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TheStreet Open House

News Corporation Completes Acquisition Of ESPN STAR Sports

Stocks in this article: NWSNWSA

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 became a wholly-owned subsidiary of News Corporation.

About News Corporation

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of September 30, 2012 of approximately US$60 billion and total annual revenues of approximately US$34 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.

About ESPN Inc

ESPN, Inc., is the world’s leading multinational, multimedia sports entertainment company featuring a portfolio of more than 50 multimedia sports assets. The company is comprised of eight 24-hour domestic television networks (ESPN, ESPN2, ESPNEWS, ESPNU, ESPN Classic,  ESPN DeportesESPN 3D and the regionally focused  Longhorn Network) and five HD simulcast services (ESPN, ESPN2, ESPNU, ESPNEWS and ESPN Deportes). Other businesses include  ESPN Regional TelevisionESPN International (35 networks, syndication, radio, websites, mobile, apps),  ESPN Audio (broadcast, satellite, online and apps, a growing category led by ScoreCenter),  ESPN.com (plus a variety of sport-, college-, and market-specific sites),  ESPN The Magazine, ESPN Enterprises,  ESPNHS and  espnW. Multi-screen offerings include  WatchESPN (access to several ESPN networks online and via an app) and  ESPN3 (live multi-screen network available online, on the go and via Xbox LIVE). Based in Bristol, Conn., ESPN is 80 percent owned by ABC, Inc., which is an indirect subsidiary of The Walt Disney Company. The Hearst Corporation holds a 20 percent interest in ESPN.

Copyright Business Wire 2010

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