Total Nonstop Action (TNA) Wrestling is a privately held American professional wrestling promotion based in Nashville, Tennessee. Founded by its former President, Jeff Jarrett, and former Chief Executive Officer (CEO), Jerry Jarrett, in 2002 as J Sports & Entertainment, LLC (operated as NWA: Total Nonstop Action; a.k.a. NWA-TNA), it is the second-largest professional wrestling promotion in the United States, after WWE and before Ring of Honor.
Panda Energy International purchased a controlling interest (71%) in the company in 2002 from Jerry Jarrett, re-incorporating it to TNA Entertainment, LLC in the process. Then, in 2012, Panda Energy divested itself of its stake in TNA. Jeff, the company's former Vice President, departed the company as Executive Vice President of Development/Original Programming on December 22, 2013, but remained as minority shareholder until his return on June 24, 2015. Jarrett's departure as minority shareholder, and therefore his complete departure from the company, came as a result of his return to the promotion, with the deal for his return including the transfer of his minority stake. According to reports, in 2012, when Panda Energy divested itself of its ownership stake in TNA, TNA's President and Panda Energy founder Robert Carter and President and Chief Executive Officer Janice Carter's daughter, Dixie, acquired said stake, making her TNA's majority shareholder. Then, in 2015, when Jarrett sold his minority stake, Dixie acquired that as well, placing her as TNA's sole shareholder, along with her continuing as President.
According to a report, on August 7, 2015, TNA filed a new business name of Impact Ventures LLC. It was reported near the beginning of 2016 that Aroluxe Marketing, a Brentwood, Tennessee-based marketing agency, had taken a stake in TNA at the start of 2016 in return for providing partial funding, as well as taking over TNA's production operations. It was reported on June 6, 2016 that Smashing Pumpkins frontman Billy Corgan acquired a minority stake in TNA from Dixie Carter, placing him as TNA's minority owner and Dixie's partner within TNA; however, it has since been clarified through a lawsuit Corgan has filed against TNA that he provided a loan to Dixie. Then, on August 12, 2016, TNA appointed Corgan as the company's new President and the transition of Dixie from President to the company's new Chairman and Chief Strategy Officer. It was reported on September 16, 2016 by the New York Post that Canada's Fight Network, through its parent company, Anthem Sports & Entertainment Corporation, had taken a stake in TNA. On November 4, 2016, the New York Post reported that Corgan had been removed as President, then on November 30, it also reported that Corgan had settled his lawsuit against TNA, with Anthem Sports & Entertainment Corp acquiring the loans Corgan made to Dixie in the process.
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