Impact Wrestling announced today that it has terminated its business relationship with Jeff Jarrett and Global Force Entertainment Inc., effective immediately.
— IMPACT (@IMPACTWRESTLING) October 23, 2017

In a tweet that is just now going around, Impact Wrestling has announced that it has terminated its business relationship with Jeff Jarrett and Global Force Entertainment Inc., meaning that Jeff has been terminated from the company he created along with the other company he created at the same time.
This comes after months of rumors and hearsay about Impact’s parent company Anthem Sports and Entertainment. Anthem had stepped in and took control of Impact when previous owner Dixie Carter and her team ran into legal problems with Billy Corgan and his team. Corgan contended that Impact was deep in debt and “insolvent” with Anthem stepping in and paying some of their bills and taking over the company, keeping Carter as a minority owner. More recently there had been rumors that Anthem was looking to get out of the wrestling business since Impact/TNA/GFW or whatever name they are using as the crow flies was very costly to keep running.
Jarrett had been brought back by Anthem and made “Chief Creative Officer” by the company, meaning he was head booker. However there has been rumors that Anthem were not pleased with his “erratic behavior”, specifically his apparent impaired performance that the Mexican AAA Triplemania event specifically where he appeared during a big legends rumble match during the show, tossed out taco shells to the audience, and meandered around ringside yelling at people long after he had been eliminated.
Without its founder, lead booker, and the one who owns the copyright to the Global Force Wrestling names, it will be interesting to see where the company goes from here.