Can someone give me a tl:dr backstory on what is going on?
-TNA has been a terrible, poorly run company since 2002, and it got worse when Panda Energy bought them in 2004, and installed the daughter of the owner, Dixie Carter, as the head of the company.
-TNA gets a deal on Spike TV in 2005 when Spike looses WWE. It manages to get a consistant 1.1 raiting, no matter what they show
-In 2010, they decided to go all in, and sign Hulk Hogan, Ric Flair, Rob Van Dam, and Jeff Hardy (who just months prior was main eventing WWE shows), and move their show to Monday Nights, directly competing with WWE Raw. This is a spectacular disaster, and couple months later, the company is moved back to Thursday nights, and raitings fail to improve
-In late 2013, Spike tells TNA they will not renew their contract once it comes up in Sept 2014.
-After months of negotiating, Destination America picks TNA up in September 2014. WHile they are moved to a Friday timeslot, they are given 2 extra shows on the network- one featuring classic matches, and a studio style show
-Within 2 months, both of the extra shows are canceled
-Last Week, Dave Meltzer reports that Destination America will not renew the contract, with TNA being canceled in Sept 2015. Dixie Carter goes crazy, saying that it is not true, and threatening to sue Dave Meltzer for slander
-Today, Destination America announces a deal with Ring of Honor, an independent promotion that draws more fans per show than TNA does.