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ESPN ACQUIRES MAJORITY INTEREST IN SPORTSTICKER
Published November 8, 1994
Dow Jones & Co. is selling 80% of SportsTicker, its sports news service, to ESPN. Dow Jones will retain a 20% interest in SportsTicker, a 24-hour sports news and information service. ESPN has "wanted to acquire SportsTicker for several months, but Dow Jones was not looking to sell." However, Roger May, spokesperson for Dow Jones, said, "ESPN made us a pretty good offer" (Richard Sandomir, N.Y. TIMES, 11/8). ESPN plans no major changes at SportsTicker and as part of the agreement, Dow Jones and ESPN said they will develop TV programming. Dick Glover, Senior VP at ESPN Entertainment said the "two companies could report on sports business or offer ESPN's sports news feed to Dow Jones's desktop video service" (N.Y. POST, 11/8). Glover: "We've bought an experienced well-oiled machine." SportsTicker President Peter Bavasi will continue to oversee the operation. Bishop Cheen, analyst for Paul Kagan Associates, said "he expected SportsTicker and ESPNet to merge into one computer on- line service, which would have a growing appeal to gamblers eager for up-to-date information" (Richard Sandomir, N.Y. TIMES, 11/8).