HDNet Emerges as IFL Buyer
Loretta Hunt Sep 25, 2008
Mark Cuban’s HDNet channel has emerged as the frontrunner for all
of the remaining assets of the International Fight League, which
filed for bankruptcy Sept. 15.
Forms were filed Wednesday with the Securities and Exchange Commission requesting that the publicly owned IFL be given permission to sell its remaining assets to the network. The forms also requested that HDNet be given every consideration as a potential buyer as the IFL’s assets go to the auction block through Oct. 23.
HDNet has offered a buying price of $650,000 for all intellectual property, including the IFL’s film, video and image library; its five-roped competition ring and team trademarks; and proprietary rights, including its Web site. The proposed transaction also includes any remaining broadcast contracts the IFL acquired during its two-year tenure, which includes a deal with Fox Sports Network.
HDNet Fights broadcasts a multitude of MMA events, including Strikeforce, Affliction and Japan's Dream promotion. The company’s CEO, Andrew Simon, was not immediately available for comment.
The IFL promoted 23 events in 24 months and spotlighted notable fighters like Ben Rothwell, Chris Horodecki, Jay Hieron and Rory Markham. Many of the IFL’s brightest stars have recently signed deals with the UFC, WEC, EliteXC and Affliction Entertainment.
Forms were filed Wednesday with the Securities and Exchange Commission requesting that the publicly owned IFL be given permission to sell its remaining assets to the network. The forms also requested that HDNet be given every consideration as a potential buyer as the IFL’s assets go to the auction block through Oct. 23.
HDNet has offered a buying price of $650,000 for all intellectual property, including the IFL’s film, video and image library; its five-roped competition ring and team trademarks; and proprietary rights, including its Web site. The proposed transaction also includes any remaining broadcast contracts the IFL acquired during its two-year tenure, which includes a deal with Fox Sports Network.
HDNet Fights broadcasts a multitude of MMA events, including Strikeforce, Affliction and Japan's Dream promotion. The company’s CEO, Andrew Simon, was not immediately available for comment.
The IFL promoted 23 events in 24 months and spotlighted notable fighters like Ben Rothwell, Chris Horodecki, Jay Hieron and Rory Markham. Many of the IFL’s brightest stars have recently signed deals with the UFC, WEC, EliteXC and Affliction Entertainment.
