TNA News EXCLUSIVE NEWS: Was TNA ever close to going out of business?, TNA pres Dixie Carter details close-calls & why investors pushed forward
Mar 10, 2013 - 2:20:46 PM
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By PWTorch Staff
During an exclusive interview on the PWTorch Livecast last week, TNA president Dixie Carter detailed times during the mid-2000s when she had to fight to keep TNA going when other family members raised concerns about the viability of the Carters's investment.
"You should have been at some New Year's Eve or Christmas Eve dinners," Carter told PWTorch editor Wade Keller. "It usually happens around the dinner table - 'You know, I'm just not real sure about this.' And we would get into board-room blows right there."
Carter said she credits her parents, who head up TNA's parent company, Panda Energy, for seeing TNA through difficult times.
"I have to give it to them that they stuck with it," she said. "It wasn't the quick returns maybe they had been sold on or hoped for. But, they have been fantastic partners in sticking with it. They see the potential. They have ten years invested in this company that they have great hopes for."
Carter added that perhaps Panda Energy's approach to their line of business paid off in keeping TNA afloat.
"They're in long-term businesses, so they don't see quick turnarounds," Carter said. "They're used to building something or coming up with something and it be seven, eight, ten years down the road (when it pays off). So, they've been patient. But, they do absolutely know that we are in a fantastic place right now and they're very happy."
Asked if TNA has been profitable the last few years, Carter replied, "Yep, we sure have. She added, "It doesn't mean that we're a debt-free company, but as far as being profitability - you know, the early years were incredibly expensive. But, to have turned it around and had the type of growth that we've had, especially during the recession... We filled the gap and continued to grow and have success and have great year-over-year growth."
The next financial step, according to Carter, is finishing or re-structuring the last of TNA's bad contracts from the early days of the company. Carter said she believes this will help TNA push forward rather than continue to be held back by contracts - such as their domestic and international PPV contracts - the company feels has limited their growth potential.
[ LISTEN: Carter's entire 83-minute Livecast Interview can be heard exclusively here at PWTorchLivecast.com ]
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