Stratus Media Group Secures 95% Ownership of ProElite
June 21, 2011
Stratus Media Group, which is a live entertainment company, announced today that it has finalized its acquisition of ProElite, assuming a ninety-five percent stake in the MMA promotion.
“This acquisition provides the resources and abilities ProElite needs in order to focus on strengthening and repositioning its world class MMA fighting platform in addition to the brand itself”
“This acquisition provides the resources and abilities ProElite needs in order to focus on strengthening and repositioning its world class MMA fighting platform in addition to the brand itself,” stated Paul Feller, President and CEO of Stratus. “Under the new SMDI Action Sports Vertical, ProElite is launching a series of MMA events that will bring a new vitality to the business of MMA and reestablish ProElite as a leading international MMA organization.”
Founded in 2006, and running its first show in February 2007, ProElite quickly became one of the most visible brands in mixed martial arts globally. ProElite holds the record for highest ratings of an MMA event on a network telecast. The company maintains its ownership stakes in South Korean-based Spirit MC and British based Cage Rage. ProElite’s event strategy will continue its focus in both domestic and international markets, welcoming fighters across all weight classes to prove themselves in the cage. Details of ProElite’s upcoming events schedule, fight card, and management team will soon be announced.
Last we heard of ProElite, they were brought up as a potential (though not serious) bidder in acquiring Strikeforce. They also benefited from the Zuffa/Strikeforce purchase by being basically the only group left with relevant MMA footage that Zuffa does not yet own, for example some of Anderson Silva’s Cage Rage fights. They have had plans to start running MMA events again for about a year now, but nothing has materialized up to now.
It seems that ProElite could become another beneficiary after the Strikeforce/Zuffa purchase (see Bellator), as was predicted since the market is now luring investors to create viable options for MMA fans. In the latest rumor, MiddleEasy.com states that ProElite is preparing to jump back into the MMA market fairly soon, and possibly with a familiar MMA investor:
We will be talking to the new CEO of ProElite tomorrow, however it’s rumored that the primary investor of the now-defunct ‘Impact FC’ will financially team-up with ProElite and they have every intention to compete with the UFC once again.