Share prices for World Poker Tour owner WPT Enterprises (NASDAQ: WPTE) skyrocketed this afternoon, suddenly jumping 9.22 percent to $3.79 a share just an hour before market close.

It looks like the reason for the sudden investor interest was a statement the company put out earlier in the afternoon. According to the statement, WPT Enterprises just named Card Player Media as the official partner of the World Poker Tour for “exclusive, live tournament reporting.”

If you’re at all familiar with the world of professional poker, then you’re probably familiar with Card Player Media. The company owns and publishes Card Player magazine, the most popular poker-related publication in the United States. As part of the deal, Card Player will receive exclusive tournament reporting coverage rights and will join forces with WPT’s Live Updates team.

“We are thrilled to be joining forces with the WPT in providing the most complete poker tournament coverage available,” Card Player Media CEO Barry Shulman said in the release. “With this deal, two of the largest and most respected power organizations will be working together to expand coverage from the world’s biggest tournaments.”

Naturally, this is an excellent deal for both companies. By joining forces, the companies will provide exclusive coverage on the World Poker Tour with “up-to-the-minute chip counts” and “in-depth hand-by-hand coverage” over the ongoing poker tournament.

Steve Lipscomb, WPT’s president, founder, and CEO, was thrilled with the decision.

“As the WPT continues to grow and reach new territories around the globe, we wanted to further develop our Live Updates online reporting capabilities so we can continue delivering the most robust tournament news and information to our fans,” Lipscomb said. “An idea partner, Card Player is a respected, established name with a rich history in the power industry.

“We are very excited to launch this strategic agreement with them,” Lipscomb added.

Please share your thoughts: MN1 Message Board