Anthem Reportedly Hemorrhaging Funds – Wants Out of GFW

According to Justin Barrasso of Sports Illustrated, Global Force Wrestling, under Anthem Media’s ownership, has been “hemorrhaging funds” and that “sources close to the situation have confirmed that Anthem is ready to withdraw itself from the wrestling industry and sell GFW.” There were several cutbacks at the last TV tapings, with a number of talents not brought in and others only used for certain tapings before being flown home, instead of staying for the entire run of tapings.

Anthem has had to catch the company up and get it out of several legal issues since buying the company, including the Billy Corgan situation and a lawsuit brought against the company by its former production company, Virginia’s Audience of One Productions. The ownership came with Impact deeply in debt.

Along with that has been the public battle with the Hardys over the Broken Universe, the suspension of then-reigning GFW champion Alberto el Patron and yesterday’s issues with Jeff Jarrett.

Prior to Anthem acquiring the company, Sinclair Broadcasting, WWE, and Billy Corgan all had interest in the company. The site adds that Jarrett still owns the name of “Global Force Wrestling”, so Anthem would be selling “Impact Wrestling”.