Over the past week, PWInsider.com has heard multiple reports that TNA was seeking outside investors to come on board with the company. We had also heard that President Dixie Carter was seen in Los Angeles specifically for those meetings, including one at the Pop offices.
We reached out earlier this week, requesting comment from TNA. This evening, TNA Executive Vice President,Creative & Talent Relations John Gaburick returned PWInsider.com's request for comment via telephone.
When asked whether the company was seeking outside investors, Gaburick confirmed that was the case, noting, "TNA has been in in strategic partnership talks with several major global media companies and investment firms about the company's next phase of growth."
Gabrick, as you might imagine given the nature of the ongoing conversations, would not confirm who any potential partners were.
Gaburick did confirm that Carter was in Los Angeles for meetings, adding that she and the "TNA Executive team" have spent a lot of time of late not just in LA but also in New York City. Gaburick noted, "TNA CEO Dixie Carter has talked in recent media interviews about the company's execution of its 5 year growth plan" and that the meetings were in line with making those plans happen, adding, "It's a very exciting time for TNA."
Gaburick declined comment when asked for additional details, again citing that conversations were ongoing.
Why is TNA looking for investors?
As far as why the company is looking for investors, it's this simple: Dixie Carter wants the company to be bigger. She wants TNA to have a bigger piece of the pie. TNA, in it's current state (we've heard the company has severely cut back on office space in the last few months and cut talents who were originally scheduled for the UK tour from that tour), can't do that. TNA is stuck where they are and while that might keep them going, it's not going to make the company profitable long-term. So, they are looking for ways to build the company up. TNA claims to have a five-year plan for their future. An infusion of capital will help them achieve whatever that plan is. A new partner coming on board and taking a percentage of the company will help them achieve that.
Where's Panda Energy?
As we've written about in the past here on PWInsider.com, all TNA operations and all TNA paychecks, etc. are now coming out of Nashville, TN. The belief is that while Panda may still be an owner in name, they are not actively involved in any aspect of TNA operations going forward, nor are they continuing to fund the company. It is believed that this went down around the same time when Jeff Jarrett was bought out of his minority stake in the company last year. By all accounts, Panda has not been fronting the bills for some time.
I thought the new TV deals overseas were helping?
They are helping. They can keep the company afloat, but Dixie Carter wants to be a player and she can't be with what she has to work with at the moment. So, they are looking for potential outside investments and partnerships. Whether there will be a deal and whether it can help TNA, we will see.
Who are they talking to?
Obviously, TNA isn't going to say who they are talking to, but we've heard one group was based in the UK and we know they've met with others in LA and NY, including meetings at the Pop Network.
Is TNA for sale?
Everyone I've spoken to around TNA has been careful to say they are looking for partners, but let's call a spade a spade - if someone came along with the right price, even if Dixie Carter wasn't initially looking to sell, she'd consider it, as would anyone, if the right offer came along. John Gaburick repeatedly said, however, they were looking for a "strategic partner", not a new owner...and Dixie Carter has turned down sale offers before. However, to me, this is a big TBD.
