The event, which is expected to reach 350m people in 180 countries, will take place in September.
The event will be a coordinated effort between LG Mobile Phones and action sports event and television production company, ASA Events.
LG Mobile Phones is the title sponsor for the event through until 2008.
Said Rick Bratman, president of ASA Events: "The Action Sports industry has been around in the US for many years, but it's just beginning to draw mass attention and support from sports fans on a global basis.
“Action Sports has emerged as a mainstream sports marketing opportunity.”
