News Corp. completes acquisition of ESPN Star Sports

ESS has now become a wholly-owned subsidiary of News Corporation

BestMediaInfo Bureau | Delhi | November 8, 2012

News Corporation and ESPN today announced that News Corporation, through a wholly-owned subsidiary, completed its acquisition of ESPN's partnership interest in ESPN Star Sports (ESS) pursuant to their agreement announced on June 6, 2012.

Upon the closing of the acquisition, ESS has become a wholly-owned subsidiary of News Corporation. The completion the transaction will allow News Corporation units to own and operate all of the ESS businesses while providing ESPN more independence and flexibility in future support of The Walt Disney Company's overall efforts in Asia.

ESPN, Inc. is the world's leading multinational, multimedia sports entertainment company featuring a portfolio of more than 50 multimedia sports assets. Based in Bristol, Conn., ESPN is 80 per cent owned by ABC, Inc., which is an indirect subsidiary of The Walt Disney Company. The Hearst Corporation holds a 20 per cent interest in ESPN.

Also read: News Corporation to buy ESPN's equity stake in ESPN Star Sports

Info@BestMediaInfo.com

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