Seriously now - no hate, hyperbole, or anything else.
Why would any investor invest in this company?
Pretend it wasn't wrestling for a second so you can see this clearly.
This company makes NO profit. This company loses money. This company keeps getting their TV show on worse and worse networks. This company is in a line of business practically dominated by a much more successful and popular company. This company has neither a competetive advantage nor an economic moat. This company, in theory, would make some money from ticket sales to live events but they barely do any paid live events at all. This company, in theory, would make some money for TV rights fees but they get NO MONEY from their TV deal.
This company has been so poorly managed and their "brand" is so shytty. Their brand is words like Southern, WWE-lite, WWE rejects, and failure. If a brand is a promise, they have the promise of instability and constant L's. The names "TNA" and "Impact Wrestling" are a hindrance. Even if you gifted the company to someone they would have to change the name because TNA has such a negative taste in people's mouths. NEGATIVE NAME BRAND VALUE
This company fills no need in the marketplace. Kids and the "summer blockbuster movie" crowd have WWE. Super smarks have ROH and NXT. People who like fighting but not fake shyt have UFC. TNA fills no needs and solves no problems. And they make NO MONEY. Who would invest?
You invest in something when it's either 1) a great idea that needs money to get going, or 2) it's something that's already working and an injection of money would accelerate things and allow them to do things on a larger scale. Competing with WWE toe-to-toe is now and has been and will continue to be a bad idea. And what they've been doing clearly hasn't been working because any way you can quantifiably measure it, this company is a failure. Who would invest god dammit?