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[ Fight Network gets funding for U.K. move ]
April 02, 2008 | By Canadian Press

The Fight Network has completed a private placement of equity to a heavyweight Canadian investor group including Martin Goldfarb, Slaight Communications Inc. and Judson Martin.

The all-combat TV network’s parent company, TFN Global Inc., also announced today it has finalized the takeover of British-based Wrestling Channel Ltd.

“The combined impact of these developments propels us into the major leagues of sports broadcasting,” said George Burger, president and CEO of TFN Global Inc.

“We’ve raised the funds required to plant our flag in the U.K. as well as to meet our working capital requirements, further entrenching us in the epicentre of the booming sports of mixed martial arts and boxing, and making the Fight Network a truly international brand.”

Burger noted that the financing, arranged by investment bank Capital Canada Ltd., was completed “in the face of turbulent conditions in the capital markets.”

The terms of the capital injection were not disclosed, but TFN “anticipates further funding requirements as it rolls out its international specialty fight channel.”

Martin Goldfarb is a prominent market researcher as head of Goldfarb Intelligence Marketing; Judson Martin was chief financial officer of Alliance Atlantis Communications from 1999 until 2005; Slaight Communications, headed by Gary Slaight, was the largest privately owned multimedia company in Canada until it sold its Standard Radio broadcasting assets last year to Astral Media.

Robert Foster, head of Capital Canada, also participated in the TFN financing.

The Toronto-headquartered Fight Network, launched in 2005 and acquired last September by privately held Mayhem Media Corp., describes itself as “the global leader in presenting and covering all combat sports, including mixed martial arts, boxing, wrestling and kick boxing.”

Originally published in Marketing Magazine, April 2008