Courtesy of RingsideNews.com:
The Great Muta and former WWE star Tajiri held a joint press conference in Japan on June 18th, announcing that regulars from Tajiri’s Wrestling New Classic promotion will be appearing for Muta’s Wrestle-1 promotion beginning next month.
Tajiri noted that he is only the producer of WNC, not the owner, and WNC could be closing down as a promotion. Tajiri, AKIRA, Jiro Kuroishi, Koji Toi, Yusuke Kodama and Lion Fujiwara will begin working with Wrestle-1 at their July 1st event.
This would be the second time that Tajiri has ran a promotion that folded. WNC has lasted about two-and-a-half years and Smash lasted around two years.
Source: Wrestling Observer Newsletter