28 Sep 2012 – Rupert Murdoch-owned News Corp has got the clearance from the Competition Commission of India (CCI) for the acquisition of ESPN’s interest in the Asian sports broadcasting joint venture company ESPN STAR Sports (ESS), which owns Star Sports, Star Cricket and ESPN.
In June this year, ESPN, owned by the Walt Disney Company, and Star, owned by News Corp, had call off their joint venture 16 years after it was formed. The two companies had entered into a definitive agreement under which STARTV-ATC, an indirectly wholly owned subsidiary of News Corp was to buy ESPN’s 50% equity interest in ESS. The proposed acquisition would result in change in ownership of the ESS India Subsidiaries upon the completion of the transaction. The deal also meant that News Corp will have full control of ESS which operates 25 television networks and three broadband networks covering 24 markets in Asia, while Disney will exit from sports in Asia.