Major Backstage Update On SpikeTV Dropping iMPACT!

Source(s): The Wrestling Observer & Sescoops

UPDATE x 5: Late Sunday night, news broke that Spike TV has canceled TNA iMPACT! Wrestling and will not be renewing their TV deal, which expires in October.

As noted earlier, TNA held a major company meeting on Friday and dropped the bombshell news on her staff. According to sources close to the situation, she attempted to spin the situation in her favor, saying that TNA decided to leave Spike TV because they failed to promote the company effectively. While she might have a point there, all indications are that Viacom and Spike TV made the decision to end their relationship with TNA for a variety of factors.

Spike’s decision to not renew TNA’s TV deal was made immediately after news of Vince Russo working for TNA became public. It was rumored for months that Russo was working as a consultant for the company, which he and TNA vehemently denied. Earlier this month, Vince Russo inadvertently CC’d Mike Johnson on an internal email intended for Taz and Mike Tenay, essentially confirming that he was in fact working for TNA.

There were many reasons that TNA did not want that knowledge made public. First, Russo’s reputation speaks for itself and the majority of wrestling fans would not have a lot of faith in TNA’s decision to rehire one of the most infamous and controversial writers in the industry. There was also an issue of TNA’s relationship with The Great Muta and his Japanese Wrestle-1 promotion, which currently has a partnership with TNA. Muta has very negative feelings about Vince Russo due to his negative portrayal of Japanese wrestlers over the years. It’s believed that he was assured Vince Russo was not working for TNA when he agreed to partner with TNA and host Bound For Glory in Japan later this year.

However, the main reason TNA did not want Russo’s involvement made public was because Spike TV executives despise him. There are a number of reasons Spike did not want anything to do with Russo, many of them related to the type of programming Russo presented during his previous run with the company.

TNA is obviously in a very bad spot right now. With just two months before iMPACT! Wrestling is dropped from Spike TV, there is not a lot of time for them to find another cable network willing to pick them up. Additionally, it’s highly unlikely they will be able to negotiate a new contract that will earn them anything close to what they were getting from Spike. TNA’s current International TV deals are not lucrative enough to keep the company going and the company will have a very hard time doing live shows in the Untied States without a national TV clearance.

UPDATE x 4: The Wrestling Observer notes that a number of media sources are now confirming that Spike TV will not be renewing iMPACT! Wrestling when the contract expires in just over two months.

There were reports that Carter positioned to her staff at a meeting on Friday or Saturday that they were leaving Spike on their own volition due to a lack of promotion, but others have confirmed Spike had told Carter they were not going to offer a new deal.

The decision came days after Spike found out that Vince Russo was still working for TNA.

At this point direct sources at Spike did not respond to questions from just after the meeting and most within TNA, including talent, were not aware there was any issue until today when rumors started flying.

This puts the company in grave position. They have UTA representing them in an attempt to get a new television deal, but unless they could get a deal that pays similar to what they were earning on Spike, financially, the company that had been struggling financially with the Spike payments, would not be in good shape.

This past Thursday’s episode was the highest audience for the series since April of this year.

UPDATE x 3: Here is the full TMZ.com article regarding the split between TNA and SpikeTV:

TNA Wrestling’s flagship show “Impact Wrestling” could soon be without a home — Spike TV quietly let the league know it’s not renewing their TV contract … TMZ has learned.

Multiple sources with direct knowledge of the deal … tell us Spike execs contacted TNA President Dixie Carter this week to break the news — and the following day Carter informed members of her inner circle.

TNA’s current deal with Spike reportedly runs through October. It’s unclear at this point when “Impact Wrestling” will stop airing on Spike.

We’re told there’s no bad blood, and Spike gave TNA such advance notice so it would have time to shop for a new TV deal.

TNA’s show debuted on Spike TV in October 2005 — and helped the league rise to #2 on the wrestling scene … behind the WWE.

We’ve called TNA and Spike for comment … so far, no word back.

UPDATE x 2: According to TMZ, Spike TV “quietly” informed TNA that they would not be renewing their TV contract. Sources close to the situation state that Spike TV executives that contacted TNA President Dixie Carter this week to break the news, with Carter breaking the news to members of her inner circle the next day.

TNA’s contract reportedly runs through October, but at this time it is not clear if they will run episodes through then or not. Spike TV reportedly told TNA of the news now to allow them to shop for a new TV deal.

TNA iMPACT! debuted on Spike TV back in October of 2005.

UPDATE: WWE Hall of Famer Jim Ross sent out the following very interesting tweets on Sunday night:

This could well be a blockbuster week in the wrestling business….@WWE financials….@SpikeTV @IMPACTWRESTLING relationship..stay tuned.

— Jim Ross (@JRsBBQ) July 28, 2014

Rampant rumors out of NYC re: Spike/TNA relationship being very much in jeopardy. Hope scuttlebutt is wrong. Pulling for @IMPACTWRESTLING

— Jim Ross (@JRsBBQ) July 28, 2014

ORIGINAL: Okay so take this as a rumor for now, but it’s a pretty big rumor and is getting some traction around the internet, thus our reporting it to you. Dixie Carter held a meeting at TNA headquarters in Nashville on Saturday and it concerned the results of a meeting with Spike TV representatives on Thursday afternoon.

According to sources, multiple people close to both TNA and Spike TV have told them that Spike doesn’t want to renew its contact with TNA, which would mean that iMPACT! would be cancelled if they can’t find a new network very quickly. There’s no word on whether the negotiations are still trying to work out a last-minute deal or not.

TNA’s deal with Spike is reportedly set to expire in October. It’s important to note that the show is still under contract to air in other countries, but whether that would be economically feasible without the revenue from an American cable network or not is up in the air.

More on this story, obviously, as we learn more.

REPORT: TNA Already Has A New Television Deal In Place – Which Network?!, WHOA (>>) ………