Media conglomerate News Corporation has completed a deal to buy out Disney-owned sports broadcaster ESPN’s stake in their jointly-owned pan-Asian sports broadcaster ESPN Star Sports.
“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 pursuant to their agreement announced on 6 June 2012,” News Corp said.
ESPN Star Sports has now become a wholly-owned subsidiary of News Corp.
The Competition Commission of India, the country’s competition watchdog, approved the proposed buy-out in September.
ESPN Star Sports had previously been a 50:50 joint venture between News Corp and Disney.