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."