TORONTO – The Fight Network, which has battled heavyweight after heavyweight on its way from an independent digi-net to growing multiplatform brand, announced this morning a new round of financing and a new leader.
Launched in 2005, just as the ultimate fighting/mixed martial arts craze began to go mainstream, The Fight Network is available on most Canadian cable systems either as the linear channel or on demand.
Content from the channel is also available to wireless subscribers of Telus, Bell, Verizon, Sprint and AT&T. It also has a syndicated radio show, "The LAW" (Live Audio Wrestling), a broadband player, and is on satellite radio.
However, all this expansion – not to mention the fact that rights fees for its bread and butter MMA content have skyrocketed as mainstream sports networks have added the sport – requires capital, something which the company has been struggling with.
So, today that new financing has been injected into the company by Mayhem Media Corp., led by Loudon Owen, chairman of McLean Watson Capital, and Ed Nordholm, media industry advisor and financier. How much financing was injected was not announced.
George Burger, who was most recently the leader of Spotlight Television’s bid for a Canadian pay TV license (which ended up in Allarco’s hands), and who was also an executive vice-president of Alliance Communications (later Alliance Atlantis), has been named president and CEO of The Fight Network, replacing Mike Garrow, who will be staying on, it seems from the release.
“We are very excited to enter into the next stage of expansion of The Fight Network,” said Garrow, co-founder of the company. “We have established ourselves as one of the fastest growing sports brands in Canada, with a multi-platform strategy that leverages our content on digital television, pay-per-view and VOD, mobile, radio and online. The support of Mayhem Media and George’s leadership will help us build our presence on those platforms, and export the brand around the world.”
Launched in September, 2005, The Fight Network is also available worldwide through its relationships with global broadband distributors such as Joost and Veoh, and the release says the company is embarking on an ambitious global expansion that will see it enter Europe, too.
“We have been enthusiastic supporters of The Fight Network since its inception, and have watched The Fight Network team execute Garrow’s vision flawlessly,” said Nordholm, in the press release. “The company has established its brand in all major sports platforms in Canada, and we particularly look forward to projecting the brand internationally from our base in Toronto. George is an experienced industry executive with the vision and skills, and the international experience and relationships, to lead this terrific team.”
“This is a tremendously exciting opportunity,” said Burger in the release. “The timing is perfect. Mike saw the potential of combatant sports, and mixed martial arts (MMA) in particular, as a standalone sports package well before the explosion in popularity of MMA. The Fight Network is now uniquely positioned to lead the growth of the sport worldwide, and we are already pursuing opportunities in key markets. Meanwhile, there is plenty of room for growth right here at home, and we have the people that will ensure we execute all growth opportunities.”
