News Corp. said it agreed to buy Disney’s 50 percent...
News Corp. said it agreed to buy Disney’s 50 percent of ESPN Star Sports (ESS), an Asian pay-TV network. “After 16 years jointly managing ESS we have decided to independently pursue future opportunities in Asia,” ESPN President John Skipper said.…
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“With the growing digital landscape in Asia, we look forward to continuing to serve Asian sports fans through ESPN-branded digital businesses.” A stock analyst put the likely price between $2.5 billion to $3 billion, though terms weren’t disclosed. Citigroup’s Jason Bazinet said he reached that range based on estimates of how much ESS contributes to Disney’s profit.