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ESPN Inc to acquire NASN from Setanta/Benchmark - Reuters 12/5/06

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  • ESPN Inc to acquire NASN from Setanta/Benchmark - Reuters 12/5/06

    ESPN Inc to acquire NASN from Setanta/Benchmark
    Reuters 12/5/06

    ESPN Inc to acquire NASN from Setanta/Benchmark

    DUBLIN, Dec 5 (Reuters) - Sports entertainment group ESPN Inc. has agreed to acquire the North American Sports Network (NASN) from Setanta Sport Holdings Ltd and Benchmark Capital Europe, they said in a statement on Tuesday.

    Terms of the agreement were not disclosed, although a source close to the deal told Reuters NASN was being sold for 80 million euros to 90 million euros ($107 million to $120 million), including debt assumption.

    The deal is expected to close early next year subject to regulatory approvals.

    "Growing our business in Europe is a key strategic initiative for us," Russell Wolff, managing director of ESPN International, said in a statement. "We expect NASN, which has performed well and created a unique market position, to be a strong addition to our portfolio."
    Full Story - ESPN Inc to acquire NASN from Setanta/Benchmark
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