LOS ANGELES, Feb. 1, 2007 (PRIME NEWSWIRE) -- Showtime Networks Inc., the premium television network unit of CBS Corporation, today said it has made an investment in ProElite, Inc. (Pink Sheets:PELE). The announcement was made jointly today by Matthew C. Blank, chairman and chief executive officer of Showtime Networks, and David Marshall, chairman of ProElite.
The investment was made in association with a previously announced exclusive programming agreement between ProElite and Showtime Networks, and the introduction of ProElite's newly formed Elite Xtreme Combat (EliteXC) organization. EliteXC will enhance the fast-growing popularity of mixed martial arts (MMA) by staging world-class live events on SHOWTIME, the first premium television network to deliver the sport.
The highly anticipated debut event will air live on February 10, 2007 (10:00 p.m. EST/PST) on SHOWTIME from the DeSoto Civic Center in Southaven, Mississippi -- featuring a dream match-up of MMA legends Frank Shamrock and Renzo Gracie in the main event. In addition, SHOWTIME will televise four undercard matches -- including world-class fighters Antonio Silva, David Loiseau and Joey Villasenor. And in a groundbreaking move, additional undercard fights will be streamed live on the Internet beginning at 7:00 p.m. (ET) at ProElite.com -- a growing destination for the MMA community.
"We are honored to have a distribution partnership with Showtime and now the support of CBS," said David Marshall, chairman of ProElite, Inc. "Showtime has consistently proven its leadership in developing and televising live sports. Together we are on the verge of launching the sport of mixed martial arts into mainstream America."
"As evidenced by the tremendous success of our boxing franchises, Showtime is the innovator in sports programming on premium television," said Matthew C. Blank, chairman and chief executive officer of Showtime Networks. "We will continue that innovation by being the first premium network to televise world-class mixed martial arts competitions."
"MMA's fan base is growing rapidly and attracting a very highly sought after demographic," said Joseph Ianniello, senior vice president, finance and chief development officer for CBS Corporation. "CBS's investment in ProElite demonstrates our belief that mixed martial arts is a sport which will continue to increase its audience and, at the same time, is consistent with the Company's strategy of investing in properties that complement our programming and core operations."
For more than 20 years, SHOWTIME has been at the forefront of televising live events. The highly successful Showtime Championship Boxing series has been the home of champions, legends, and unforgettable moments since its debut event in 1986. SHOWTIME continues to be a pioneer in sports television with a number of interactive features across multiple platforms making Showtime Championship Boxing the most enjoyable, immersive viewing experience for the boxing audience.
The executive producer of the EliteXC telecasts of SHOWTIME is David Dinkins, Jr., with eight-time Emmy Award-winner John Faratzis directing. World wrestling icon Bill Goldberg will serve as a color analyst along with well-known actor and sports fan Mario Lopez serving as roving reporter. Additional members of the telecast team will be announced in the coming weeks.
About ProElite, Inc.
ProElite, Inc. is an entertainment and media company dedicated to producing world-class sporting events and empowering the participation of athletes and enthusiasts. ProElite, Inc. fosters the growth of the core principles of competition - Pride, Spirit, Honor and Sportsmanship. ProElite, Inc. owns the following brands and companies: EliteXC(tm) (mixed martial arts live event production), ProElite.com (online community that provides content and tools for martial arts enthusiasts), and LifeLogger (top-rated internet blogging site and mobile application developer).
About Showtime Networks Inc.
Showtime Networks Inc. (SNI), a wholly-owned subsidiary of CBS Corporation, owns and operates the premium television networks SHOWTIME(r), THE MOVIE CHANNEL(tm) and FLIX(r), as well as the multiplex channels SHOWTIME(r) TOO(tm), SHOWTIME(r) SHOWCASE, SHOWTIME EXTREME(r), SHOWTIME BEYOND(r), SHOWTIME NEXT(r), SHOWTIME WOMEN(r), SHOWTIME FAMILYZONE(r) and TMC XTRA. SNI also offers SHOWTIME HD(r), THE MOVIE CHANNEL HD(tm), SHOWTIME ON DEMAND(tm) and THE MOVIE CHANNEL ON DEMAND(tm). All SNI feeds provide enhanced sound using Dolby Digital 5.1. SNI is also an owner and manager of SUNDANCE CHANNEL, a venture of NBC Universal, Robert Redford and SNI. SNI also manages Smithsonian Networks, a joint venture between SNI and the Smithsonian Institution. SNI markets and distributes sports and entertainment events for exhibition to subscribers on a pay-per-view basis through SHOWTIME(r) PPV.