Professional Fighters League Acquires Bellator In Industry Transformative Deal; PFL To Launch Reimagined Bellator In 2024 With Bellator International Champions Series
Portfolio Pulse from Benzinga Newsdesk
The Professional Fighters League (PFL) has acquired Bellator from Paramount Global (NASDAQ:PARA), positioning itself as a co-leader in the MMA industry. The combined PFL and Bellator fighter roster is now on par with UFC, with 30% of fighters being top 25 world-ranked. PFL plans to launch a reimagined Bellator in 2024 with the Bellator International Champions Series and a mega-event featuring PFL Champions vs. Bellator Champions. The acquisition enhances PFL's live fight franchises and its year-round calendar of 30 premium MMA events. PFL's global expansion includes the development of international leagues and innovative technologies like the PFL SmartCage. Financial advisors Citi and LionTree, along with legal counsel Sidley Austin LLP, assisted PFL in the acquisition.
November 20, 2023 | 4:32 pm
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Paramount Global (NASDAQ:PARA) has sold Bellator to PFL, potentially streamlining its portfolio and focusing on its core media business.
The sale of Bellator to PFL by Paramount Global may be seen as a strategic move to concentrate on its primary media and entertainment operations. The short-term impact on PARA's stock is uncertain as the financial terms of the deal were not disclosed, and it is unclear how significant Bellator was to PARA's overall business. However, the divestiture could be viewed positively if it allows Paramount to allocate resources more efficiently.
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