Showtime, a subscription television brand owned by CBS, has entered talks to purchase ProElite Inc., the parent company of mixed martial arts promotion EliteXC, according to Sherdog:
Showtime Networks filed public notice with the U.S. Securities and Exchange Commission Thursday announcing its intention to enter preliminary negotiations for the purchase of Pro Elite Inc.
Showtime, a subsidiary of the parent conglomerate CBS Corporation, already enjoys broadcasting deals with the Los Angeles-based company on both its premium cable channel and CBS. Showtime also has a 20% ownership stake in Pro Elite.
The news of a potential sale surfaces just weeks before EliteXC’s October 4th event on CBS, “Heat”, which features EliteXC stars Kimbo Slice and Gina Carano, an event that could determine the promotion’s future.