The following is an excerpt from an incredible Josh Gross article on Sherdog.com, featuring quotes from EliteXC promoter Gary Shaw:
Pro Elite, promoter of EliteXC-branded mixed martial arts events broadcast via Showtime television, is negotiating to purchase ICON Sport and King of the Cage, two of mixed martial arts longest-running and successful North American organizations, Sherdog.com has learned.
“I have no comment at all,” EliteXC's Gary Shaw said of the rumored deals, which if consummated would also provide Pro Elite with two of the deepest video libraries in the sport. Shaw's silence was officially mirrored by ICON and KOTC, however sources on all sides of the deal indicated that things were heating up.
That's just the beginning. There's a ton of information in the full article on Sherdog, which you can read by clicking here.