Bristol sports programmer ESPN is selling its half stake in an Asian sports network to partner billionaire media mogul Rupert Murdoch’s News Corp., ending their 16-year joint venture.
ESPN said it signed a definitive pact with News Corp. for ESPN’s 50 percent equity stake in ESPN Star Sports. Financial terms were withheld.
The deal gives News Corp. automony in running the network, while freeing ESPN and parent The Walt Disney Co. more independence in focusing on the burgeoning Asia broadcast market, authorities said.
The deal must satisfy regulators’ scrutiny, officials said.
