WWE Chairman Vince McMahon speaks during the announcement of the WWE Network. (Photo : GettyImages/Ethan Miller)
The World Wrestling Entertainment is the biggest wrestling company in the world but it may grow even bigger. According to the latest rumors, WWE chairman Vince McMahon is buying TNA Wrestling from its owners, Dixie Carter and Billy Corgan.
The 71-year-old billionaire took over his father's company in the 1980s before signing major wrestling stars from several rival independent regional promotions. He managed to make the WWE the biggest wrestling company in the world in 2001 when he bought out World Championship Wrestling from Turner Broadcasting System.
Apparently, McMahon also wants to buy a new wrestling promotion that is based in Nashville, Tennessee. According to Richard Morgan of the New Post, the WWE has made a bid to buy TNA Wrestling from owners Carter and Corgan.
TNA has been rumored to be for sale with Corgan taking over Carter as the majority owner. The Smashing Pumpkins frontman reportedly paid an estimated $40 million to become the wrestling company's majority owner.
The Nashville-based wrestling promotion is considered as the third-biggest wrestling company in the world behind the WWE and New Japan Pro Wrestling. It was a success during its first years until former WWE employees like Hulk Hogan, Vince Russo and Eric Bischoff almost killed the promotion.
Nevertheless, it has gotten back up in the past couple of years but the sale rumors just won't die. It should also be noted that Sinclair Broadcasting Company, owners of Ring of Honor Wrestling, also put in a bid to buy TNA.
According to All Wrestling News, the WWE is not interested in keeping TNA and it will be shut down if they eventually buy them out. The company only wants to buy their competition's tape library. The report mentioned that an hour of taped television is worth $500.
The WWE will reportedly have to pay $7 million for TNA's tape library, plus their estimated value. Nevertheless, it can easily be bought by McMahon, who has been hiring former TNA stars and thriving in the WWE.
Current WWE World Champion A.J. Styles made his name in TNA and is considered as one of the greatest TNA stars ever. Other former TNA talents in the WWE include Samoa Joe, Bobby Roode, Austin Aries and Xavier Woods.
These are still rumors at the moment and nothing has been confirmed. Check out the video below to watch TNA Wrestling's greatest moments.
