In an update on reports attributed to The Wrestling Observer Newsletter that Destination America were ready to “drop the axe” on IMPACT Wrestling shortly, the company issued the following statement this afternoon to PWInsider.com regarding the report that IMPACT Wrestling was cancelled.

Statement from TNA Regarding IMPACT WRESTLING

It has come to our attention that several internet news sources have falsely attributed statements to TNA, its executives and broadcasting partner. These false statements constitute defamation and if necessary we will seek all legal remedies available to us.