That has been floating around for a while. Especially since his "ebaums world" clip show has basically been canned. He has been working on that for a while, and probably is a pretty big setback to see it get trashed pretty easily after a long setup time.
As for the person who said that TNA's shows are pretty good, I'd have to disagree. Look, the premise under TNA is smart with the Xdivision. They might have the better wrestlers (other than say, Benoit or a few of the other good workers buried in WWE), but the problem is they have nothing to go on. AJ Styles is a good talent, but the guy has zippy main stream exposure. The people who know him are Wrestling Marks and Internet Fans. Or people who have been watching WCW or ECW or the old shows religiously. This primetime show will help to give some new wrestlers they want to push more exposure and hope to make them a better draw, but I find it funny they're only getting put on Thursday. They can beat Smackdown, because Smackdown is basically TNA minus a wrestler or two who can work the mic. However, TNA's shows they put on are boring. As long as Jarrett is highly involved at the top, they will continue to be so. Not only is he not a good wrestler, he won't give up the top status easily... It's almost a gurantee whenever Angle comes in, he fights Jarrett for 2-3 months at least.
Who wants to see that garbage? Angle will only make it so entertaining himself. I enjoy watching Angle, but he can only carry so much midcard talent to the next level.
Oh, and for the conspiracy theories, they probably aren't true. TNA is smarter than that. If Vince wanted to shut them down, he would just buy out their indy stars and other contracts. It would cost him money, but it'd be feasible.