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Cuban’s HDNet to Purchase IFL Assets

Written by Tom Ngo
September 25th, 2008
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Dallas Maverick and HDNet owner Mark Cuban filed paperwork on Wednesday with the Securities and Exchange Commission requesting permission to buy all of the IFL’s remaining assets. Many thought that the UFC was the frontrunner to purchase the company after they filed for bankruptcy on September 15th.

HDNet has offered to purchase the financially plagued company’s assets for $650,000. This will include all intellectual property, including its website, the IFL’s film, video and image library; its five-roped competition ring and team trademarks; and proprietary rights.

HDNet would also swallow up any remaining broadcast contracts that the IFL acquired during its two-years in business, which includes a deal with Fox Sports Net.

HDNet has been aggressively trying to get a stronger hold on the MMA business, with shows such as Inside MMA and HDNet Fights, which broadcasts a variety of MMA events, including this week’s Dream.6 event, Strikeforce and Affliction.

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