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News Corp. To Buy Out Disney's Interest in ESPN Star Sports Venture

By Mia Lamar News Corp. (NWS, NWSA, NWS.AU) said Wednesday it has agreed to buy out partner Walt Disney Co.'s (DIS) interest in Asian sports broadcasting company ESPN Star Sports, concluding the two companies' 16-year partnership in the region. ESPN Star Sports has been run as a 50/50 joint venture between Walt Disney's entertainment and sports network ESPN Inc. and News Corp.'s Star unit, a media company which offers satellite television and other services in Asia. Financial details of the transaction weren't disclosed. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. In a brief statement, ESPN President John Skipper said the company has "decided to independently pursue future opportunities in Asia." News Corp. is said to be contemplating the launch of a national cable sports network in the U.S. Such an initiative would put News Corp. in more direct competition with ESPN, although the two companies are already fierce rivals for various sports rights. Disney shares closed Tuesday at $44.84 and were inactive in premarket trade. News Corp.'s Class A shares were also inactive from a Tuesday close at $18.61. Write to Mia Lamar at mia.lamar@dowjones.com

Stock News for Walt Disney (DIS)
DateTimeHeadline
06/30/201517:02:38Current Report Filing (8-k)
06/30/201515:30:46Disney Taps Treasurer as New Financial Chief
06/30/201515:07:20Walt Disney Names Treasurer McCarthy as New Finance Chief
06/30/201514:00:00Christine M. McCarthy Named Chief Financial Officer and Kevin...
06/30/201513:00:0060th Anniversary of Mickey Mouse Club to Be Celebrated at D23...
06/30/201509:00:03Will China Be Netflix Inc.'s Toughest Expansion Market?
06/29/201521:57:42Walt Disney to Merge Units for Interactive Media, Consumer Products
06/29/201515:50:21Walt Disney to Merge Units for Interactive Media, Consumer Products
06/29/201515:44:36Walt Disney to Merge Units for Interactive Media, Consumer Products
06/29/201515:40:03How Comcast Beat Disney and Won the Summer Box Office
06/29/201514:20:00New Disney Segment to Combine Consumer Products and Interactive...
06/29/201508:30:03Jurassic World,' Pixar Knock Stuffing Out of 'Ted 2'
06/28/201515:34:50Jurassic World,' 'Inside Out' Knock Stuffing Out of 'Ted 2'
06/26/201517:08:38Annual Report of Employee Stock Plans (11-k)
06/26/201517:07:22Annual Report of Employee Stock Plans (11-k)
06/26/201517:01:55Amended Current Report Filing (8-k/a)
06/26/201507:08:02Disney's Best Business Is the One Everybody Is Still Ignoring
06/25/201514:20:30Disney Reverses a Stupid HR Decision
06/25/201513:00:00Pixar Animation Studios to Hit D23 EXPO 2015 Aug. 14–16
06/24/201519:02:22Disney Boosts Dividend, Will Pay It Twice a Year -- Update

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