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CANADA'S FIGHT NETWORK FILES FOR BANKRUPTCY; FIRST CREDITOR MEETING SET FOR FRIDAY IN TORONTO

By Mike Johnson on 2010-12-08 10:46:42
619661 Canada Inc., the parent company of The Fight Network in Canada filed for bankruptcy late last month, PWInsider.com has confirmed. According to bankruptcy documents, the network owes creditors $13,748,318.06 with a meeting for creditors scheduled for this Friday 12/10 in Toronto.

Currently, the network is still operating per usual and according to sources as the network, there are no plans for that to change in the foreseeable future. If that is so, the bankruptcy filing appears to be a way for the network to jettison older debt while building for the future. I know there had been several changes in the corporate ranks in recent weeks there.

Launched in 2004 as a niche cable network that would focus on MMA, boxing, pro wrestling and other combat sports, The Fight Network carried a number of different entities as part of their television programming and maintained a regular radio series after purchasing longtime Canadian wrestling radio show "Live Audio Wrestling", which was eventually moved to satellite radio.

On the wrestling side of their broadcasting, The Fight Network carried programming from TNA, Ring of Honor, Dragon Gate USA, CMLL in Mexico, FMW and Pro Wrestling NOAH in Japan as well as several Canadian independent groups. The network also licensed tape libraries from Stone Cutter Media, The Savoldis, and Larry Matysik, among others to air classic footage from Texas, St. Louis and Memphis, as well as other territories.

A number of the aforementioned entities are among those listed as creditors in the filing.

The network also dove into producing its own original fare, including the highly touted and well received "Bret Hart: Survival of the Hitman" documentary, produced by John Pollock, tracing Hart's career and return to WWE as he prepared to face Vince McMahon at Wrestlemania 26. Hart is not listed as a creditor, although MMA star Randy Couture, another documentary subject, is.

At one point, the Network had looked into expansions in both Latin America and the United States, but those did not come to pass. They purchased a similar network in Great Britain, The Wrestling Channel before shutting it down in 2008.

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