favor.
Following the official settlement of the lawsuit, Anthem Sports & Entertainment is now financially backing TNA and is expected to announce it has purchased majority ownership of TNA from Dixie Carter.
Nick was born and raised in Detroit, Michigan, and lived there until the age of 18, when he decided to pack his flack jacket and move to New York City.
