News Corp ends partnership
Source: Agencies |
June 7, 2012, Thursday
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Print Edition
Print Edition
RUPERT Murdoch's News Corp has bought out Walt Disney Co's 50 percent stake in Asian joint venture ESPN STAR Sports for an undisclosed sum, the two companies said yesterday, ending a 16-year partnership in the region.
ESS operates 28 broadcast networks in 24 Asian countries and regions, including a number focused on cricket, one of the biggest sports in Asia.
"News Corp's acquisition of the interest of ESS that we did not already own ... furthers our commitment to delivering incredible sports programing to consumers across the globe, and particularly enhancing our position in sports programing in emerging markets," said James Murdoch, deputy chief operating officer and chairman & CEO international of News Corp.
John Skipper, president of ESPN and co-chairman of Disney Media Networks, said: "After 16 years jointly managing ESS, we have decided to independently pursue future opportunities in Asia. With the growing digital landscape in Asia, we look forward to continuing to serve Asian sports fans."
ESS operates 28 broadcast networks in 24 Asian countries and regions, including a number focused on cricket, one of the biggest sports in Asia.
"News Corp's acquisition of the interest of ESS that we did not already own ... furthers our commitment to delivering incredible sports programing to consumers across the globe, and particularly enhancing our position in sports programing in emerging markets," said James Murdoch, deputy chief operating officer and chairman & CEO international of News Corp.
John Skipper, president of ESPN and co-chairman of Disney Media Networks, said: "After 16 years jointly managing ESS, we have decided to independently pursue future opportunities in Asia. With the growing digital landscape in Asia, we look forward to continuing to serve Asian sports fans."
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