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Did CBS increase its investment in ProElite?

I can’t tell you whether the television deal between CBS and EliteXC that MMAjunkie.com broke today is a done deal or not.

What I can tell you is that it appears CBS recently increased its ownership stake in ProElite, according to SEC filing information on ProElite’s corporate web site.

CLICK HERE to see the online document.

It’s all public record. The filing was made on February 25, 2008. The description of the document reads: “Statement of changes in beneficial ownership of securities.”

I think the term “beneficial ownership” could be an understatement.

Unless I am reading the documents incorrectly, it looks like ProElite just received a major infusion of additional funding.

If a deal between CBS and EliteXC is real, it looks like the partners could be attached to the hip and that EliteXC will enter the deal with additional ammunition.

3 COMMENTS
  • Captain says:

    That looks like a $4 million dollar investment.

    The description is generic. Form 4 is used whenever certain persons (large shareholders, officers, etc.) make changes in their beneficial ownership. Beneficial ownership being the ability to control the voting of the stock. Here CBS Corp does not actually own the stock but it is the beneficial owner since it owns and controls CBS Corp, which owns CBS Operations, which owns Showtime Networks, which owns the ProElite stock. The form even traces it all the way back to Summer Redstone.

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  • Paul Hanna says:

    Well this looks almost like its a done deal. CBS looks like they put a lot of money into EXC…

    I LOVE the thought of seeing LIVE MMA on network T.V.

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  • ctownhood says:

    Hopefully this will attract some better talent to the organization….spread the wealth a little. they have a few quality and marketable fighters, they just need more depth.

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