More than 15 months since the company that housed fight promotions EliteXC and ShoXC closed its doors, the live entertainment company Stratus Media Group, Inc. has assumed control of its operations and plans to relaunch the brand, according to a press release issued today.
ProElite, Inc. held 21 MMA events before it collapsed in October 2008 under the weight of a $55 million debt accrued in 20 months of operations.
Stratus CEO Paul Feller said his company has a plan to revitalize the troubled brand and promote events in the near future, though details on the venture are scant.
"We believe that by combining select key experienced management executives, who made ProElite the immediate success it was, with new top executives with demonstrated successes in conducting and televising MMA events internationally and sufficient capital, that we will achieve the brand's strategy for global growth and success," Feller stated in today's release.
"With this combination, we can start focusing on strengthening and repositioning ProElite events and the brand, planning a series of MMA events that we believe will bring excitement to the MMA market, fans and our shareholders and establish ProElite as a leading international MMA company."