Showtime In Talks To Purchase Pro Elite

0

According to Sam Caplan at Fiveouncesofpain.com:

Showtime Networks signaled through a filing with the Securities and Exchange Commission on Thursday its intentions to commence formal negotiations towards an acquisition of ProElite, Inc.

ProElite is the parent company of EliteXC, King of the Cage, Cage Rage, and ICON Sport and has television deals with Showtime, CBS, and Fox Sports Net but has also absorbed losses of approximately $55 million since its inception in late 2006. Showtime is a subsidiary of CBS Corp. and owns an existing 20 percent stake in ProElite.

ProElite warned investors of financial instability in an SEC filing this past August, stating that the company did not have enough resources to function into next year without securing additional financing.

DISCUSS THIS NEWS IN THE MMANEWS.COM FORUMS >>




Want to advertise your site in this space? E-mail the website staff today!

LATEST NEWS

Beneil Dariush

Beneil Dariush Says he no Longer Thinks About Title Shot as Much as he...

Don't expect Beneil Dariush to have a title shot on his mind constantly. The ninth ranked Ultimate Fighting Championship (UFC) lightweight will do battle with...

“I’m a Rough Guy and I Like it When Fights Get Tough” – Rory...

Rory MacDonald is a fighter known for his ability to dish out punishment and take it in equal measure, and that is the way...
Fernando Gonzalez

Fernando Gonzalez: ‘I’m Pretty Sure Michael Page Knew he Lost Our Fight’

Fernando Gonzalez is convinced he should've been awarded the victory in his fight with Michael Page back in Nov. 2016. "The Menifee Maniac" fell short...
video

Conor McGregor Fighting Mayweather For Win, Not Money – Michael Conlan

Conor McGregor's drive in securing a bout against boxing master technician Mayweather Jr. comes from a desire to win, and not to earn, according...
video

“Wonderboy” Questions Mayweather vs McGregor, Says Boxing is “Going Nowhere”

Stephen "Wonderboy" Thompson claims that Floyd Mayweather Jr. vs Conor McGregor is an indication of desperate times for boxing. Thompson is currently putting the final...