Billy Corgan Reportedly Loses Legal Battle With TNA Wrestling

(Classic Rock) Smashing Pumpkins' mastermind Billy Corgan has reportedly lost his legal battle to take over TNA Wrestling - the company which named him president in August.

He's been working with the wrestling firm since last year, first as a creative producer, and replaced Carter as president in the summer. Corgan gave the cash-strapped company three loans over the past few months - with the last payment reportedly given on the condition that he'd be permitted to take over the firm if it became "insolvent."

His lawsuit argued that this was what happened - but the judge rejected the claims because they "did not meet burden of proof." The judge did, however, order that Corgan's loans be repaid this week. Read more here.

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