Felix Venta
.::XHF Newcomer::.
Current GXW World Champion
Posts: 31
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Post by Felix Venta on Oct 5, 2017 22:33:37 GMT -5
News provided by Gen-X Wrestling Media 11:33PM EST
PITTSBURGH, Pennsylvania Oct. 5, 2017 /XHF Network/ -- For a couple of months, Gen-X Wrestling was on thin ice, with months of inactivity and low morale damaging the reputation of the brand. Analysts were predicting a Chapter 11 bankruptcy from the Pittsburgh based wrestling federation to be filed this week. Today, in what could be considered a saving grace for GXW, a new owner has publicly announced to purchase Gen-X Wrestling. Dennis Young, a venture capitalist from Youngstown, Ohio, is usually known to invest in biotechnology startups. The acquisition value has not been disclosed with Gen-X Wrestling Media, but is expected to be around $70-90,000 dollars. Journalists have caught up to Young to ask why he had decided to purchase Gen-X Wrestling.
"I see this as a win-win situation for the fans and I. The fans get to see a highly talented roster of wrestlers you can only see in this company. Meanwhile, this is a dream for me to own my very own wrestling company; I have always wanted to own a wrestling federation since I was a young boy." said Young on Thursday,
Rumor has surfaced within wrestling forums that the new owner has plans to rebrand GXW, going as far as changing the company name.
"I have been looking to change the name of GXW as one of the first things I want to do here. Gen-Y Wrestling was one of my considerations, as this is going to be a whole new generation of wrestling. Another possible option is Steel City Federation, and possibly have our wrestling exclusively in the 'Burgh. I am not making any final options today, but it's going to take a lot of time to consider."
We, here, at Gen-X Wrestling fully support and endorse the purchase.
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