Short version of the stock response: TNA isn't failing. They are performing under the expectations set for them a year and a half ago after a large scale investment. If my business could improve as much in eight years as much as TNA's has since its inception, I'd be jumping off the walls. (Mostly because then I wouldn't need to work another job to pay for health insurance. Single coverage ain't cheap!)
Nine years ago, NWA:TNA was putting on weekly pay per views in an effort to convince people that they could be a viable wrestling company. Wrestling companies start and go out of business all the time. People loved to talk about IWA-MS, and they lasted five years. If you want to see a CZW show, you should have seen it a few years ago, but you'd better go quick because I don't think you'll have many more opportunities. XPW, remembered not quite so fondly, lasted four years. In the meantime, NWA:TNA has built themselves up into an international promotion in that time, and while I'm very interested in knowing the specifics behind TNA/IW's declaration of profit (I suspect it involves loan deferments, as they spent a hefty chunk of money last year; to boot, profit is only meaningful if you are making enough profit to be comparable to other investments), I'm quite sure they aren't bleeding money.
I definitely think TNA/IW could be performing much, much better than they are, but they aren't failing by any stretch of the imagination.