TNA has until tomorrow, November 1, to repay Billy Corgan’s three loans as per their original agreement
Brown has been with Aroluxe since a and the Los Angeles Film School
? The Tennessean investigative reporter Nate Rau reported just minutes ago that TNA President Billy Corgan lost his temporary restraining order case against TNA as Chancellor Ellen Hobbs Lyle sided with TNA. “Judge strikes down Corgan’s request for a temporary restraining order; Big win for Dixie and TNA,” he wrote on Twitter. Corgan was trying to get an injunction against the company and its various stakeholders to prevent them from selling the company to other individuals without his approval. He is owed over a million dollars that he loaned to TNA and while TNA and Anthem Sports & Entertainment have offered to pay him out, he refused, and instead wanted Dixie Carter’s 92.5% share of the company after he said that TNA is insolvent. With this temporary restraining order lifted, Dixie Carter is free to sell TNA to whoever she wants without Corgan’s approval. There seems to be an agreement already between Carter, Aroluxe, and Anthem Sports & Entertainment where Anthem will 85% control, Aroluxe gets 10%, and Dixie remains on board with a 5% share. Despite the outcome of this temporary restraining order, the separate lawsuit which was filed will still go forward so the fight between Corgan and TNA is not even close to being finished.
? Following today’s ruling in Nashville, it seems that Billy Corgan’s role within TNA is effectively over. TNA announced Corgan’s hiring on and was appointed as Senior Producer, Creative and Talent Development. “I’ve known Billy for years and have always been blown away by his musical artistry, as well as his knowledge and understanding of professional wrestling,” said Dixie Carter at the time. “He has always impressed me with his creativity and passion for our business. Billy is truly gifted and understands the emotion tied to the psychology of connecting with an audience. The more we talked, the more I realized his perspective has the potential to make a huge impact on our brand.” But a year later, things started to get more difficult. In mid June of this year it was reported that Corgan gave his first loan to TNA, one of three loans that in total amount to over 1 million dollars. Two months later, following additional funding from Corgan, Dixie Carter promoted him to TNA President, replacing her while she took the role of Chairman and Chief Strategy Officer. “Billy is a visionary, an iconic artist and savvy businessman with an incredibly gifted creative mind. He has built a decades-long successful global brand, and also has a deep passion and understanding for professional wrestling,” said Carter upon the appointment. Corgan’s money is expected to be returned by tomorrow, including interest. Corgan was fighting to get an additional premium fee apart from the money he’s owed but after today it seems that all he’s getting is what he gave to TNA plus a little more in interest.
During the case last Wednesday, TNA attorney Travis Parham painted Corgan as a loan shark and whose sole objective was to oust Dixie Carter from power at all costs
? The man who is expected to lead TNA going forward is Jason Brown, the Chief Executive Officer of Aroluxe. Despite the fact that Anthem Sports & Entertainment will own the majority of TNA, Brown from Aroluxe is getting the TNA CEO role on a three year deal according to documents revealed in court last week. Aroluxe is the company in charge of all the production for TNA and has the Harris twins on its staff. Aroluxe is an integrated marketing agency located in Brentwood, Tennessee which produces creative content and commercials, provides enterprise web and application development, strategic campaign development and execution, social media, digital advertising and management, and manages supporting services for its clients.