Justin Barrasso of Sports Illustrated is reporting that Global Force Wrestling, under the ownership of Anthem Media, is hemorrhaging money.
Barrasso also mentioned that because of this, Anthem is ready to get out of the wrestling business and sell GFW.
No one should be surprised by this since Anthem had to help GFW get out of several legal binds since acquiring the company earlier this year. This includes the Billy Corgan situation as well as a lawsuit that they were hit with by their former production company, Virginia’s Audience of One Productions.
It seems as though that GFW can't stop producing bad press after getting rid of Chief Creative Officer Jeff Jarrett. The company claims that he needs to focus on personal issues. Anthem declined to comment when pressed on the subject, which tells us he was forced out.
The finances at GFW are such a mess that Anthem allegedly had to get rid of the Fight Network in order to fund GFW. What's even more interesting is that Jarrett apparently still owns the name, Global Force Wrestling. If Anthem ends up getting out of the wrestling business, they would be selling Impact Wrestling. We know, it's confusing.
The one thing that could help Anthem possibly make some money if they were to sell Impact Wrestling is GFW has a great library of film. WWE stars like AJ Styles, Samoa Joe, Bobby Roode and Raw general manager Kurt Angle created some great content for TNA.
Before Anthem bought GFW, the WWE, Sinclair Broadcasting and Billy Corgan all had interest in purchasing the company. With John “Big” Gaburick still a part of GFW, a deal with the WWE could make sense since he's close with WWE’s Executive Vice President of Television Production, Kevin Dunn.
No matter what happens though, it looks like Anthem has had enough of GFW after only several months of owning the wrestling commodity. A sale looks like it's imminent at this time.
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