SANTA BARBARA, Calif.--(BUSINESS WIRE)--Stratus Media Group, Inc. (OTCBB:SMDI - News), a live entertainment company, announced today that Stratus has assumed control over the board of directors and the management of ProElite Inc. (Pink Sheets:PELE - News), an entertainment and media company involved in the promotion of mixed martial arts (MMA).
"This acquisition allows Stratus and ProElite to combine forces at the management and board levels of both organizations," stated Paul Feller, President and CEO of Stratus. "ProElite has a globally recognized brand. 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. 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."
Come on. Really? ProElite has a globally recognized brand since when? You all know I keep it real around these parts. Stratus Media might as well save their time and money.
HT: Yahoo Finance