By Zach Arnold | February 23, 2007
Report by Yeo Jong-Hoon
On Friday, CJ Media announced a new TV deal with FEG (the backer of K-1). The deal starts this year and expires in 2010. CJ Media will start airing K-1 World GP shows (beginning with the 3/3 Yokohama Arena event) on their cable channel, XTM. All four K-1 tour series (World GP, World MAX, HERO’s, and Dynamite!) will air on the network. Financial terms were not disclosed, but one source speculated the following: 15 billion won for the TV rights, 6 billion won for K-1 South Korea tour shows, and 10 billion won for investment in a new company called FEG Korea. The total price tag is 31 billion won, almost triple what OCN paid for the rights to PRIDE.
This represents a significant financial increase in K-1’s previous South Korean TV deal (the previous K-1 TV deal was with MBC/ESPN and it was worth 720 million won over three years from 2004-2006). PRIDE used to air on XTM (CJ Media), but now the network has chosen K-1 programming instead.