Home >> Media-TV >> Article

News Corporation to buy ESPN’s equity stake in ESS

07-June-2012
Font Size   16
News Corporation to buy ESPN’s equity stake in ESS

News Corporation and ESPN announced today that they have entered into a definitive agreement under which a unit of News Corporation will buy ESPN’s 50 per cent equity interest in ESPN STAR Sports (ESS). The transaction will allow News Corporation units to own and operate all of the ESS businesses while providing ESPN more independence and flexibility in future support of The Walt Disney Company’s overall efforts in Asia.

The transaction is subject to customary regulatory approvals and ESS will continue to be jointly managed by the two companies until the transaction closes.

“News Corporation's acquisition of the interest of ESS that we did not already own continues the programme of simplifying our operating model, consolidating our affiliate ownership structures, and furthers our commitment to delivering incredible sports programming to consumers across the globe, and particularly enhancing our position in sports programming in emerging markets,” said James Murdoch, Deputy Chief Operating Officer and Chairman and CEO International, News Corporation. 

“After 16 years jointly managing ESS, we have decided to independently pursue future opportunities in Asia,” said John Skipper, President of ESPN and Co-Chairman, Disney Media Networks. “We are extremely proud of our role in building ESS into what it is today, and now with the growing digital landscape in Asia, we look forward to continuing to serve Asian sports fans through ESPN-branded digital businesses such as ESPN Cricinfo, ESPNFC and ESPN Mobile.” 

News Corporation and ESPN also announced that Manu Sawhney, Managing Director of ESS, who has led ESS through significant growth over the last 16 years, will transition his role of Managing Director to Peter Hutton, currently SVP of Sports for FOX International Channels (FIC). Hutton will report to the ESS Board. Sawhney will be staying with the company until August 31 to work with Hutton on a smooth transition. 

Sawhney joined ESS’s marketing department in India in 1996 and went on to head its India business for four years, before shifting to Singapore as Head of Programming, Acquisition and Marketing. He was promoted to Managing Director in 2007. 

“In his 16 years with the company, Manu has been a key architect of ESS’s growth, and his contributions since its inception have helped ESS become a leading sports media company in Asia, bringing world class events to fans across the region. He led ESS’s expansion to 24 countries across multiple platforms and networks,” said Jan Koeppen, COO Europe and Asia, News Corporation and Russell Wolff, Executive Vice President and Managing Director, ESPN International. 

They added, “Peter is a very talented sports media executive, and we believe his extensive experience in sports rights and production will serve ESS well as the business enters into a new phase of development.”

Stuart Bowden talks about purchase journey, the revised version of Cannes Lions, Wavemaker India’s performance and a lot more

Emery says everything that Unilever CMO Keith Weed says has a touch of genius. He also talks about his expectations from Cannes, WPP without Sir Martin Sorrell and his love for Mindshare India.

In an interaction with exchange4media, PC Musthafa, CEO & Co-Founder iD Fresh Food shares how the brand deals with competition and marketing strategies followed by them.

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

right
left
EXCHANGE4MEDIA’S LOUDEST.IN HOSTS INAUGURAL EDITION OF MUSIC INC. IN MUMBAI EMINENT JURY CONGREGATES TO PICK IMPACT’S 40UNDERFORTY ACHIEVERS PORTER PRIZE & INSTITUTE FOR COMPETITIVENESS RECOGNIZE STRATEGIC ACUMEN IN COMPANIES DELHI AD CLUB-SAARC AWARDS 2018 RECOGNIZE EXCELLENCE ACROSS CREATIVE, MEDIA & DIGITAL AGENCIES BSNL & CALL2ACTION COMMUNICATION INDIA LAUNCH MOBILE ADVERTISING PLATFORM, INFOMO IN NEW DELHI CHILDREN’S RIGHTS ACTIVIST KAILASH SATYARTHI LAUNCHES BOOK ‘EVERY CHILD MATTERS’ SENIOR JOURNALIST VIJAY TRIVEDI LAUNCHES BOOK ‘YADA YADA HI YOGI’ BASED ON YOGI ADITYANATH EMINENT JURY CONGREGATES TO PICK IMPACT’S 40UNDERFORTY ACHIEVERS PORTER PRIZE & INSTITUTE FOR COMPETITIVENESS RECOGNIZE STRATEGIC ACUMEN IN COMPANIES DELHI AD CLUB-SAARC AWARDS 2018 RECOGNIZE EXCELLENCE ACROSS CREATIVE, MEDIA & DIGITAL AGENCIES MARK TULLY, OTHER JOURNALISTS HONOURED BY MUMBAI PRESS CLUB AT ANNUAL REDINK AWARDS TALENTED YOUNGSTERS GET TO PRESENT THEIR WORK BEFORE STALWARTS IN THE AD INDUSTRY INDIA RADIO FORUM 2018 RECOGNIZES EXCELLENCE IN RADIO INDUSTRY OFF THE CUFF HAS JOURNALIST ARUN SHOURIE IN CONVERSATION WITH SHEKHAR GUPTA IN MUMBAI IAA HOSTS FIRST INDIAA REGIONAL AWARDS (TELUGU) IN HYDERABAD BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI

In a conversation hosted by COVERGIRL and creative agency Droga5, this session discussed how creators push the boundaries of creativity by giving women the power to define it

A session at Cannes Lions highlighted the importance of confidence in helping people realise their true potential

The Pandey Khandaan, as promised, was in full attendance to watch brothers Piyush and Prasoon receive top honours.