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CBS and ProElite Join Forces to Bring Mixed Martial Arts to Primetime Broadcast Television One of the Fastest-Growing Spectator Sports Comes to CBS with Four Live, Two-Hour Events Per Year
and media company that produces world class mixed martial arts (MMA) events, today jointly announced a multi-year agreement that will bring one of the fastest growing spectator sports to a major broadcast television network for the first time.
CBS will broadcast four MMA events per year, produced by ProElite's EliteXC fight division, as two-hour live primetime specials targeted for Saturday nights.
The agreement augments an existing relationship between CBS Corporation (NYSE:CBS) (NYSE:CBS.A) and ProElite (Pink Sheets:PELE), which began broadcasting its EliteXC live MMA events on CBS's SHOWTIME premium cable network in 2007. EliteXC events will continue to air on SHOWTIME.
Additionally, CBS Interactive and ProElite's new media division, ProElite.com, will collaborate on generating interactive content for both companies' platforms, including CBSSports.com. The online offerings could include streaming of events, clips syndicated across the CBS Audience Network, and other enhanced content to build an online community around each CBS broadcast and ProElite event.
"Mixed martial arts is one of the fastest growing sports in the country and a wildly popular entertainment vehicle for upscale, young adult audiences," said Kelly Kahl, Senior Executive Vice President, CBS Primetime. "It's original programming for Saturday night; it's live, creating an event-atmosphere; and it's something that hasn't been seen on network television, until now."
"This is a pivotal moment for the sport of mixed martial arts now that a major television network plans to broadcast live MMA events during primetime hours," said Douglas DeLuca, Chief Executive Officer of ProElite. "We are delighted to enhance our partnership with CBS to bring American audiences the very best in MMA competition through our EliteXC brand.
"The network television agreement with CBS is an important milestone for ProElite as we continue to implement our growth strategy and develop existing relationships with our international partners."
"Our world-class fighters and the high production value of our events continue to drive ProElite as a global MMA organization that is fortified by the bedrock foundation of a partnership with CBS," said Gary Shaw, President of EliteXC. "Broadcasting our events on CBS will instantly engage a new fan base, as well as provide an opportunity for EliteXC to further establish itself as the world's premier MMA organization."
The intense nature of the contests and the theatrical elements of its live events have made mixed martial arts one of the fastest growing spectator sports in the United States. Over the last several years, the genre has seen tremendous growth in popularity, especially among the coveted 18-34 demographic.
Mixed martial arts is a sport evolved from a number of ancient combat disciplines including judo, jiu-jitsu, karate, wrestling and kickboxing. World-class athletes engage in hand-to-hand combat in a ring--both caged and traditional--and must adapt their fighting style to fit their opponent. The wide variety of styles and techniques make every event an unpredictable spectacle.
About ProElite (www.proeliteinc.com) ProElite, Inc. delivers the most exciting entertainment experience in the world of mixed martial arts (MMA) with live arena-based entertainment events, cable television programming on Showtime Networks and community-driven interactive broadband entertainment via the Internet. The company has established itself as a global leader by acquiring MMA organizations in Asia and Europe, and partnering with broadcasters such as British Sky Broadcasting and CJ Media in Korea. The company has an exclusive distribution agreement for its program library with IMG Media. ProElite embraces MMA with the highest levels of honor, integrity, discipline and self-esteem, all the while remaining inclusive for fighters, fans and schools (elitexc.com). ProElite's live fight division, EliteXC, delivers spectacular live MMA fight events that showcase the world's top fighters. Complementing ProElite's live events division is the company's social media platform, ProElite.com. Since the beginning of 2007, ProElite.com continues to add thousands of subscribers each month due to the large number of live streaming MMA events, social networking tools, and original and partner-driven content. ProElite.com also recently launched the largest online martial arts school locator as a way for martial arts practitioners to find the best locations to train, and for schools and dojos to help market themselves. ProElite.com - Empowering the Fight Community (TM).
About CBS Corporation CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW - a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.
Certain statements included in this press release constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements, including, but not limited to, broadcasting four MMA events in one year, as well as others discussed in the company's filings with the Securities and Exchange Commission, involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. ProElite, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities. At the time of their issuance, the shares of common stock and the underlying shares of common stock issuable upon exercise of the warrants are restricted securities, within the meaning of federal securities laws, that have not been registered under the Securities Act, or any applicable state securities laws and may not be offered or sold in the United States, absent registration or
an applicable exemption from
such registration requirements.
- From PondelWilkinson, Inc. with a little editing from us (color, etc...)
(2/28/08) |
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