TNA In Talks With Potential Investor

Following news earlier this year that parent company Panda Energy International was looking to sell part of the rights to TNA Entertainment, LLC, The Wrestling Observer's Dave Meltzer is reporting that a serious party with an interest in investing has emerged. A sticking point between the two sides, however, is that the potential buyer wants an estimated 55% of the wrestling promotion, while TNA President Dixie Carter wants Panda to maintain majority control. TNA was founded in 2002 by Jeff and Jerry Jarrett, who used a weekly PPV model to air company programming rather than getting a television deal. This proved to be financially unsuccessful, and when a key investor pulled out only months after the company formed, TNA looked to be doomed. In October of 2002, Carter convinced her parents, the owners of Panda Energy, to invest in TNA, and the Carters bought a 71% share in the promotion. Since then, their investment has kept the company alive despite a track record of monetary loss. This latest venture by the Carters is not the first time they've tried to sell TNA. In 2014, Jeff Jarrett (who had left the company the year before) and country music singer Toby Keith attempted to negotiate the purchase of TNA from Dixie's father, Robert. According to reports, the deal fell through when Jarrett and Keith refused to agree to Robert Carter's request that Dixie be kept on staff in both an on- and off-screen role.