Total Nonstop Action Wrestling

Total Nonstop Action Wrestling is an American professional wrestling promotion founded by Jeff Jarrett and his father Jerry Jarrett in May 2002. The company operates out of Nashville, with offices in Orlando and Manhattan. TNA Wrestling was originally a member of the National Wrestling Alliance and was also known as NWA: TNA. TNA withdrew from the NWA in 2004, but acquired the rights to use the NWA World Heavyweight Championship and NWA World Tag Team Championship title belts until the year 2014.

Background

After the closure of World Championship Wrestling and Extreme Championship Wrestling in March and April 2001, there was still a demand for southern-style and cruiserweight wrestling that Vince McMahon's World Wrestling Entertainment was not fulfilling. TNA attempted to cater to this niche market by offering an alternative to WWE, and by recruiting many former WCW and ECW performers who had not signed with WWE. On May 10, 2002, J Sports and Entertainment (a limited company with Jerry Jarrett as chief executive officer and Jeff Jarrett as president) announced the formation of Total Nonstop Action.

Related Topics:
World Championship Wrestling - Extreme Championship Wrestling - March - April 2001 - Southern-style - Cruiserweight - Vince McMahon's - World Wrestling Entertainment - May 10 - 2002 - Jerry Jarrett - Chief executive officer - Jeff Jarrett

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While several companies, such as World Wrestling Allstars, had attempted to fill the void that the closure of WCW and ECW left, TNA has been the most successful. Some suspect a partial motive behind the creation of TNA was to provide employment and mainstream exposure for Jeff Jarrett, the son of long-time wrestling promoter Jerry Jarrett, who was unemployed after the collapse of WCW, and was unable to find work with the McMahons (ostensibly because he blackmailed Vince McMahon for a large sum of money to perform after his contract expired while he held the Intercontinental Championship in 1999).

Related Topics:
World Wrestling Allstars - Blackmailed - Intercontinental Championship - 1999

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From its formation, TNA lost large sums of money, leading to the initial investor, HealthSouth Corp, withdrawing financial support. In October 2002, Jerry Jarrett sold his controlling interest in the company to the privately-held company Panda Energy International. On October 31, 2002, Panda Energy and J Sports and Entertainment created the limited liability company TNA Entertainment (J Sports and Entertainment was later dissolved). Jeff Jarrett was appointed Vice-President of TNA Entertainment, while Dixie Carter, the daughter of Panda Energy chairman and chief executive officer Robert W. Carter and a former TNA publicist, was appointed President. Panda Energy owns 71% of TNA Entertainment, LLC. http://www.nwaohio.com/interview.htm

Related Topics:
October 2002 - Panda Energy International - October 31 - 2002 - Limited liability company - Dixie Carter - Chief executive officer - Publicist

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Dixie Carter is an avid wrestling fan, and has become highly involved with the day-to-day operation of the company. Panda Energy also appointed Chris Sobol, the Panda Manager of Business Development, as TNA Vice President of Operations, and former Panda Energy executive Frank Dickerson as chief executive officer. TNA has continued to lose money since the takeover by Panda Energy, with costs of approximately $1,000,000 per month not offset by revenue http://www.dallasnews.com/sharedcontent/dws/bus/columnists/all/stories/092805dnbusHall.113f6aee.html, but Panda Energy has repeatedly reaffirmed their committment to TNA. It should, however, be noted that Panda Energy has itself been described as "financially struggling". http://biz.yahoo.com/ic/60/60388.html In September 2005, Robert Carter estimated that TNA would become profitable by 2006.

Related Topics:
September 2005 - 2006

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In May 2005, the Nelson Corporation tendered a $10,000,000 offer to buy TNA from Panda Energy. The offer was withdrawn on May 31, 2005 after Panda Energy failed to express any interest.

Related Topics:
May 2005 - Nelson Corporation - $ - May 31 - 2005

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