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[maxp84z]

Showtime Networks filed public notice with the U.S. Securities and Exchange Commission Thursday announcing its intention to enter preliminary negotiations for the purchase of Pro Elite Inc.

Showtime, a subsidiary of the parent conglomerate CBS Corporation, already enjoys broadcasting deals with the Los Angeles-based company on both its premium cable channel and CBS. Showtime also has a 20% ownership stake in Pro Elite.

The potential acquisition could not come at a more opportune time for the fledging company, as Pro Elite faces a $55 million deficit accrued during its two years of operation.

Founded in 2006, Pro Elite promoted its first EliteXC event in February 2007. Under its EliteXC and ShoXC brands, it has fired off 15 events to date.

Over the last 24 months, Pro Elite has also acquired the King of the Cage, Icon Sport, Rumble on the Rock, and Cage Rage brands, and promoted numerous events under those names.

Chris Deblasio, Director for Sports Communication at Showtime, had no comment on the potential sale.

Pro Elite reps also refrained from comment.

The third edition of EliteXC’s “Saturday Night Fights” will broadcast on Oct. 4 on CBS, featuring monster attractions Kevin "Kimbo Slice" Ferguson and Gina Carano.

Thursday, September 18, 2008
by Loretta Hunt (lhunt@sherdog.com)




We all knew they were in trouble. This could turn out for the best

[Diegonightmare]

To me this certainly indicates they intend to keep ProElite alive as a going concern, which means injecting cash into it.

This positions the resulting company (Showtime ProElite or whatever it'll be called) as the only major stateside competitor to Zuffa, and now with deeper pockets than previously.

It indicates, to me, a willingness on their part to keep ProElite and its various orgs in the game and competitive with the UFC.

This, as opposed to what I thought was the likely eventual fate of EliteXC - being swallowed by Zuffa.

[maxp84z]

Originally Posted by Diegonightmare

To me this certainly indicates they intend to keep ProElite alive as a going concern, which means injecting cash into it.

This positions the resulting company (Showtime ProElite or whatever it'll be called) as the only major stateside competitor to Zuffa, and now with deeper pockets than previously.

It indicates, to me, a willingness on their part to keep ProElite and its various orgs in the game and competitive with the UFC.

This, as opposed to what I thought was the likely eventual fate of EliteXC - being swallowed by Zuffa.

Yep, thats why i said its going to work out for the best. IF showtime gets EXC thats huge... thats both EXC and strikeforce. If anything, IF Afflictions deal with Golden boy turns out to be a good move, we may see AFFLICTION on HBO. I also think an org like DREAM is definately going to want to piggy back with one of these orgs to stay afloat. Imagine EXC, Strikeforce, Affliction and DREAM all working together???

That would be HUGE. With programming both on CBS, SHOWTIME and HBO.... idk how the UFC could compete with that Juggernaut. It would be a strategic move by the following orgs. They could all promote each other. It would also be smart for them to host a show on showtime/hbo/cbs while the UFC is having a PPV.. kinda like how the UFC tried sticking it to Affliction with their little free show on SPIKE.