US pay-television sports broadcaster Universal Sports Network is to close down next month, with its rights being transferred to media company NBCUniversal.
NBCU has an eight-per-cent stake in the broadcaster, with InterMedia Partners holding the remaining 92-per-cent shareholding.
With the broadcaster showing mostly Olympic sports, NBCU’s plans to launch the International Olympic Committee’s new channel has led to the closure, according to multiple reports in the US. The IOC is hoping to launch the channel in April 2016.
It has been reported that the closure of Universal Sports Network will lead to the loss of 75 jobs.
“We are thrilled to be finalising an agreement with Universal Sports that will provide NBCUniversal and NBC Sports with an impressive collection of media rights to some of the world’s most prestigious sporting events,” NBC Sports Group said. “We will have more information regarding our plans when the transaction closes in November.”
The World Surf League last week agreed a rights partnership with Universal Sports Network giving it exclusive TV Everywhere broadcast rights and event re-broadcast rights during the 2015-16 WSL Big Wave season.