News Corp. has completed its purchase of ESPN’s stake in Asian joint TV venture ESPN Star Sports, ending a 16-year partnership.
Financial details were not disclosed. ESPN owned a 50% interest in the business.
News Corp. announced the deal in June. At the time, deputy chief operating officer James Murdoch said the acquisition would “continues the program of simplifying our operating model, consolidating our affiliate ownership structures, and furthers our commitment to delivering incredible sports programming to consumers across the globe.”
Deal gives News Corp. more control over all the ESS businesses, while ESPN will enjoy increased independence and flexibility.