News Corp. To Break JV, Overtake Asian ESPN Networks

Law360, New York (June 6, 2012, 12:03 PM EDT) -- A News Corp. unit will overtake sports network ESPN Inc.'s 50 percent stake in ESPN Star Sports, a bundle of channels that offer sports coverage to viewers in Asia, breaking up a 16-year joint venture between the two, the companies said Wednesday.

The pair did not disclose a sale price or give an expected closing date for the transaction, but said ESS would have a new managing director by the end of August. Meanwhile, News Corp. and ESPN will continue to jointly operate the network until...
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