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TCI, LIBERTY AND NEWS CORP. HAMMER OUT SPORTS NET DETAILS
Published May 10, 1996
Liberty Media, TCI and News Corp. completed their previously announced deal to form a worldwide alliance to own and operate sports programming on a global basis. In addition to the U.S. operation -- in which Liberty contributes is regional and national sports networks and News Corp. contributes the fX cable network and cash -- the international component of the deal will result in jointly owned operations in Latin America, Australia, Europe and Asia. In Asia, News Corp. has agreed to sell a 7.5% stake in STAR TV to Liberty/TCI. The venture will be headed by Fox Sports President David Hill, who was named CEO. Liberty CEO Peter Barton called it an "unrivaled international enterprise that will pioneer new forms of cross-promotion, program branding and other synergies" (Fox/TCI/Liberty). OTHER NOTES: USA TODAY's David Lieberman, noting profits are down for News Corp.'s broadcasting arm, writes, "It means [News Corp. Chair Rupert] Murdoch still has nothing to show for his lavish and controversial efforts to convert Fox from a clearly defined, albeit an also-ran network for teens and young adults into a mainstream rival to ABC, CBS and NBC" (USA TODAY, 5/10)....Ad agency Jordan, McGrath, Case & Taylor has been awarded the corporate and digital TV business accounts for TCI Communications (JMCT).