LOS ANGELES (Sept. 13, 2007) – ProElite, Inc. [PELE.PK], a sports entertainment and media company dedicated to producing world-class mixed martial arts (MMA) events, today announced the acquisition of King of the Cage, Inc. (KOTC), a prolific MMA promoter with an established stable of world-class fighters and global brand equity. As part of the agreement, KOTC will promote events in conjunction with Los Angeles-based ProElite’s respected and highly acclaimed live events division, EliteXC, which broadcasts MMA events on Showtime Networks. KOTC will also provide live-streaming video content through ProElite.com. http://fightbeat.com/news_details.php?NW=20282
ProElite has not yet made any profit whatsoever. Maybe not for a few years. I wonder if Gary Shaw will pack it in when he realizes that MMA is not on the rise, only the UFC is.