ProElite, Inc. (fka PELE)

[michelebucks]

The Incarnation of ProElite From Wikipedia
en.wikipedia.org/wiki/ProElite

ProElite, Inc. Type Public (Pink Sheets: PELE)
Industry Sports promotion
Founded 2006
Headquarters Los Angeles, California, United States

Subsidiaries EliteXC, Cage Rage, Spirit MC, Icon Sport, King of the Cage

Website http://www.proelite.com/

ProElite, Inc. (Pink Sheets: PELE) is an entertainment and media company involved in the promotion of mixed martial arts (MMA).

History

First incarnation
Founded in 2006 in partnership with Showtime Networks Inc. (a CBS Corporation subsidiary), the firm initially promoted live MMA events broadcast on Showtime and Showtime PPV under the EliteXC promotional banner.

CBS contracted with ProElite to show live events on prime time network television with the first airing scheduled for May 31, 2008.

A focal point of ProElite's live event promotions was Elite XC. Running its first show in 2007, it quickly became one of the most visible brands in mixed martial arts in the United States. ProElite also acquired several long-standing mixed martial arts promotions since its founding, including King of the Cage, Hawaii-based Icon Sport, and British promotion Cage Rage. The company also had working relationships with Rumble on the Rock, Japanese-based DREAM, South Korean-based Spirit MC, and Northern California-based Strikeforce.

ProElite also operated ProElite.com, a web portal with social networking for MMA fighters and fans and live streams of MMA bouts not broadcast on Showtime.

ProElite still holds the record for highest ratings for a major network telecast of a MMA event.

Second incarnation
In March 2011 ProElite was rumored to be the unsuccessful second bidder against the UFC in an attempt to acquire rival MMA promotion Strikeforce. The offer was said to exceed 40 million dollars. Principals at ProElite immediately confirmed the companies intention to re enter the MMA live event promotional business as they had with the record breaking Kimbo Slice events on CBS.

Rumors immediately began circulating that ProElite was targeted as a strategic acquisition by either the UFC or an unidentified third party investor wishing to enter the MMA promotional space. PELE.PK stock jumped from .01 per share to more than .20 per share in two days as investors realized the stock routinely traded at $15 per share while ProElite was promoting live events.

In June 2011, Stratus Media Group secured a 95% ownership of ProElite.[6] The group confirmed their intention to return to promoting mixed martial arts with former ICON owner T. Jay Thompson and former Strikeforce matchmaker Rich Chou brought on board to run the show. The company's return show will take place on August 27, 2011 in Hawaii.

List of EventsEvent Date Location Venue Attendance Broadcast
ProElite 1 02011-08-27 August 27, 2011 Honolulu, Hawaii Neal S. Blaisdell Center

$3 plus a share by fite nite August 27th!

Nothing but positive PR's will be coming fast and furious once the DTC shuffles the paperwork on the release of the lock.