Elite XC Down For The Count

Another mixed martial arts franchise is about to bite the dust. Elite XC will announce today that its closing its doors after two years of operations, according to sources close to the company. 

Elite XC, in which Showtime holds a major financial stake and which recently aired several fight cards on broadcast network CBS, will join the International Fight League — which shut down earlier this year – on the mixed martial arts sidelines, leaving the Ultimate Fighting Championship as the undisputed champion of the MMA genre. 

According to Yahoo! Sports, which first reported on Elite XC’s impending demise,  
Elite XC lost more than $55 million in its two years of operation.

 
Update: Showtime released a statement regarding Elite XC:

“We are aware of multiple press reports that ProElite has ceased operations. Pro Elite officials have advised us that they will not be able to put on the event scheduled for Showtime on November 8.  Showtime has a leadership role in televising mixed martial arts and we intend to explore other opportunities with the sport.”