Takedown Entertainment Inc. (TKDN) stock triumphs on new deal
Posted on: August 17th, 2011Written by:
Takedown Entertainment Inc. (OTCBB: TKDN) saw its stock grow in price by 6.7% to 80 cents Wednesday, on forging a new deal with Fight Night Entertainment. Volume totaled 72,500 shares.
A news release published Wednesday stated that the London-based Takedown, an authority in the business of mixed martial arts, signed a Letter of Intent to acquire worldwide distribution rights to past and future MMA fights with Fight Night Entertainment, plus certain rights to the brand and sponsorship representation.
Fight Night Entertainment (FNE) was established in 2008 in Washington State as both an amateur and professional MMA promotion by Riad Youssef. The organization started as a way to showcase fighters from the gym, West Coast Fight Club, which was growing in membership and fight contenders. To date, FNE has produced 16 events featuring former Ultimate Fighting Championship (UFC) athletes Mario Miranda, Kit Cope and Strikeforce contender Ryan Couture, son of UFC Hall of Famer Randy Couture. FNE is solidifying itself as fundamental component of the growth of mixed martial arts in the Pacific Northwest.
“The sport of MMA is the fastest growing sport surpassing professional wrestling, boxing, and soccer,” stated FNE President Riad Youssef in the same release.
“MMA started taking over as a universal sport from day one and we all knew that this was only the beginning. We at FNE are continually working hard in building our organization’s brand, production and talent pool, and within three to five years FNE will also be one of the largest PPV [pay-per-view] MMA promotions in the world. Since we’ve now partnered with Takedown, the timing is perfect. Takedown’s resources will help us execute our goals and their expertise will ensure that our hard work pays off.”
