Live blogging the UFC's major announcement

MMAFighting dot com will be providing live updates of the UFC media conference beginning at 4pm ET. Refresh for updates!

The conference has been rescheduled for 4pm ET, instead of 3pm ET.

4:12: Dana White apologizes for the delay. White has scheduled Randy Couture vs. Brock Lesnar for the UFC title on Nov. 15 at the MGM Grand Arena in Las Vegas.

4:13: Dana White says no matter whether Randy wins or loses, he's still be in the UFC. White says Fedor can happen but the UFC won't mess with another promotion (Affliction)'s contract with him. If his contract becomes available, the UFC will look to make it happen.

4:14: White says the Nov. 15 date is for the MGM Grand Arena, and the Portland location was never official. Says the UFC will definitely be there, but not for this event.

4:15: White says he still like Randy. "This whole thing never made sense to me." White says Randy is sitting right next him right now.

3:16: Nogueira and Mir will fight for the interim and then it's champion versus champion. Refers to the heavyweight title situation as a "tournament."

4:17: Couture speaks. He says he's never been on the mat together with Lesnar.

4:19: Lesnar says his whole goal with the UFC was to get the shot at the title.

4:20: Couture says there were compromises made on both sides of his contract. Couture says both companies are happy. White says, "All I give a s--t about is that he's back and he's fighting."

4:22: Couture acknowledges that he has time constraints. "I'm 45, I can't sit around in court rooms, I want to fight."

4:22: White says Lesnar is not necessarily the number contender (he is), but he had a great showing against Heath Herring. Says the UFC is not caught up in political bulls?t, and wants to give fans what they want. Says Couture-Lesnar will be the biggest fight in UFC history.

4:24: Couture is not concerned about ring rust. He's done this before and has been helping others train. White points out that Couture took a year off during his retirement and came back last year to beat Tim Sylvia and Gabriel Gonzaga.

4:26: Couture says nothing is missing from his legacy if he never fights Fedor. He wants the fight. Says Fedor needs to come fight him.

4:27: White says, "I don't know" when asked if he's confident the UFC can bring in Fedor. Says he's unsure if Fedor values his legacy. White says Fedor's current contract is another obstacle. "We will never interfere with someone else's contract."

4:31: White says his beef with Fedor is that he's not fighting the best in the world (Couture).

4:32: White says Affliction will go out of business soon and the UFC will then pick up Fedor's contract. White will be horrified if Affliction is still alive in January. White will wait and see what happens.

4:33: Couture says this is a step in the right direction but won't say this is what he wanted. Couture would have liked to fight Fedor in November.

4:38: White says the UFC has been often criticized for a poor heavyweight division, but says "the heavyweight division is looking pretty damn good right now."

4:39: Couture says there are some parallels to Brett Farve coming out of retirement, though Couture laughs and says he would have liked to see Farve play for the Packers instead of the Jets.

4:42: Couture feels like he's been "walking under a black cloud for the past year." White says he likes Randy and says it's been rough for him too. White jokes saying he likes to fight with Tito Ortiz.

4:45: Couture says his return was brought on because he was able to clear things with the UFC and second, he was tired of the legal system. Couture says he was tired of throwing money at lawyers. He's a fighter and he wants to fight in the cage, not a courtroom.

4:47: White says the deal is done. White describing himself as a "giddy little girl right now" is putting the past year of his dispute with Couture behind him.

4:50: White says he was blown away by Lesnar's performance against Herring. "After seeing him with Heath, Brock is ready to take on anybody."

4:51: Lesnar says fighting Couture was something he couldn't turn down. "I'm very excited. Not a lot of people get this opportunity, and not a lot of people are me either."

4:52: Lesnar goes on a long rant about Fedor: "I don't give a s--t about Fedor. I'm sick about people talking about Fedor...You want that fight? Fine, but I don't give a damn."

4:53: White says they'll be a 2-3 part series on Spike TV to promote Couture vs. Lesnar.

4:55: Another reporter asks a Fedor question to White and Lesnar interrupts again to say he's speaking on behalf of everyone when he says he's tired of all the Fedor talk. White says: "Couture is relevant, Fedor is not... Beating Randy means something, it's up to Fedor."

4:58: White says he has no problem with his past fighters competing other organizations. Says whoever the UFC does not deem worthy of fighting in the UFC is welcome to go elsewhere.

White says Fabricio Werdum is in the title mix as well.

5:00: Lesnar says he needs to cut around 15 pounds to get below the weight limit of 265.

5:01: White says the UFC is expecting 1 to 1.5 million buys for Couture vs. Lesnar. Won't predict if it'll be Oscar De La Hoya vs. Manny Pacquiao.

5:01: Couture says this is a new 3-fight deal. "We've resolved all the issues and we're moving forward."

5:03: White says if Fedor wants to come in, it won't be a one-fight deal. He needs to fight "a couple of fights."

White says, "We're done, we're no longer in a court battle with Randy Couture."

5:04: When asked if he has any regrets, Couture takes a long time to answer. Says he wouldn't say he regrets it but would have liked to have seen it gone better.

5:05: Lesnar says he likes to talk about things that are going to happen. Again, says he feels like he's wasting his time when people are talking about Fedor.

White again says Fedor is "completely f--kin' irrelevant."

5:11: Lesnar says he lays it all on the line win or lose. Talks about him only wanting to fight the best.

Couture says every single fighter is dangerous and Brock is no different. Couture doesn't have a lot of footage to look at but says Lesnar is coming from the same place he is.

5:13: White says they'll take one more question as Lesnar has to catch a flight and Couture has to be back at the gym.

Couture says now the best path is to make the Fedor happen in the UFC.

5:14: White says thanks again for waiting during the one-hour delay and will see you again in Atlanta for UFC 88.

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