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Showtime In Talks To Purchase ProElite

EliteXC LogoShowtime, 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.

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