Stratus Media Group, Inc. has announced that it has reached an agreement to acquire a 95% stake in ProElite, Inc. for $2 million. Stratus Media Group, Inc. (OTCBB: SMDI ), a live entertainment company, announced today that it has entered into an agreement to acquire a 95% interest in ProElite, Inc. (PK: PELE), a sports, entertainment and […]
financial
UFC May Sell Ownership Stake
Dana White recently sat down with Bloomberg TV to discuss the financial progress of the UFC over the last few years. Some interesting things came out the interview: The Fertittas and White (holding 90% and 10% of Zuffa, respecitvely) are open to selling a 10-15% silent stake in the company. White estimates that anywhere between 35-45% of the UFC […]
S&P Report on Zuffa – Analysis
Today, Standard & Poor’s released its latest credit report on Zuffa LLC that documented the corporation’s latest financing initiatives. Below is a summary of the report’s action: Zuffa requested an additional $100 million in incremental term loans to help pay off part of the existing revolving credit line and fund a dividend to the owners […]
Highlights from the Latest S&P Report on Zuffa
In depth analysis to follow, but the highlights from the latest report: COMPANY REMAINS EVENT DRIVEN – Revenue breakdown remains at 75/25 event (pay-per-view, gate) to non-event (television rights fees, sponsorships, etc), but the successful launch of the video game as well as recent improvement in the sponsorship portfolio has the potential to improve that […]
Zuffa Announces New $100M Term Loan
Las Vegas-based mixed martial arts sporting event promoter and producer Zuffa LLC announced a proposed $100 million incremental term loan due 2015. We are assigning our ‘BB-‘ issue rating and ‘4’ recovery rating to this loan, and revising our recovery rating on Zuffa’s existing credit facilities to ‘4’ from ‘3’. We are affirming the ‘BB-‘ […]