Breaking News: WWE Buys TNA's Video Library, New TNA Majority Owner Revealed

Some major wrestling news broke today, regarding the sale of TNA. Wrestlezone's Justin Labar reported today that the WWE is buying TNA's video library, and the company will be re-branded under new majority owner Billy Corgan.

Just got a text saying #WWE to buy TNA video library & Billy Corgan is going to be new majority owner of TNA that he'll likely rebrand. Wow!

— Justin LaBar (@JustinLaBar) October 5, 2016

This is obviously major news, as TNA's future is now unknown, as we don't know what Corgan plans to do with the company as of yet.

What we do know is that Vince McMahon now has TNA's library, which would allow WWE to add all old PPVs and Impact episodes to the WWE Network. It will also make things a lot easier when they inevitably do documentaries on former TNA stars in the company, such as AJ Styles, Samoa Joe and Bobby Roode.

The news surfaces two days after reports that Dixie Carter addressed the TNA locker room prior to Impact tapings on Monday night.

This also follows what Jim Ross revealed on his podcast, The Ross Report, earlier this week when he said a deal for WWE obtaining the TNA library was imminent:

"WWE is allegedly very close to buying the TNA library. Not the promotion, the TNA library. Obviously, with WWE Network, the TNA library could be a nice resource, a nice asset. Now, you know, TNA does have some talents I’m sure WWE would like to have down the road, but now I hear that WWE and TNA have had talks about buying the library and that a deal is imminent."

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