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).
