Billy Corgan Buying TNA Wrestling? Just a Rumor, Spokesman Says

Tuesday, 05 Nov 2013 07:07 PM

By Morgan Chilson

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Hot Internet speculation that the Smashing Pumpkins’ Billy Corgan will buy TNA Wrestling was labeled a “rumor” by Corgan and TNA on Monday.

TNA Wrestling offered Newsday a copy of the memo sent to employees last week from the chair of TNA’s parent company, Panda Energy, that referred to “false rumors” that the company will sell.

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“An unfortunate aspect of this business is that there are wrestling ‘reporters’ who consistently post ‘news stories’ without proper facts,” Newsday reporter Janice Carter said. “I want to assure you these are just rumors and that I am committed to TNA and its future.”

A spokesperson from the Corgan camp didn’t address the rumor, Newsday said. “Billy is completely focused on Resistance Pro's upcoming 2nd anniversary [show on Nov. 23],” the spokesperson said.

But stories of the possible sale of TNA Wrestling are still floating online, many making the connection that Corgan has to pro wrestling through his position as founder of Resistance Pro Wrestling.

Alternative Nation reported a “major update” on the rumor on Saturday, quoting a “secondhand source who is close to a key figure” who said Corgan is “far along” in purchasing TNA.

That source implied the sale was a “done deal,” Alternative Nation said, although specifics were unclear, including what percentage of the company Corgan would own.

Alternative Nation published a subsequent article saying that many of the online rumors were being twisted and that the publication made it clear the source was secondhand. In that article, Alternative Nation also mentioned that Corgan smacked down a Wrestling Observer reporter who wrote that Corgan didn’t have the financial wherewithal to purchase TNA Wrestling.

But whether the rumors are true or not, one person took a positive look at all the publicity for TNA Wrestling:

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