Ric Flair made the announcement on the July 29th edition of TNA Impact that AJ Styles' current Global Championship would now become the TNA TV Champion (meaning, it only can be defended on TV).
The origins of the Global Championship was Booker T buying his own championship belt, the TNA Legend's Championship (TNA's million dollar knockoff) that he subsequently lost to AJ Styles. Eventually, it ended up in the hands of Eric Young, who changed the name to the Global Championship to match his faction.
The Global Championship was viewed as a "toy belt" by many viewers—no prestige or value associated with it whatsoever. Title holders seemed to be random and did nothing to help it's place in TNA.
It's amazing how a change in name can change everything. With this TV title now in place it adds a nice mid-card championship to the show. TNA now has heavyweight, mid card, cruiser weight, and tag team championships. This now gives talent between X-division and heavyweight championship a worthy pursuit (ex-Matt Morgan, Mr.Anderson, Desmond Wolfe, AJ Styles, Kaz, Jay Lethal, Samoa Joe, and so on.)
Maybe now that the problem of the Global Championship has been fixed, can someone fix the booking that's making Matt Morgan and Desmond Wolfe jobbers?